Karnataka secures Rs 64,675 crore investment assurances through foreign tours in 2 years: MB Patil

MB Patil, Karnataka's Minister for Large and Medium Industries and Infrastructure

Karnataka has received investment assurances/MoUs worth Rs 64,675 crore through international tours over the last two years.

This information was revealed by Karnataka Minister for Commerce & Industries and Infrastructure Development, MB Patil, in a written reply at the Karnataka Legislative Assembly on December 13.

The investment assurances include Rs 25,000 crore from the United States, Rs 23,285 crore at the World Economic Forum annual meeting in Davos, Rs 15,000 crore from Taiwan, and Rs 1,390 crore from Japan and South Korea.

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“Over the last five years, foreign direct investment (FDI) inflow into Karnataka across industrial and service sectors stands at Rs 4,19,081 crore. During this period, the State High-Level Clearance Committee (SHLCC) approved 13 industrial projects with an FDI inflow of Rs 38,225.31 crore, which are expected to create 91,666 jobs. Of these, five projects have already been implemented, generating employment for 11,382 people,” said Patil.

Patil stated that Karnataka is hosting major events to further showcase investment opportunities, including the Invest Karnataka 2025: Global Investors Summit scheduled from February 12 to 14, 2025 and Aero India 2025, which will be held at the Yelahanka Air Base in Bengaluru from February 10 to 14, 2025.

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He also highlighted that the government has introduced sector-specific policies, such as the industrial policy and separate policies for Electric Vehicles, Aerospace, and Defence, which provide a range of incentives and concessions for investors.

“To attract more FDI, the Invest Karnataka Forum has been actively promoting the state by organising foreign tours and signing agreements with international companies,” Patil added.

Meanwhile, Patil also concluded its Europe Roadshow with two major investment MoUs worth over Rs 11,000 crore. “Hero Future Energies (HFE) will invest in renewable energy, green hydrogen, and e-methanol projects, creating 3,000 jobs. Krones will establish a bottling equipment manufacturing facility in Vemagal Industrial Park Phase 2, with plans for supplier-led ancillary investments. The roadshow featured over 50 meetings across the UK, Netherlands, Germany, and France, strengthening global partnerships ahead of Invest Karnataka 2025”, said a statement.

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