Global Economy

CM seeks Japanese firms to invest in exclusive industrial township set up for them

Chief Minister BS Yediyurappa on Wednesday sought investment from Japanese investors in the 519-acre exclusive industrial township set up only for Japanese investors at Vasanthanarasapura in Tumakuru district, about 88-km from Bengaluru.

The township is complete with all the necessary infrastructure including roads, power and water supply, the chief minister addressing the Indo-Japan Business Forum.

India and Japan are natural partners and would like to strengthen the partnership further. To achieve more significant economic transformation, India encourages FDI investment from Japanese companies in all sectors, he said.

Foreign direct investment (FDI) from Japan to India increased from $ 1.6 billion in 2017-18 to $ 3.2 billion in 2019-20, Yediyurappa said, describing Japan as an important partner for Karnataka.

Karnataka has significant potential in the electronic manufacturing sector and offers many incentives for investors, including 25% capital investment subsidy on purchase of industrial plots, he said.

The government, he said, has also relaxed labour laws and regulations to make Karnataka an attractive destination for investors.

The state government signed a joint statement on Japan-India Start-up Initiative to promote start-ups. Japan External Trade Organisation (Jetro) has established a start up hub in Bengaluru to identify Indian start-ups for the Japanese market.


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