Despite U.S. import duties creating investor challenges, the minister highlighted continued confidence in Karnataka, citing a confirmed ₹4,000 crore investment excluding electronics, pharmaceuticals
Bengaluru
Karnataka’s Minister for Large and Medium Industries, M.B. Patil, announced that his recent visit to Japan has secured more than Rs 4,000 crore in confirmed investments from Japanese industries. Addressing the media in Bengaluru on Monday, Patil said the commitment marks a significant boost for the state’s industrial growth.
This was Patil’s second visit to Japan aimed at attracting foreign investment. He explained that Japanese companies are traditionally cautious, often taking time before finalizing major decisions. Currently, about half of all Japanese firms operating in India are based in Karnataka, reflecting the state’s growing appeal.
Patil recalled that his earlier visit to Japan and South Korea had brought in Rs 6,500 crore worth of investments. During the latest trip, discussions were held with companies including Honda on expansion plans in Karnataka and Mukand Sumi Steel regarding potential partnerships.
The minister acknowledged external challenges, noting the United States’ recent move to impose a 50 per cent import duty on Indian products, excluding electronics and pharmaceuticals. He said this has created difficulties for investors. However, the confirmed Rs 4,000 crore investment shows continued confidence in Karnataka.
Patil added that even smaller investments help strengthen the state’s industrial ecosystem. He stressed that investors value stability and peace when making decisions, urging that no region in the country should create an atmosphere unfriendly to business.
The minister expressed optimism that Karnataka will remain a preferred destination for global investors, with Japanese industries continuing to play a key role in shaping its industrial landscape.
