Bengaluru: Karnataka has secured investment proposals worth a staggering Rs 10.26 lakh crore at the Global Investors’ Meet, which is set to create six lakh jobs, announced Medium and Large Industries Minister M.B. Patil on Friday.
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Investments to be Focused Beyond Bengaluru
Addressing reporters during the valedictory session of the Invest Karnataka-2025 summit, Patil revealed that 75 percent of these investments would be directed to areas outside Bengaluru. “We have received investment proposals of Rs 10,27,378 crore, which will create six lakh jobs. Of this, 75 percent pertains to ‘Beyond Bengaluru,’ with 45 percent allocated to North Karnataka,” he said.
Extensive Preparation for the Global Investors’ Meet
Patil emphasized that the state had been preparing for the event for six months. He and his department carried out roadshows across India and visited various countries to attract investors to Karnataka.
Renewable Energy Sector Leads Investment Proposals
The renewable energy sector has garnered the highest investment proposals, amounting to Rs 4.26 lakh crore. Following that, manufacturing and sunrise sectors like aerospace, defense, automobiles, electric vehicles, and Electronic System Design and Manufacturing (ESDM) will receive investments worth Rs 1.38 lakh crore.
Diverse Sectors Attracting Investments
General manufacturing, including sectors like food and agriculture, textiles, pharmaceuticals, machinery tools, and FMCG, will secure investments worth Rs 1.05 lakh crore. In the core manufacturing sector, including steel and cement, Karnataka has received proposals worth Rs 1.60 lakh crore. Infrastructure and industrial logistics sectors have attracted investment proposals totaling Rs 1.08 lakh crore.
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Focus on Greenfield Projects Over Brownfield Expansions
The minister assured that the Global Investors’ Meet was not merely about signing Memoranda of Understanding (MoUs) but ensuring that the investments would continue after the event. He highlighted the importance of prioritizing greenfield projects over brownfield (expansion) projects, noting that 70 percent of the received proposals are greenfield investments.
Key Investment Proposals and Highlights
Some of the notable investments include:
- JSW Group: Rs 1.2 lakh crore in renewable energy, cement, steel, and related sectors.
- Baldota Steel and Power Limited: Rs 54,000 crore for an integrated steel plant.
- Lam Research: Rs 10,000 crore for semiconductor equipment manufacturing and R&D.
- Volvo: Rs 1,400 crore for EV truck manufacturing.
- Samvardhana Motherson: Rs 3,700 crore in manufacturing, engineering, and assembly facilities.
- Emmvee Energy Private Limited: Rs 15,000 crore in solar photovoltaic cell manufacturing.
- Mahindra Susten: Rs 36,000 crore for renewable energy and tourism.
- Hero Future Energies: Rs 22,200 crore in renewable energy and green hydrogen projects.
- Schneider Electric: Rs 2,247 crore for electrical product manufacturing and R&D.
Investments in Wind Power and Industrial Infrastructure
- Suzlon Energy: Rs 21,950 crore in wind power and turbine manufacturing.
- ESR Advisers: Rs 2,500 crore to develop an industrial park and data center.
- TVS Motor: Rs 2,000 crore to establish an advanced R&D facility.
The investments reflect Karnataka’s thriving industrial ecosystem, fostering the growth of renewable energy, manufacturing, infrastructure, and technological innovation.