Karnataka Secures Rs 64.50 Bn Investment Commitment from Japan, South Korea
ECONOMY & POLICY

Karnataka Secures Rs 64.50 Bn Investment Commitment from Japan, South Korea

Karnataka has secured a significant investment commitment of Rs 64.50 billion from Japanese and South Korean firms, signalling a boost to the state's industrial landscape. This pledge is expected to generate approximately 1,000 employment opportunities, reinforcing Karnataka's position as a preferred destination for foreign direct investment (FDI) in India.

The investment commitment was announced during a virtual summit attended by key representatives from Karnataka, Japan, and South Korea. The summit focused on enhancing economic cooperation and fostering strategic partnerships between the state and these East Asian nations.

The investments span various sectors including manufacturing, technology, and innovation-driven industries, reflecting confidence in Karnataka's conducive business environment and skilled workforce. The influx of capital is set to accelerate Karnataka's economic growth and contribute significantly to job creation in the state.

The collaboration with Japanese and South Korean investors underscores Karnataka's proactive approach to attracting FDI and fostering sustainable economic development. The state government has committed to providing necessary infrastructure, regulatory support, and incentives to facilitate seamless investment inflows and ensure operational success for international companies.

Overall, the investment commitment highlights Karnataka's strategic positioning and proactive initiatives in driving economic prosperity through global partnerships and foreign investments.

Karnataka has secured a significant investment commitment of Rs 64.50 billion from Japanese and South Korean firms, signalling a boost to the state's industrial landscape. This pledge is expected to generate approximately 1,000 employment opportunities, reinforcing Karnataka's position as a preferred destination for foreign direct investment (FDI) in India. The investment commitment was announced during a virtual summit attended by key representatives from Karnataka, Japan, and South Korea. The summit focused on enhancing economic cooperation and fostering strategic partnerships between the state and these East Asian nations. The investments span various sectors including manufacturing, technology, and innovation-driven industries, reflecting confidence in Karnataka's conducive business environment and skilled workforce. The influx of capital is set to accelerate Karnataka's economic growth and contribute significantly to job creation in the state. The collaboration with Japanese and South Korean investors underscores Karnataka's proactive approach to attracting FDI and fostering sustainable economic development. The state government has committed to providing necessary infrastructure, regulatory support, and incentives to facilitate seamless investment inflows and ensure operational success for international companies. Overall, the investment commitment highlights Karnataka's strategic positioning and proactive initiatives in driving economic prosperity through global partnerships and foreign investments.

Next Story
Resources

Workplace Solutions Company IndiQube, Surpasses 100 Properties Milestone

Workplace solutions company, IndiQube has surpassed the 100 properties milestone. The company that started nine years ago with a single property in Bengaluru has now expanded across 14 cities and caters to 700+ clients. Today, the company has a portfolio of over 7.2 million square feet with presence across major tier I cities including Bengaluru, Pune, Chennai, Hyderabad, Mumbai, Gurgaon and Noida. Also, post pandemic the company has made its foray into tier II cities including Coimbatore, Jaipur, Madurai, Kochi, Vijayawada, Calicut and Mohali. In Bengaluru, IndiQube has 59 properties cove..

Next Story
Infrastructure Transport

Ashoka Buildcon turns lowest bidder for Rs 27.91 billion NHAI projects

Ashoka Buildcon Ltd announced on November 18, 2024, that it has emerged as the lowest bidder (L-1) for two National Highways Authority of India (NHAI) projects in West Bengal, with a combined value of Rs 27.91 billion. These Engineering, Procurement, and Construction (EPC) projects will be executed under the Hybrid Annuity Model (HAM). The first project involves developing a four-lane economic corridor between Bowaichandi and Guskara-Katwa Road (Km 89.814 to Km 133) of NH 116A (Package-3). This project is valued at Rs 13.91 billion, excluding GST, and is expected to be completed within 910 d..

Next Story
Infrastructure Energy

Tata Power, Jakson, Ashoka Buildcon lead solar EPC market in 1H 2024

Tata Power Solar, Jakson Green, and Ashoka Buildcon have emerged as the top utility-scale solar engineering, procurement, and construction (EPC) providers in India during the first half (1H) of 2024, according to Mercom India’s Solar Market Leaderboard for 1H 2024. Gensol Engineering and InSolare Energy also secured spots in the top five. Tata Power Solar led the market with a 32.7% share, followed closely by Jakson Green at 32.1%, while Ashoka Buildcon claimed the third spot with 6.5%. Gensol Engineering and InSolare Energy accounted for 6.2% and 5.1% of the market, respectively. Together..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000