Bengaluru, Aug 27: Karnataka Chief Minister BS Yediyurappa on Wednesday said India and Japan are natural partners and urged Japan to strengthen their partnership in the state.
"Addressed the Indo-Japan Business Forum virtual event today. Urged Japan, which has a significant presence in Karnataka to strengthen their partnership in the state. Our government has taken strong measures to build a robust economy and make Karnataka a benchmark state in India," the Chief Minister said in a tweet.
The Chief Minister said India and Japan are natural partners and would like to strengthen the partnership further.
"We have shared values as we both have belief in democracy, individual freedom and the rule of law," he said.
Stressing that India-Japan relationship has transformed into a partnership of great substance and purpose, the Chief Minister said: "To achieve more significant economic transformation, India encourages FDI investment from Japanese companies in all sectors. India-Japan Comprehensive Economic Partnership Agreement is a comprehensive deal covering both trades in goods and services."
The Chief Minister also highlighted that India is one of the "most attractive investment destinations for Japanese companies."
"FDI from Japan to India increased from USD 1.6 billion in 2017-18 to USD 3.2 billion in 2019-20. For us in Karnataka, Japan is an important partner," he said.
The Chief Minister said Karnataka is also one of the first states to lift the lockdown gradually and re-start economic activities.
"Our State is at the forefront of attracting FDI into the country, and I can assure you that we will set the benchmark as we progress beyond the COVID-19 phase," he said.
The Chief Minister underlined that Karnataka has set up a Japanese Industrial Township at Vasanthanarasapura near Tumkuru town.
"519 acres of land has been developed and made ready with infrastructure facilities such as roads, power, and water supply," he said.
The Chief Minister said his government has taken several steps to ensure investors find it easy to do business in Karnataka.
"We have simplified processes, set up a single-window for investors and engaged in regular discussion with the industry to create a stable, policy-driven environment," he said.
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