KaGovt Plans Overseas Investment Offices In 5 Countries: MB Patil

New Delhi: The Karnataka government is considering setting up overseas offices for the Invest Karnataka Forum (IKF) in the United States, Japan, Taiwan, South Korea, and France to attract investment into the state’s industrial sector, Industries Minister MB Patil said on Tuesday.

The proposal was discussed at a meeting of the IKF Board of Directors at Khanija Bhavan, where Patil directed officials to assess the advantages and disadvantages of the move, consult relevant stakeholders and submit a report.“States are in intense competition to attract industrial investments. Some State governments have already taken steps to open offices in the countries mentioned above to attract investments. Karnataka cannot afford to lag in this regard,” Patil said.

He said the state would assess the industrial strengths and sectoral specialisations of each country before deciding on the next steps. Karnataka is increasingly focusing on manufacturing, semiconductors, aerospace and defence, making the attraction of fresh investments important for its industrial growth, the minister said.