Karnataka Chief Minister BS Yediyurappa has pitched Karnataka as the ideal investment destination to Japan. In his address during the Indo-Japan Business Forum, the CM urged Japan to strengthen heir partnership in the state.
He also added that Karnataka is a nearly $250 billion economy, with a growth rate of 9.6 per cent and has a conducive atmosphere for FDI from Japan in all sectors.
Karnataka already has set up a Japanese Industrial Township at Vasanthanarasapura near Tumkuru town. They have executed many developmental projects in collaboration with Japanese companies. This township focuses on heavy engineering and machine tools, automotive and aerospace components.
The CM highlighted that Karnataka has quality human resources, reputed higher educational institutions, and a big thrust on research and development to offer. He further highlighted that the state has simplified its labour laws, and set up a single window for investors. The state also engages in regular discussion with the industry to create a stable, policy-driven environment.
Karnataka is already working with JETRO (Japan External Trade Organisation) for identifying and promoting start-ups. The state was also placed at the top in recent NITI Aayog 2019 Innovation Index.
The governement has started with various policies to make Karnataka an investor-friendly state. They launched the New Industrial Policy 2020-2025 to create employment opportunities and build a prosperous Karnataka.
Karnataka has significant potential in the field of electronic manufacturing sector and offers many incentives for investors, including 25% capital investment subsidy on land, to boost investments in the sector.