JSW's Sajjan Jindal leads invest Karnataka forum; Zetwerk co-founder among members

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Sajjan Jindal, Chairman & MD of JSW Limited, has been nominated as the director of the reconstituted board of Invest Karnataka Forum (IKF). This decision was made in light of the rapidly evolving global industrial landscape, as announced by the State Industries Department in a press release on October 17.

Among other notable industry nominees named to the new board are Geetanjali Kirloskar, Chairperson and MD of Kirloskar Systems (auto sector), Arvind Melligeri, Chairman and CEO of Aequs Inc. (Aerospace & Defence), Ankit Fatehpuria, Co-founder of Zetwerk (Manufacturing Support Services Machine Tools sector), and Vijay Krishnan Venkatesan, MD of Kennametal (Machine Tools sector).

The IKF operates under the chairmanship of Karnataka Industries Minister MB Patil. The reconstituted board's mission is to promote the state's industrial ecosystem and provide a fresh perspective to attract investments to the state, according to Patil.

Driving Prosperity:
'Invest Karnataka Forum' - IKF Reconstituted
I have reconstituted the 'Invest Karnataka Forum' with the aim of attracting more capital to the state. Under the esteemed leadership of Shri Sajjan Jindal, we are reviving the 'Invest Karnataka Forum' (#IKF) to… pic.twitter.com/szOL0YNaRL

— M B Patil (@MBPatil) October 17, 2023

Additionally, the Karnataka government has established the Strategic Investments Committee (SIC) to guide investments towards the state. The committee, chaired by Patil, consists of professionals from various fields, including private equity, venture capital firms, startups, philanthropic organizations, and experts from different industries.

The SIC's members include Mruthyunjaya Hiremath, Director of AMD Inc., Ram T Chandnani, MD of CBRE Pvt. Ltd, Prashant Prakash, MD of Accel Partners, Nikhil Kamath, Co-founder of Zerodha, Ravi Manchanda, SMD of Pepper Global, Ashwin Kumaraswamy, Investment Director of Merica Group, Gauri Shankar Nagabhushanam, CEO of CapitaLand - India Business Parks, and K Ullas Kamath, former Joint MD of Jyothi Labs and Chairman of FICCI Karnataka State Council.

Charting a New Path: SIC's Maiden Voyage with a Multi Disciplinary Invest Karnataka Forum

We've formed a Multi Disciplinary Strategic Investment Committee (SIC) within the Invest Karnataka Forum for the very first time with distinguished Industry leaders.

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Shri Mrityunjaya… pic.twitter.com/mMPpZdMW39

— M B Patil (@MBPatil) October 17, 2023

In addition, the Additional Chief Secretary/Principal Secretary to Karnataka Commerce and Industries Department will serve as a member, and the Commissioner for Industrial Development & Director of Industries and Commerce will be the member secretary of the committee.

Patil expressed confidence that the diverse experience of the committee members would help shape the future of Karnataka's industrial ecosystem for the coming decades. "They will guide the department by understanding investor requirements and providing insights for policy formulation" he said.

He emphasized that these members will play a crucial role in establishing regional connections with countries like the United States, Germany, France, the Netherlands, Japan, Korea, and Taiwan, aiming to make Karnataka the preferred investment destination for both global and national investors.

Patil stated that the committee members will contribute to formulating long-term sector-specific roadmaps with structural interventions, making industries the engine of growth for Karnataka. They will also continuously assess progress on predefined parameters, such as ease of doing business, and make strategic adjustments to create a more investor-friendly environment in the state, ultimately resulting in increased investments, the statement adds.