Daijiworld Media Network - Bengaluru
Bengaluru, Jan 24: Karnataka has received investment commitments worth over Rs 13,070 crore during the World Economic Forum (WEF) meeting held at Davos, Industries Minister M B Patil said on Saturday, describing the global summit as a “major springboard” for the state’s industrial growth.
The commitments span key sectors including aerospace, food processing, data centres, digital infrastructure, clean energy and advanced manufacturing, the minister said after returning from the five-day WEF meet.
Patil said more than 45 high-level meetings and consultations with global industry leaders were held during the event, which helped position Karnataka as a leading destination for artificial intelligence, Global Capability Centres (GCCs), research and sustainable urban development.
“These interactions have laid a strong foundation for fresh investment inflows and have also accelerated several projects already under implementation. They will further strengthen Karnataka’s competitive position in the next phase of global trade and industrial transformation,” he said in a statement.
Global business leaders praised Karnataka’s industry-friendly policies and availability of skilled human resources, reflecting the state government’s proactive approach to industrial development, the minister added.
Highlighting major investment announcements, Patil said the RP–Sanjiv Goenka Group (RPSG) has committed to invest Rs 10,500 crore over the next three years in Vijayapura and Ballari districts, providing a significant boost to the renewable energy sector in north Karnataka.
Global brewing major Carlsberg Group has reiterated its plan to set up a Rs 350 crore bottling plant at Nanjangudu, while Schneider Electric has proposed an investment of Rs 1,520 crore, including expansion of its IT operations in the state.
INOX GFL, which has already invested Rs 10,000 crore in Karnataka and commenced wind turbine blade manufacturing at Kushtagi, will invest an additional Rs 400 crore in wind power tower and solar panel manufacturing. Belrise Industries will invest Rs 300 crore to expand its Mysuru unit supplying components to TVS, he said.
The minister also said discussions were held with the Singapore Economic Development Board on establishing a ‘Singapore Park’ to attract Singapore-based companies. Efforts were also made to secure a significant share of Coca-Cola’s proposed Rs 25,760 crore investment in India for Karnataka.
Several global majors, including Nokia, US-based Vast Space, UAE-based Crescent Enterprises and Voyager Technologies, have shown interest in investing in the state. Bharti Enterprises, which has already invested around Rs 13,000 crore in Karnataka, has expressed interest in setting up a new data centre to further strengthen digital infrastructure.
France-based Mistral AI has shown interest in establishing a phased research and development centre in Bengaluru, while US-based Philip Morris has indicated its intent to manufacture smoke-free products in Karnataka.
Nokia Corporation has expressed keenness to establish a Global Capability Centre and research facilities in the state. In line with the government’s focus on developing cities beyond Bengaluru, Tech Mahindra has shown interest in expanding operations into Tier-2 cities, Patil said.
Highlighting the KWIN City (Knowledge, Wellbeing and Innovation) project near Bengaluru, the minister said London-based Imperial College has shared plans to set up a research and development centre there, while global cybersecurity firm Cloudflare is considering joining the initiative.
US-based Voyager Technologies and space technology company Vast Space have expressed interest in partnering with the state government, while UAE-based Crescent Enterprises has proposed investments across various sectors in Karnataka.
An MoU was also signed to facilitate Swiss companies in leveraging Karnataka’s innovation-driven ecosystem. Natural Fibre Welding (NFW Earth) is expected to submit a detailed expansion proposal to the state government.
Patil said the state’s participation at WEF helped strengthen bilateral trade ties through interactions with corporate leaders, investors, educational institutions and senior government officials from across the globe.