Karnataka Eyes Major Investment Deals in Japan: Reviving Industrial Growth

Karnataka Industries Minister M B Patil visited Japan to discuss investment opportunities with JFE Shoji and other firms, focusing on reviving the New Government Electrical Factory in Hubballi. Talks centered on plans for electric vehicle components, a steel unit in Koppal, and advanced manufacturing technologies.

Karnataka Industries Minister M B Patil spearheaded a high-level delegation to Japan to attract major investments for the state, officials revealed on Wednesday. Discussions were held with Japan's JFE Shoji Company to revive the New Government Electrical Factory (NGEF) in Hubballi under a state partnership agreement.

During the talks, Patil highlighted JFE's leadership in manufacturing power converters, inviting company executives to India for further discussions. The Japanese firm committed to a Rs 400-crore project to produce motor cores for electric vehicles, officials confirmed.

The Karnataka delegation also secured significant investment commitments from Sumitomo and Yaskawa, including a Rs 2,345 crore steel manufacturing unit in Koppal and a motion control and drives unit in Bengaluru, reinforcing Karnataka's status as a major investment hub in India.

(With inputs from agencies.)