Karnataka govt attracted investments worth Rs 1 lakh crore in last 3-4 months: Minister

PTI, Aug 6, 2022, 7:18 PM IST

Assuring that the government would encourage and extend support to Japanese companies investing in Karnataka, State’s Industries Minister Murugesh Nirani, who is in Tokyo, while pitching the State as an investment destination, said pacts on investments worth Rs 1 lakh crore have been signed in the last 3-4 months.

A delegation led by the Minister is visiting Tokyo to invite Japanese investors to participate in the Global Investors Meet (GIM) scheduled from November 2 to 4 in Bengaluru.

He invited also the Tokyo-Kannada diaspora to participate in the GIM.

Lauding the efforts of Prime Minister Narendra Modi in making India globally competitive and also Chief Minister Basavaraj Bommai’s policies for Karnataka’s progress, Nirani said the World Economic Forum Meet in Davos, Switzerland, proved fruitful for Karnataka as it has succeeded in drawing huge investments. ”Under the able leadership of Chief Minister Basavaraj Bommai, agreements on investments worth Rs 1 lakh crore have been signed in the last 3-4 months,” he said this only shows the faith reposed by major companies in Karnataka. Many more companies have expressed their keeness to invest in the State, he added. Karnataka and Japan have cordial industrial relations, Nirani said while referring to a Japanese Industrial Township that has been set up at Vasanthanarasapura in Tumakuru district, where around 519.55 acres of land have been earmarked and basic infrastructure provided. ”We will encourage and extend all support to Japanese companies investing in Karnataka,” he said, adding that Karnataka ranks first in the list of States that have attracted the most foreign direct investments. ”Our State’s share in the total foreign direct investment of the country is 38 per cent,” he said.