Investments Worth Rs 4,000 Crore Confirmed By Japanese Companies: Karnataka Minister

Karnataka Large and Medium Industries Minister MB Patil on Monday said that investments worth Rs 4,000 crore have been confirmed during the recently concluded visit to Japan, by the delegation led by him.

Expressing satisfaction with the success of the visit, he said that these new investments by some of Japan's leading companies would further strengthen the existing industrial ecosystem in Karnataka.

"Japanese investors arrive at decisions only after careful consideration. Moreover, Karnataka is home to more than 50% of the total Japanese companies operating in India," Patil said.

He said the earlier visit to Japan and South Korea had resulted in attracting investments of around Rs 6,500 crore, a statement from the minister's office said.

During the latest visit, discussions were held on several projects, including the expansion plans of Honda and a proposal by Sumitomo, in collaboration with Mukand Sumi, to set up a steel plant, the minister said.

Patil observed that the 50% tariff imposed on Indian goods by US President Donald Trump has caused some disruption. In such a situation, it has become challenging for investors to make decisions, he added.