The Karnataka government signed Rs 22,000 crore worth of memorandums of understanding (MoUs) with seven companies including Microsoft, Web Werks and Hitachi, on Day 2 of the World Economic Forum in Davos.
Web Werks inked an MoU with the Karnataka government for the setting up of a Rs 20,000 crore data centre park, state industries department said on January 17.
Hitachi signed an MoU focusing on economic development in the rural sector, healthcare, education, and panchayat e-governance. Hitachi's plans include the initiation of M-Star Telemedicine Deployment through Hitachi MGRM Net.
Four other companies signed agreements collectively valued at over Rs 2,000 crore.
Microsoft also entered the fray to collaborate on skilling and governance initiatives.
Karnataka minister for large and medium industries and infrastructure development MB Patil also held talks with heads of Volvo group, Nestle, Sony, Inox Group, HP, Lulu Group, Honeywell, Takeda Pharma, Coinbase, BL Agro, Tillman Global and others firms.
Also, read: WEF 2024: Indian states keen on tapping 'China-Plus-One' opportunity in Davos
These partnerships are poised to propel the state into a new era of technological advancement, infrastructure development, and economic growth, Patil said.
"The primary objective is to establish cutting-edge infrastructure, capitalising on the robust existing ecosystem and the highly attractive market dynamics in the region," he said. Patil also assured them of the government’s complete support and cooperation in their future ventures in Karnataka.
Here are the major highlights from the Karnataka Pavilion on Day 2 of the World Economic Forum in Davos:
MoU with Microsoft
The MoU between the Karnataka government and Microsoft aims to uplift under-served youth, focusing on girls, job seekers, individuals with disabilities, nano entrepreneurs, and those in regions with low workforce participation. Microsoft RISE, a digital skilling programme, offers 70 hours of training in digital productivity, employability, entrepreneurship and communication skills.
Webwerks
Webwerks plans to set up a 100 MW Data Centre in Bengaluru. The company expressed its intention to establish a cutting-edge connectivity hub, featuring state-of-the-art hyper-scale data centres in Bengaluru.
Honeywell
Honeywell plans to collaborate with the Karnataka government, using sensors and IoT for applications in traffic management and monitoring government services like waste management.
Lulu Group
Lulu Group will invest Rs 300 crore in a food processing plant in Vijayapura, aiming to enhance export capacity by focusing on Northern Karnataka. With a vast footprint of over 250 malls, the Lulu Group sources a substantial quantity of fruits and vegetables of over 200 tonnes monthly from Karnataka.
Takeda Pharmaceuticals
Takeda Pharmaceutical Company, a Japanese multinational pharmaceutical company, wants to establish a Global Innovation Center in Bengaluru, creating 1,000 digital roles, and emphasising diversity and inclusion. The state government will collaborate with local academic institutions and organisations.
BL Agro
BL Agro, a 50-year-old company, plans to expand in Agritech, Agri fintech, and food processing in Karnataka, focusing on both the South and Northern regions.
HP
Karnataka's robust ecosystem offers collaboration potential with HP Inc, focusing on skilling initiatives and Industry 5.0. The state's extensive network of vocational training providers makes it an ideal destination for innovation and growth.
Inox Air Products
Inox Air Products is considering expanding into Karnataka, aligning with the state's cultural diversity. It is planning to set up a Rs 150 crore industrial gas manufacturing facility in North Bengaluru.
Sony
Sony's R&D division plans to strengthen operations in Bengaluru, recruiting top-tier AI talent and researchers. Collaboration with local academic institutions and the Gaming Center of Excellence planned by the state IT-BT department is anticipated.
Hitachi
Hitachi signed an MOU with the Karnataka government on economic development through work in the rural sector, healthcare, education, and Panchayat e-governance to create opportunities for the people of Karnataka. Hitachi plans to start with M-Star Telemedicine Deployment through Hitachi MGRM Net.
Volvo Group
Volvo is focusing on fuel cells onboard vehicles, with ongoing tests to convert vehicles from internal combustion engines in India. Future endeavours involve the introduction of LNG with a dual-source system for buses, providing a range of 500 km to 700 km. The Karnataka government has promised to facilitate policy support for widespread LNG vehicle adoption.
Nestle
Nestle, which employs 1,800 individuals in Nanjangud, plays a pivotal role in the coffee industry in the state. The company intends to boost production to 22,000 tonnes by collaborating with 5,000 farmers and running a demonstration farm for coffee plantation training. Anticipating the operationalisation of a biomass plant in the first half of 2025, Nestle aims to position Karnataka as a hub for sourcing clean energy with the support of the government.
Tillman Global
Tillman Global has expressed interest in telecommunications infrastructure investments in Karnataka, considering solar options for data centres. An investment plan of %25-30 billion is anticipated over the next decade.
Coinbase
Coinbase has outlined plans for international expansion in Karnataka, emphasising collaboration on Web3.0 training and blockchain technology applications.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
