Karnataka Minister Invites German Companies to Invest in State

Inviting Germany to collaborate with Karnataka in hosting the 'Global Investors Meet (GIM)' in November 2022, state Large and Medium Industries Minister Murugesh Nirani said that the GIM would provide a great platform to explore investment opportunities.

The minister was interacting with a delegation led by the Consul General of Germany, Achim Burkett, here.

"Karnataka and Germany share a strong relationship, especially in areas of trade and FDI. Our state is home to nearly 200 German companies such as Bosch, Siemens, Carl Zeiss etc. We both focus on major industries like auto and auto components, engineering and machine tools, chemicals, innovation and R&D, etc.," Nirani said.

Briefing on the business ecosystem in the state, Nirani said the state government has taken several measures to enhance investor-friendly atmosphere.

"Karnataka attracted the third highest FDI in India in 2020-21 at $7.6 billion with 14 per cent national share. It is home to numerous auto OEMs, auto component and machine tools manufacturers, EV startups and R&D centres. Bengaluru is the world's fourth largest technology and innovation cluster," the minister added.

Deputy Consul General Friedrich Birgelen was also present during the meeting.