Japanese corporations verify Rs 4,000 cr funding in Karnataka: M B Patil

Karnataka Massive and Medium Industries Minister M B Patil on Monday mentioned that investments price Rs 4,000 crore have been confirmed in the course of the lately concluded go to to Japan, by the delegation led by him.

Expressing satisfaction with the success of the go to, he mentioned that these new investments by a few of Japan's main corporations would additional strengthen the present industrial ecosystem in Karnataka.

“Japanese traders arrive at choices solely after cautious consideration. Furthermore, Karnataka is house to greater than 50 per cent of the entire Japanese corporations working in India,” Patil mentioned.
He mentioned the sooner go to to Japan and South Korea had resulted in attracting investments of round Rs 6,500 crore, a press release from the minister's workplace mentioned.

In the course of the newest go to, discussions have been held on a number of tasks, together with the growth plans of Honda and a proposal by Sumitomo, in collaboration with Mukand Sumi, to arrange a metal plant, the minister mentioned.

Patil noticed that the 50 per cent tariff imposed on Indian items by US President Donald Trump has brought about some disruption. In such a state of affairs, it has develop into difficult for traders to make choices, he added.