Karnataka Eyes for Additional Investments: Minister M. B. Patil Leads Strategic Investment Discussions with Nidec Corporation in Kyoto Japan

Mediawire
New Delhi [India], July 25: The Minister of Karnataka for Large & Medium Industries and Infrastructure Development, M. B. Patil, spearheaded a high-profile delegation to Japan to engage in strategic investment discussions held at the Corporate Headquarters of Nidec, a global leader in electric motor technology. The delegation aimed to attract additional investments to Karnataka and foster long-term business partnerships, positioning the state as a prime destination for global companies.
Nidec Corporation, a global leader in electric motor technology and one of the largest comprehensive motor manufacturers in the world, has a significant presence in various industries, including automotive, industrial, renewables, electric vehicles (EV), and consumer electronics. With 50+ years of history, the company continues to grow and innovate in a growing portfolio of products and industries. The meeting with Nidec Executives focused on potential collaborations in electric motor technology and other sectors, emphasizing sustainability and advanced technological solutions.
The delegation included prominent representatives from the Government of Karnataka, underscoring the importance of this mission. Alongside Minister Patil were Manjunath Bhandari, Member of Legislative Council, Dr S. Selvakumar, IAS, Principal Secretary, Commerce & Industries Department, Gunjan Krishna, IAS, Commissioner, Commerce & Industries Department, Anil Dutt Raturi, Consul (Commercial) & HOC, Consulate General of India, Osaka-Kobe and H.N. Ravindra, Deputy Director, Invest Karnataka Forum. The representatives from the Nidec side were, Mitsuya Kishida, Group CEO & President, Tatsuya Nishimoto, Executive Vice President, Takamitsu Araki, First Senior Vice President, Takashi Kishimae, Vice President, David Sonzogni, President of Nidec Power, and Girish D Kulkarni, Country Managing Director of Nidec Motion & Energy India.
Minister Patil highlighted Karnataka's robust industrial ecosystem, strategic geographical location, and commitment to supporting global businesses through favourable policies and infrastructure development. The discussions focused on potential collaborations and strategic investments in Karnataka, emphasizing the importance of leveraging Nidec's expertise and innovation to drive economic growth and development in the region.
A pivotal point of discussion was Nidec's Rs 500 Cr. Investment under the leadership of Michael Briggs (President of Nidec Motion & Energy) in Hubli-Dharwad, Karnataka, marked by the groundbreaking event held in September 2023. This state-of-the-art facility will house six plants dedicated to manufacturing EV motors, industrial motors, elevator motors, generators, drives, and system solutions for renewable energy, data centers, and industrial applications. Construction began on March 2024 and the campus is expected to be completed within 14 months. Considering the significant growth opportunity, Nidec has expanded its initial scope of investment by an additional Rs 100 Cr and revised land requirement from 30 acres to 50 acres. The Nidec team expressed gratitude to the Government of Karnataka for their invaluable support towards their new project in Hubli-Dharwad. Minister M. B. Patil reaffirmed his commitment to supporting all Nidec projects, ensuring comprehensive assistance across all areas.

Minister Patil also extended an invitation to Nidec to participate in the upcoming Global Investors Meet (GIM) in Karnataka scheduled in February 2025. This prestigious event would provide an excellent platform for further discussions and networking, offering Nidec the opportunity to engage with other key stakeholders and explore more investment prospects. The Minister expressed confidence that Nidec's participation in the GIM would pave the way for fruitful collaborations and significant investments that would benefit both parties.
Country Managing Director, Girish D Kulkarni expressed gratitude for the support from Minister M. B. Patil and the Government of Karnataka, stating that "the visit of Minister M. B. Patil and the Karnataka delegation underscores their commitment to fostering a conducive business environment." Kulkarni commended both the agency's ongoing support and recent fruitful discussions aimed at mutual growth and innovation, emphasizing the potential for long-term collaboration between Nidec and Karnataka.
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