A first for Karnataka – A 50 member Japanese delegation to visit GIM 2012
Bangalore- In what could propel Karnataka as the most favoured investment destination in India, over 23 medium and major companies have confirmed their participation at the Karnataka Government’s flagship event, Global Investor’s Meet 2012. The state will play host to a 50 plus member delegation visiting Bangalore to explore business opportunities, a record of sorts and a first from Karnataka.
Speaking on the response from Japan, Shri Murugesh Nirani, Minister for Large & Medium Industries, Government of Karnataka said, “The response we received during our roadshows was very encouraging and it is heartening to note that the response has translated into reality. We welcome Japanese industries to come and do business here. On behalf of the Government of Karnataka, I have promised the industries of every help they need to be comfortable here.”
“Karnataka has attracted industries from Japan in a very big way. Presently it houses 182 Japanese companies, boasting of the largest concentration only after Delhi, Chennai and Mumbai regions. The response generated from the road-shows this year has been very encouraging and we see many more companies making it to Karnataka thus bagging the number one position,” said Maheshwar Rao, IAS, Commissioner of Industries and Commerce, Government of Karnataka.
“GIM 2012 is set to welcome a 50 plus member delegation including Japanese Government Officials, Research Institutions, small, mid size companies & few large enterprises. This will be the largest country delegation at the GIM. The delegation will include companies from varied sectors like automobile, auto-components, machine tools, renewable energy, Infrastructure development etc. Karnataka ranks third highest in FDI inflow from Japan,” Mr Rao added.
The delegation will also see some companies that were severely affected during the 2011 March tsunami in Japan and as an opportunity to assist them to tap the business opportunity in Karnataka, the Japanese government has facilitated their participation in the delegation.
A very important aspect of this delegation is that the Japanese companies are looking at strategic partnerships with Indian companies in terms of contract manufacturing and distribution of products manufactured by Japanese companies.
To provide better reach to the visiting and participating companies, JETRO has organized a special B2B session with the assistance of IJCCI (Indo-Japan Chamber of Commerce & Industries) on June 6 while the country session of Japan will be held on June 7 where Indian companies interested in doing business with the Japanese can participate in the session and have the access of Japanese business opportunities.
Meanwhile, the Government of Karnataka is contemplating providing 1000 acres of land for establishing Japanese City near Bangalore as also exploring possibilities of availing the Japanese expertise available in the field of consultancy for execution of High speed railway projects. To service the Japanese companies on their financial needs, the MIZUHO Corporation Bank is setting up its branch in Bangalore.