From Our Special Correspondent
Daijiworld Media Network
Bengaluru, Dec 4: Leading semi-conductor manufacturer NXP of Netherlands, has promised to invest Rs 8,400 crore ($1 Billion) in Karnataka ahead of the global Invest Karnataka 2025.
Large and Medium Industries Minister M B Patil, who is leading a roadshow in the Netherlands to attract global investment ahead of Invest Karnataka 2025 summit, mentioned that that the State has unmatched ecosystem for innovation and industry.
Patil said NXP, one of the world’s leading semiconductor manufacturers, plans to allocate a substantial portion of its Rs 8,400 crore ($1 billion) global R&D investment to Bangalore over the next five years.
According to the minister’s office, the State delegation met Maurice Geraets, Executive Director at NXP and explored the company’s strategic expansion plans, emphasizing the pivotal role of Karnataka in advancing global R&D capabilities.
Geraets reiterated NXP’s commitment to the state and expressed enthusiasm for future collaborations in start-ups and manpower skilling.
Patil assured full government support for NXP’s initiatives and extended a formal invitation to the company’s leadership for Invest Karnataka 2025.
Further strengthening Karnataka’s global ties, Patil engaged with Philips, where discussions centered on the continued expansion of their Innovation Campus in Bangalore, bolstered by a Rs 445 crore (€50 million) investment in 2023. He urged the company to broaden its footprint with a manufacturing facility in the state, assuring seamless facilitation.
The discussion aimed to position Karnataka as a global hub for investment and innovation, with significant focus on the electronics, aerospace, and renewable energy sectors, alongside the ambitious (KWIN) City initiative.
The delegation also met with Signify, formerly Philips Lighting, the world’s leading lighting solutions provider.
Patil highlighted Karnataka’s potential as a manufacturing base under the China+1 strategy, encouraging investments that cater to both domestic and export markets. Signify showcased its ground-breaking projects, including lighting of Vidhana Soudha, and expressed interest in further collaboration.
Conversations with Heineken spotlighted Karnataka as a strategic market, with discussions on policy reforms to accelerate manufacturing investments. Patil invited Heineken’s global leadership to Invest Karnataka 2025, reinforcing the state’s pro-business approach.
The Netherlands roadshow underscored Karnataka’s strengths across innovation, semiconductors, renewable energy, and manufacturing, positioning the state as a top-tier destination for global investors at Invest Karnataka 2025.
Selvakumar S, Principal Secretary, Department of Commerce and Industries, Smt Gunjan Krishna, Commissioner for Industrial Development and Director, Department of Commerce and Industries accompanied the minister.