Karnataka’s Clean Mobility Policy to attract Rs 50,000 cr investment, generate 1 lakh new Jobs: Siddaramaiah

Karnataka CM Siddaramaiah on August 15 said that the state’s Clean Mobility Policy will attract Rs 50,000 crore in investment and generate 1 lakh new jobs.

In his Independence Day speech, he said, “The state government has drafted the Karnataka Clean Mobility Policy 2024-29, aiming to attract Rs 50,000 crore in investments within the clean mobility vehicle sector and create around one lakh new jobs. The policy is now in its final stage of approval.”

This announcement is significant as Karnataka has lost the manufacturing plants of Bengaluru-based EV firms Ola and Ather to neighboring Tamil Nadu.

Also, read: Karnataka govt to woo EV companies to set up manufacturing plants

The CM also highlighted that Karnataka ranked third in the country by attracting Rs 54,427 crore in FDI during 2023-24. “MoUs have been signed with 13 industries, which will bring in Rs 42,915 crore in investments and are expected to create around 22,600 jobs,” he said.

“During 2023-24, the government approved 591 investment projects through single window committees. This will result in an inflow of Rs 84,232 crore in investment and the creation of employment for 1,56,986 people. Our state also ranked first in exports during 2023-24, with a value of USD 1,66,545 million, representing a growth of 5.20 percent compared to the previous year,” he said.

Also, read: 'Shocking that Karnataka lost out to Tamil Nadu in landing investments from Ather, Ola'

The CM said that the Global Investors’ Meet—Invest Karnataka 2025, scheduled for February 2025, aims to attract investments from national and international investors. Preparations are in full swing, with roadshows being held across the country and worldwide to invite investors.

He emphasised the state’s efforts to enhance entrepreneurship and promote startups in the agriculture sector to generate employment for rural youth, stating that 40 agri-startups have been promoted under the Krishi Navodyama scheme.

Also, read: Karnataka to conduct Global Investors Meet in Bengaluru from Feb 12-14 next year

“A skill advisory committee has been established to provide skill training that matches the demand in the IT and BT sectors. The committee has submitted a detailed plan for courses aligned with industry needs, and steps will be taken to impart these skills,” he said.

“We are prioritising the filling of vacant positions across various state government departments, with approval to recruit 15,428 posts. The recruitment process for 11,512 posts, including 670 that were left unfilled during the previous government’s tenure, is currently in various stages of progress,” he adds.

Also, read: Bengaluru-based Ather Energy's Rs 2,000-cr investment in Maharashtra: Priyank Kharge, Mohandas Pai react