Karnataka Minister MB Patil engages Japanese firms to boost investment in state
Jun 25, 2024
Bengaluru (Karnataka) [India], June 25 : During a strategic business trip to Japan, MB Patil, the Karnataka minister for large, medium industries, and infrastructure development, met with representatives of international companies as part of its ongoing effort to attract investments to the state.
The delegation was focused on attracting investments to Karnataka and fostering a strong business environment for India.
The meeting that took place on June 24, focused on exploring potential collaborations and strategic investments in Karnataka, emphasising the importance of leveraging companies' expertise and innovation to drive economic growth and development in the region, as per a release issued by the state government's arm, Invest Karnataka.
"The Japan tour undertaken with the aim of increasing capital investment in the state has continued successfully. Talks with Mr. Ryo Ryota Waza, Director of Daiki Axis, led to a significant milestone. Daiki Axis, globally recognised for its environmental equipment and wastewater solutions, has signed a Memorandum of Understanding (MOU) with the Government of Karnataka. A state-of-the-art STP and waste water management equipment manufacturing unit will be set up in the state. Land selection in Doddaballapur and Tumkur is also under review. Invited to GIM 2025, Invest Karnataka in February 2025," MB Patil posted on X.
The talks also emphasised ways to improve digital solutions, infrastructure, and sustainability programmes, reaffirming a common dedication to promoting interests that align and cultivating long-term relationships, it added.
Patil, while inviting Nissin Foods to the Global Investors Meet, suggested Bangalore as a hub for the company's expansion. He expressed interest in Nissin's plans, offering support through food parks in Dharwad and Bijapur, which emphasise the complete food processing value chain and are in proximity to Maharashtra.
Patil engaged in a business discussion with key representatives from Hitachi, including Bharat Kaushal, Managing Director of Hitachi India, among others. Hitachi showcased its long-lasting and efficient engineering products, some of which have been functioning for over 50 years. Additionally, the company discussed the potential of quantum computing for improving energy efficiency and their joint venture with the Indian government on cybersecurity.
During the discussions, the representatives of Nissan Motor focused on potential collaborations and the expansion of Nissan's electric vehicle initiatives in Karnataka.
Patil also emphasised Karnataka's strong R&D ecosystem, which includes a robust network of Japanese companies and a commitment to sustainability, presenting opportunities for Nissan in both manufacturing and design.
