Davos 2026: RPSG to invest Rs 10,500 crore in Karnataka, says MB Patil

Karnataka will see major investments from RPSG, InoxGFL, Ramky Group, Tech Mahindra, Lenovo, Axon Cables, and Schneider Electric, with plans for new facilities, skill centers, and collaborations, as announced at the World Economic Forum in Davos.

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RP-Sanjiv Goenka Group (RPSG), a major player in the renewable energy sector, will invest Rs 10,500 crore over the next three years in Karnataka’s Vijayapura and Ballari districts, state's large and medium industries minister MB Patil said on January 22.

The state would extend all necessary support to facilitate these investments, Patil said on the sidelines of the World Economic Forum (WEF) in Davos.

Also read: Davos 2026: DK Shivakumar invites global investors to Bengaluru; Karnataka holds talks on data centres, AI, manufacturing

The InoxGFL Group, which has already started making turbine blades for the wind energy sector in Kustagi, plans to set up a facility to manufacture large wind power towers at a nearby location in the coming days. The company has already invested Rs 10,000 crore in Karnataka, the minister said.

Ramky Group, which specialises in waste management, has expressed interest in setting up common effluent treatment plants (CETPs) in KIADB industrial areas. Discussions were also held with the group on setting up a pharma park in Karnataka.

Tech Mahindra has shown interest in investing in Tier-2 cities of the state, he added.

The state is keen on attracting greater investments from Singapore-based companies in sectors such as semiconductors, biotechnology and aerospace. Talks were held with representatives of the Singapore Economic Development Board (EDB) to build a ‘Singapore Park’ in Karnataka, Patil said.

Lenovo, a leading manufacturer of personal computers, laptops, tablets and smartphones, has held discussions on partnering with local suppliers and entrepreneurs. Axon Cables, which operates in the defence sector, has decided to expand its manufacturing footprint in India and has been invited to consider investing in Karnataka, the minister said in a statement.

Also read: Davos 2026: Karnataka holds talks with Coca-Cola, Tata, UPL, AB InBev and others

To ensure that Karnataka remains competitive in the next phase of global trade and industrial transformation, the state delegation held discussions with Nicholas Lang, managing director of Boston Consulting Group (BCG), on strategies related to tariffs, artificial intelligence and emerging technologies.

Schneider Electric has announced plans to establish 20 additional training infrastructure facilities in the state, with a long-term objective of expanding the network to 100 skill development centres. Discussions on further investments were also held with the Jubilant Bhartia Group and several other companies, Patil said.

To strengthen industrial ties between Karnataka and Swiss companies, the state government signed a memorandum of understanding with Swiss Chambers India at the summit. Swiss Chambers India head Satish Rao and the CEOs of six Swiss companies were present on the occasion, he added.