From Our Special Correspondent
Daijiworld Media Network
Bengaluru, Feb 14: The four-day mega Invest Karnataka 2025 Summit, which drew to a close on Friday, turned out to be a huge success with the State attracting a bumper investment of Rs 10.37 lac crore and employment creation potential of six lac.
While areas Beyond Bengaluru netted bulk of the investment to the tune of 75%, the Northern Karnataka region saw an investment of the order of 45%, according to Large and Medium Industries Minister M B Patil.
Speaking to media persons at the Bengaluru Palace Grounds after the curtains were drawn for the mega investment mela along with Deputy Chief Minister D K Shivakumar, the minister basked in the glory that the Invest Karnataka turned
out to be a big success.
Shivakumar and Patil said the total size of the investment attracted by the State could be even more as some of the companies have evinced interest and have promised to get back after finalising their plans. The Memoranda of Understanding (MoUs) for all the investment proposals will be signed after completing all the formalities. They said the projected employment potential of 6 lac will be mainly in the manufacturing and power generation sectors.
The Jindal Group will be investing in energy, cement, steel and other ancillary industries to the tune of Rs 1.2 lac crore, while the Baldota Group will be setting up a steel manufacturing unit at Koppal with an investment of Rs 54,000 crore, Lam Research Company is investing in manufacturing and research to the tune of Rs 10,000 crore.
The Schneider Electric Company is establishing electrical equipment production and research unit at a cost of Rs 2,247 crore, the Volvo company is setting up electric bus and truck manufacturing unit by investing Rs 1,400 crore. The Honda
company is investing Rs 600 crore for electric vehicle manufacturing unit, the minister said.
Karnataka competing for investment globally
Terming the success of Invest Karnataka 2025 as a reflection of State’s strength, Deputy Chief Minister D K Shivakumar said Karnataka is not competing for investment with other states or cities in India but was competing at a global level.
Speaking at the award ceremony of Invest Karnataka at Palace Grounds, he said, “Several investment agreements have been signed over the last four days. The investors can believe in Karnataka, it never fails. You heard Sajjan Jindal and Anand Mahindra singing in praise of the State.
“Investing in Karnataka is in the interest of businesses and the country. We aim to develop not just Bengaluru but other parts of the state as well,” he said pointing out that, ”Our State is taking giant strides in aerospace and other industries.
MSMEs are a big strength for Karnataka.”
“The industries which started during Nehru’s time have grown to become giants today. Large corporations from other countries and India have come to Karnataka reposing faith in our policies and business environment. The new industrial policy encourages investment in other regions of the state as well,” he said.
“Karnataka has announced a new tourism policy under the leadership of H K Patil. The new policy envisages developing 300 km of coastal zone while preserving historic places in the region,” he said.
Shivakumar said, it was late Chief Minister S M Krishna who started the concept of investors meet for the first time in the country. Global investors meet is a formal platform for investors to invest in the state. However, the state is open for business all through the year.
“We are always available to assist and serve you. The team led by Industries Minister M B Patil has done a good job to make this event successful. Congratulations to all those who were involved in the successful completion of Invest Karnataka 2025,” he said.