Friday, 15 July 2011

Karnataka government and Japan Chamber of Commerce & Industry sign MoU for sharing information



The Karnataka government entity Karnataka Udyog Mitra and Japanese Chamber of Commerce & Industry Bangalore (JCCIB), an association of Japanese companies situated in Bangalore, both have signed a MoU for information sharing on Industrial estates and Infrastructure development and to release the same in Japanese jointly.
In this current scenario where the global investment in India is gaining momentum, this agreement will stand for the support of Japanese companies in their future expansion plan as well as enhancement of existing operations in Karnataka. Currently, there are about 175 Japanese companies in Bangalore. And in future, there are plans of large scale investments for Two-wheeler manufacturing & its ancillaries and furthermore some electronic parts enterprises to venture in Bangalore. As it claims "Green, Clean and Cool City", Bangalore is abundant with green and offers an excellent living environment.

There is a Dialogue Monitoring Committee in place between Karnataka state and Japanese Chamber of Commerce & Industry, Bangalore (Formerly Commerce and Industry Committee of Japanese Association) since 2009 and engaged in various activities. Though there were information available on Industrial estates and roads infrastructure during these days, it was not adequate to support on venturing enterprises. The problems were in terms of contacting from multiple offices or difficulty in getting information as such.
But from now on, apart from publishing information, both parties will impart support on venturing enterprises, infrastructure development and to ease the formalities for incorporation etc. Last year June, Karnataka Government held a Global Investors Meet (GIM) to attract investment from domestic and overseas companies. This was participated by more than 2000 companies and 389 MOUs were signed on various projects (Total invest of $90 billion). 

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