Karnataka receives Rs 10.27 lakh crore investment proposals during investors' meet, likely to generate 6 lakh jobs

Karnataka has received investment proposals worth Rs 10.27 lakh crore in investments during the three-day Invest Karnataka summit, which concluded in Bengaluru on Friday.

Speaking to reporters, Karnataka Minister of Large and Medium Scale Industries MB Patil said: "The total investments committed to Karnataka as part of GIM is Rs 10.27 lakh crore, with an employment generation potential of over 6 lakh.More than 45 percent of investments are in North Karnataka. We aim to realise at least 70 percent of total investments over the next two years."

Also, read: Invest Karnataka: Mahindra, Jindal, and others unveil major investments on day 1

"Of the total Rs 10.27 lakh crore, Rs 4.03 lakh crore comprises investment commitments that have been recognised/announced, while Rs 6.23 lakh crore is based on MoUs signed." he said.

Patil also said that 70 percent of the investment commitments are in Beyond Bengaluru clusters. "Even more encouraging is that nearly 75% of these investments are outside Bengaluru district, with over 45% concentrated in North Karnataka. This aligns with our vision for balanced regional growth."

Also, read: Karnataka Clean Mobility Policy 2025-2030 targets Rs 50,000 crore investments, 1 lakh jobs

According to industries department, major share is contributed by renewable energy (41  percent of total investments), followed by manufacturing – core (15 percent), sunrise sectors (14 percent), infrastructure & industrial/ logistics parks (11 percent), general manufacturing (10) and startup capital (9 percent).

This total investment proposals are: sunrise sectors (A&D, Auto/EV, ESDM, R&D/GCC): Rs 1.38 lakh crore, manufacturing - general (food and agri, textiles, pharma, machine tools, FMCG, etc): Rs 1.05 lakh crore, manufacturing - core (steel, cement,etc): Rs 1.59 lakh crore, renewable energy (Rs 4.25 lakh crore), infrastructure & industrial/logistics (city gas distribution, telecom, airports, skilling infra, data centres, etc) (1.07 lakh crore) and startup capital (89,864 crore).

"Of the projects from the industries department, 70% of the projects are greenfield projects" said Patil.

List of key investment announcements during Global Investors Meet include

• JSW Group – Rs 1.2 lakh crore across renewable energy, cement, steel and affiliate businesses
• Baldota Steel & Power Limited – Rs 54,000 crore investment for an integrated steel plant.
• Lam Research - Rs 10,000 crore investment for semiconductor equipment manufacturing and R&D
•  Volvo – Rs 1,400 crore for manufacturing of EV trucks
• Samvardhana Motherson – Rs 3,700 crore for manufacturing, engineering and assembly facilities
• Safran – Rs 225 crore for manufacturing of avionics
•  Honda – Rs 600 crore for manufacturing of EV two-wheelers
•  Emmvee Energy Private Limited – Rs 15,000 crore investment for manufacturing solar photovoltaic cells and modules.
•  RSOLEC – Rs 5000 crore towards manufacturing of solar ingot wafers
•  International Battery Company – Rs 390 crore for Li-Ion Cell manufacturing
•  Krones – Rs 315 crore for bottling machine manufacturing
•  NIDEC – Rs 600 crore for manufacturing of motors
•  TASL – Rs 1,530 crore for Helicopter Final Assembly Line (FAL) for Airbus’ H125, Gun manufacturing & other projects
• Wings Viterra – Rs 350 crore for multi pulse processing plant
• Balaji wafers – Rs 550 crore for manufacturing and distribution of salty snacks and wafer
• Mahindra Susten Pvt Ltd – Rs 36,000 crore across renewable energy projects and tourism
• Hero Future Energies – Rs 22,200 crore investment for projects in renewable energy, green hydrogen and its derivatives
•  Epsilon Group – Rs 15,350 crore investment for manufacturing anode and cathode materials.
• Shree Cement Limited – Rs 8,350 crore Investment for integrated plant and clinker grinding unit
•  Schneider Electric – Rs 2,247 crore for manufacturing of electrical products and related Research and Development (R&D) activities
• Hitachi Energy – Rs 1,000 crore across manufacturing and R&D
•  Havells – Rs 710 crore for expansion of existing manufacturing at Tumakuru and also new R&D facility in Bengaluru
• Suzlon Energy Ltd – Rs 21,950 crore investment for wind power projects and wind turbine generator manufacturing
• ESR Advisers – Rs 2,500 crore for setting up industrial parks and data centres
• TVS Motor Company – Rs 2,000 crore to establish a state-of-art R&D facility