Karnataka received investment proposals worth Rs 10.27 lakh crore during the three-day Invest Karnataka summit, which concluded in Bengaluru on Friday. The ambitious commitments are expected to generate over six lakh jobs, boosting employment opportunities across the state.
“The state is determined to convert at least 70% of these investment commitments into reality over the next two years. More than 45% of the proposed investments are directed towards North Karnataka, reinforcing the government’s emphasis on regional economic balance and development,” MB Patil, Minister for Large and Medium Scale Industries, Karnataka, announced at the conclusion of the summit.
Investment breakdown
Of the total Rs 10.27 lakh crore investment proposals, Rs 4.03 lakh crore consists of recognised or publicly announced commitments, while Rs 6.23 lakh crore comes from MoUs signed during the event. Notably, nearly 75% of the proposed investments are located outside Bengaluru district, aligning with the government’s Beyond Bengaluru initiative, which seeks to promote decentralized industrialization and economic expansion.
Sector-wise investment distribution
The renewable energy sector emerged as the largest beneficiary, receiving 41% of the total investment proposals. Manufacturing followed with a 25% share, while the remaining investments were directed towards infrastructure, logistics, and startup capital. Investment commitments in specific sectors include Rs 1.38 lakh crore for industries such as aerospace, electric vehicles, and R&D, while core manufacturing sectors, including steel and cement, attracted Rs 1.59 lakh crore.
The renewable energy segment alone secured proposals worth Rs 4.25 lakh crore. Infrastructure and industrial parks received Rs 1.07 lakh crore, while general manufacturing and startup capital saw commitments of Rs 1.05 lakh crore and Rs 89,864 crore, respectively.
Major investment announcements
Among the most significant investment commitments, JSW Group pledged Rs 1.2 lakh crore towards renewable energy, cement, steel, and affiliated businesses. Baldota Steel & Power Limited announced an investment of Rs 54,000 crore for an integrated steel plant. In a boost to India’s semiconductor industry, Lam Research committed Rs 10,000 crore towards semiconductor equipment manufacturing and R&D.
The automotive sector also saw substantial investments, with Volvo allocating Rs 1,400 crore for electric truck manufacturing and Honda announcing a Rs 600 crore expansion for electric two-wheeler production. Samvardhana Motherson committed Rs 3,700 crore for its manufacturing and assembly units, while Tata Advanced Systems Limited (TASL) earmarked Rs 1,530 crore for helicopter assembly and gun manufacturing projects.
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