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

Invest Karnataka

Karnataka is witnessing a surge in investments, with Mahindra Group and Jindal Group revealing big ticket investment plans on the first day of the Invest Karnataka Global Investors Meet.

Anand Mahindra, chairman of Mahindra Group, announced a substantial investment of Rs 40,000 crore across sectors such as renewable energy, tourism, defence, electric vehicles, and real estate in Karnataka over the next five years.

"Mahindra Susten plans to invest Rs 35,000 crore to develop 5+ GW of solar and hybrid projects in five years, creating 6,000–8,000 jobs. Mahindra Holidays, already operating resorts in Karnataka, is exploring expansion in Gokarna and Hampi. “We plan to invest Rs 1,000 crore and are in discussions with officials, seeking support for land aggregation,” he said.

The group is already investing Rs 5,000 crore in real estate projects in Bengaluru, with an additional Rs 6,000 crore planned.

Meanwhile, steel magnate Sajjan Jindal announced that Jindal Group will invest over Rs 1 lakh crore in Karnataka in the coming years. Of this, Rs 45,000 crore will be allocated to steel production, while Rs 56,000 crore will be directed toward hospitality, solar energy, green hydrogen, and other eco-friendly ventures.

Among the major investment announcements at Invest Karnataka 2025 are:  JSW Neo Energy Ltd. has committed Rs 56,000 crore for solar and wind projects, battery energy storage, blade manufacturing, and setting up a Wind Turbine Generator plant.

Baldota Steel & Power Ltd. has announced an investment of Rs 54,000 crore for an integrated steel plant. Tata Power Renewable Energy Ltd. plans to invest Rs 50,000 crore for renewable energy power projects and rooftop solutions across the state. ReNew Pvt. Ltd. has committed Rs 50,000 crore for setting up 4GW of renewable energy projects. Serentica Renewables India Pvt. Ltd. has planned Rs 43,975 crore for renewable energy projects. JSW Group will invest Rs 43,900 crore in JSW Cement and Steel and its affiliates. Mahindra Susten Pvt Ltd. has earmarked Rs 35,000 crore for renewable energy projects. Hero Future Energies has planned an investment of Rs 22,200 crore for projects in renewable energy, green hydrogen, and its derivatives. Suzlon Energy Ltd. has announced Rs 21,950 crore for wind power projects. Essar Renewables Ltd. will invest Rs 20,000 crore, while Avaada Energy Pvt. Ltd. has committed Rs 18,000 crore.

Epsilon Group has announced an investment of Rs 15,350 crore for manufacturing anode and cathode materials. Emmvee Energy Private Limited has planned Rs 15,000 crore for manufacturing solar photovoltaic cells and modules. Lam Research will invest Rs 10,000 crore in semiconductor equipment manufacturing. AMPIN Energy Transition Pvt. Ltd. has committed Rs 10,000 crore. ACME Solar Holdings Ltd. will invest Rs 10,000 crore. O2 Power Pvt. Ltd. has planned Rs 10,000 crore for setting up renewable energy solar and wind projects. Continuum Green Energy Group has committed Rs 10,000 crore for developing renewable energy projects. Sotefin Bharat has announced Rs 8,500 crore for the construction and installation of fully automated robotic multilevel car and bus parking systems. Shree Cement Limited has planned an investment of Rs 8,350 crore for an integrated plant and clinker grinding unit. Hexa Climate Solutions Pvt. Ltd. has announced an investment of Rs 8,000 crore.

Other key investments include Safran, which will invest Rs 225 crore for manufacturing avionics, and Schneider Electric, which has committed Rs 2,247 crore for manufacturing electrical products and related research and development activities. Honda has planned Rs 600 crore for manufacturing electric vehicles. Hitachi Energy will invest Rs 1,000 crore across manufacturing and R&D. Bosch has announced Rs 450 crore for manufacturing and R&D. Havells has committed Rs 710 crore for the expansion of existing manufacturing at Tumakuru and for a new R&D facility in Bengaluru.

TVS Motor Company has announced Rs 2,000 crore to establish a state-of-the-art R&D facility. Ultratech Cement has planned an investment of Rs 4,500 crore for cement manufacturing. Dalmia Cement has committed Rs 3,000 crore for cement manufacturing. Samvardhana Motherson will invest Rs 3,700 crore for manufacturing, engineering, and assembly facilities. Balaji Wafers has planned Rs 550 crore for manufacturing and distribution of salty snacks and wafers. ESR Advisers has announced an investment of Rs 2,500 crore for setting up industrial parks and data centers.

Additionally, nine universities, including St. John’s University of New York City, have expressed interest in setting up facilities in KWIN City over the coming years.

12 new investment zones

Large and Medium Industries Minister M B Patil has announced that Karnataka will establish 12 new investment zones across 30,000 acres, in addition to over 200 existing industrial areas. Speaking at the inaugural event of GIM Invest Karnataka 2025, he said that these zones will be equipped with world-class infrastructure, with Rs 3,800 crore allocated for providing clean water to industrial areas.

The government aims to reduce production costs while enhancing efficiency through a “cluster-based policy,” which involves setting up clusters for aerospace and defence, electric vehicle manufacturing, pharma, deep-tech, and drone parks across the state.

The Karnataka Industrial Areas Development Board (KIADB) has already developed over 85,000 acres of industrial land, accommodating 25,000 industries. With growing global competition and economic uncertainties, Karnataka is determined to redefine its industrial landscape through digital transformation, eco-friendly initiatives, and competitiveness, positioning itself as a global manufacturing and innovation hub.

Patil said that technological adoption, investment attraction, and industrial competitiveness will be key drivers of future economic growth. The government is also implementing digital transformation within the industrial sector while focusing on eco-friendly initiatives to reduce emissions. Special attention is being given to small and medium industries, which employ 55 lakh people across 8 lakh medium, small, and micro units, to drive economic growth and job creation, the release adds.