Japan’s collaboration will help realize Karnataka’s $1 trillion economic dream by 2032.

As of October 2022, around 228 Japanese companies have set up 537 offices across Karnataka and this number is increasing, indicating a steady increase in trade cooperation between Japan and Karnataka, Consul General of Japan in Bengaluru Sudomu Nakane said on Friday. .

„Japanese companies can expand their exports and reach the Middle East and Africa through India,” he observed.

At the 'Build India with Japan for the World’ summit organized by Bangalore Chamber of Commerce and Industry (BCIC), PwC and The Indo-Japan Business Council (IJBC), Mr. Sudomu spoke.

Collaboration between companies in Karnataka and Japan will greatly enhance the state’s vision of becoming a trillion dollar economy by 2032, he said.

„Japan-India business cooperation will synergize both economies by combining Japanese manufacturing know-how with India’s IT capabilities supported by its abundant skilled workforce,” the Consul General said.

Kirloskar Systems President and MD Geetanjali Kirloskar, Toyota Tsusho Insurance Broker India India has a relatively stable economy, which represents a huge growth opportunity for Japanese companies to set up a more robust, competitive manufacturing supply chain.

„There is a huge potential for both countries to develop flagship projects in industries that present the potential for cooperation, such as the chemical industry, which is a multi-billion dollar opportunity,” he suggested.

Another big opportunity, according to him, is the defense and aero industry, which wants to develop sub-assemblies locally with new and more autonomous manufacturing processes.

President L. Ravindran said BCIC office in Japan has been set up with a three-pronged strategy to promote Karnataka as an investment destination, to take a delegation of businessmen from Karnataka to Japan and to host a delegation of businessmen from Japan to Karnataka. BCIC.