STATES
Invest Karnataka Summit concludes with Rs 10.27 lakh crore of investment proposals
- IBJ Bureau
- Feb 15, 2025
Karnataka has received proposals worth Rs 10.27 lakh crore in investments during the three-day Invest Karnataka Summit, which concluded in Bengaluru on Friday.
Speaking to reporters, Karnataka Minister of Large and Medium Scale Industries M B Patil said: “The total investments committed to Karnataka as part of GIM (Global Investors’ Meet) is Rs 10.27 lakh crore, with an employment generation potential of over 6 lakh. More than 45 per cent of investments are in North Karnataka. We aim to realise at least 70 per cent of total investments over the next two years.”
“Of the total of Rs 10.27 lakh crore, Rs 4.03 lakh crore comprises investment commitments that have been recognised or announced, while Rs 6.23 lakh crore are based on MoUs signed,” Mr Patil added.
Mr Patil also said that 70 per cent of the investment commitments are in beyond-Bengaluru clusters. “Even more encouraging is that nearly 75 per cent of these investments are outside Bengaluru district, with over 45 per cent concentrated in North Karnataka. This aligns with our vision for balanced regional growth.”
According to the Industries Department, major share is contributed by renewable energy (41 per cent of total investments), followed by manufacturing – core (15 per cent), sunrise sectors (14 per cent), infrastructure and industrial/ logistics parks (11 per cent), general manufacturing (10 per cent) and startup capital (9 per cent).
Some of the world’s and India’s big industrial houses, such as JSW Group (Rs 1.2 lakh crore), Baldota Steel & Power (Rs 54,000 crore), Volvo (Rs 1,400 crore), Samvardhana Motherson (Rs 3,700 crore), TVS Motor Company (Rs 2,000 crore) and Shree Cement (Rs 8,350 crore), among others have committed huge investments in the State.
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