K'taka seeks German investments

Karnataka has urged the German business community to invest in the projects in special economic zone (SEZ) being promoted at the two locations in the state.

Addressing a German business delegation here on Monday, Karnataka's industries minister Katta Subramaniam Naidu pointed out that SEZ projects are being promoted at Hassan (textiles, pharma, biotech, food processing and agro-based) and Mangalore (IT and petrochemicals).

"Besides, 19 SEZs promoted by the private sector are coming up. These SEZs have tremendous potential for investments in various sectors," he said.

The interaction was facilitated by the Bavarian Trade Commission and Karnataka Udyog Mitra, the nodal agency of the state government for mega investments.

The minister said that as many as 115 Indo-German collaborations were operating in the state.

"Almost all of them have tasted success with their Indian operations. Maybe, it is an encouraging factor for more German investments in Karnataka," he added.