Karnataka to strengthen industrial ties with Singapore: Minister M B Patil

Bengaluru, Nov 12 (PTI) The Karnataka government is planning to send a delegation to Singapore next year as the Southeast Asian nation offers the state significant potential to deepen industrial and trade linkages, Large and Medium Industries Minister M B Patil said on Wednesday.

Ahead of the visit, an official-level meetings will be held to explore avenues for enhancing bilateral industrial cooperation, he said.

"Among ASEAN nations, Singapore is the largest source of foreign direct investment (FDI) in India, offering Karnataka valuable opportunities to expand industrial and trade partnerships. To make the best use of this potential, a visit to Singapore is planned during the first half of 2026," Patil said in a statement shared by the minister's office.

Patil held discussions with Gan Siow Huang, Singapore's Minister of State for Foreign Affairs, Trade and Industry, at Khanija Bhavan about investment and industrial collaboration between Karnataka and Singapore.

Gan was in Bengaluru to inaugurate the newly established Enterprise Singapore Centre.

Speaking about the meeting, the minister said, "Singapore is globally recognised for its excellence in the aviation sector, particularly in the Maintenance, Repair and Overhaul (MRO) segment. Gan has assured us that Singapore will extend its cooperation to Karnataka in this field." He further informed her that Karnataka offers excellent investment opportunities in sectors such as information technology, semiconductors, fintech, chip design, and pharmaceuticals.

"Since 2020, Singaporean companies have invested USD 174.88 billion in India, accounting for about 24 per cent of the country's total FDI inflow. Over 9,000 Indian companies are operating in Singapore, while 440 Singaporean firms are active in India," Patil added.

Deputy Chief Minister D K Shivakumar, who also held discussions with the delegation led by Gan said that Singapore has shown keen interest in conducting trade and business activities in Bengaluru.

The discussions focused on technology sharing and the establishment of an industrial park.

"Last year, officials from the Singapore Consulate had visited us. On Thursday, they will be inaugurating their office in Bengaluru. I have proposed that if they agree, we can construct a multi-storey building so that all their offices can function under one roof," Shivakumar said in a statement issued by his office.

The deputy chief minister recalled that he had earlier discussed this idea with representatives of other countries as well but some of them had concerns about security.

"Now, we are making a fresh effort. Many people from different countries are working in Bengaluru and are showing interest in investing here," he added.

Meanwhile, Australian Consul General Hilary McGeachy called on Minister Patil and discussed investment opportunities in Karnataka in sectors such as education, space, biotechnology, advanced manufacturing, aerospace, defence, and green and renewable energy, the statement said.

The minister's office said that Patil also held discussions with Jabez Stuart Adams, President of the Senate of the U S State of Utah, and Jonathan Freedman, President and CEO of the World Trade Center Utah. The discussions focused on potential investment opportunities in Karnataka in the aerospace, defence, and technology sectors.

Speaking after the meeting, the minister said, "Companies from Utah are exploring opportunities in sectors such as manufacturing, life sciences, diagnostics, education, and e-mobility. We briefed Adams and Freedman about Karnataka's industrial policy, infrastructure, incentives, concessions, and single-window clearance system," he stated.

According to Patil, Utah is also a leading hub for fintech. In addition, universities such as the University of Utah, Brigham Young University, and Utah State University are renowned for their higher education. These institutions have expressed interest in either setting up campuses in Karnataka or collaborating with reputed educational institutions in the state.

"All these proposals will be considered positively," the minister added. PTI AMP KH