Image Credits - PIB
Toyotetsu India Auto Parts Pvt Ltd announced a major investment of Rs 450 crore to establish a new plant in Bidadi, near Bengaluru. This investment is part of the company’s broader strategy to cater to the growing demand for the Innova Hycross and to support Toyota Kirloskar Motor Limited, one of India’s leading automobile manufacturers.
The investment by Toyotetsu India is part of a larger package of approvals given by the Karnataka Single Window Clearance Committee (SLSWCC) on August 17. The committee, chaired by Karnataka Minister for Large, Medium Industries, and Infrastructure, MB Patil, approved a total of 20 projects amounting to Rs 2,280.52 crore. These projects are expected to generate 3,457 new jobs, contributing to the state’s economic development.
Among the notable projects approved are ILV South Warehousing Parks Private Limited, with plans to invest Rs 423 crore, and Aoyama Seisakusho Co., which intends to invest Rs 210 crore to establish an automotive fasteners production facility in Vasanthanarasapura. The investment by Aoyama Seisakusho is aimed at bolstering the region’s manufacturing capabilities, further positioning Karnataka as a hub for the automotive industry.
Minister MB Patil highlighted the significance of these investments in fostering economic growth and creating job opportunities. The approved projects include six major large and medium-sized enterprises with capital investments exceeding Rs 50 crore, totalling Rs 2,025.71 crore. These projects alone are expected to create employment for around 2,440 people, reflecting the government’s commitment to supporting industrial expansion.
Alongside the major investments, the SLSWCC also greenlit 13 new projects with capital investments ranging from Rs 15 crore to Rs 50 crore, totalling Rs 214.81 crore. These smaller projects are anticipated to generate employment for approximately 1,017 people, further enhancing the state’s economic vibrancy.
The new plant in Bidadi marks Toyotetsu India’s fourth manufacturing facility in the region, underscoring the company’s commitment to expanding its operations in Karnataka. This move aligns with the state’s strategic focus on attracting investments in the automotive sector, a key driver of Karnataka’s industrial growth.