Karnataka secures Rs 1.53 lakh crore in fresh investment proposals

Karnataka has attracted new industrial investment proposals worth Rs 1.53 lakh crore in the 11 months following the Global Investors’ Meet (GIM) held in February last year, Minister for Large and Medium Industries M B Patil said on Saturday.

Patil said the investments were over and above the commitments secured during the GIM.

Ahead of his visit to the Davos economic summit as part of a high-level state delegation, he said the government’s investment outreach was a continuous process and not limited to the investors’ meet.

According to Patil, leading companies have shown interest in sectors including manufacturing, renewable energy, data centres and global capability centres (GCCs).

He said the proposals are expected to be submitted to Karnataka Udyog Mitra shortly, after which approvals will be processed expeditiously.

Of the total proposed investments, Rs 66,293 crore is in manufacturing and industry, Rs 20,913 crore in wind and solar power generation, Rs 12,500 crore in GCCs, and Rs 6,350 crore in data centres.

Providing details of key proposals, Patil said Toyota Industries Engine Pvt Ltd will invest Rs 1,330 crore to manufacture gasoline and hybrid engines at its Jigani facility. QpiAI India Pvt Ltd will invest Rs 1,136 crore to establish a Quantum Centre of Excellence in Bengaluru.

AT&S plans to invest Rs 2,850 crore in Nanjangudu for electronic component manufacturing, while Wipro Hydraulics will invest Rs 499 crore to produce copper laminates for the electronics and printed circuit board sectors.

Zenfold Biosciences Pvt Ltd will invest Rs 490 crore to manufacture enzymes for the pharmaceutical sector.

Reliance Consumer Products will invest Rs 1,622 crore to set up a beverage manufacturing facility at Mulawad Industrial Area (Phase-2) in Vijayapura district for the production and bottling of Campa products.

In the aerospace and electronics sector, JJG Aerospace will invest Rs 470 crore at Adinarayanahosahalli in Doddaballapura to manufacture aircraft components, while Yaskawa will invest Rs 330 crore to establish an electronic products manufacturing unit in the same area.

Inox Wind will invest Rs 305 crore to set up a wind turbine manufacturing unit at Kushtagi in Koppala district.

In the technology and data infrastructure segment, SAP will invest Rs 1,960 crore to open its second facility at Devanahalli, Google will invest Rs 2,500 crore in Bengaluru, and NTT Data Centres will invest Rs 4,000 crore to establish data centres at Devanahalli.

Data Samudra (Tele India Data Center) will invest Rs 1,350 crore across Mangaluru, Hubballi-Dharawada and Mysuru.

Haldiram Snacks will invest Rs 444 crore to set up a snacks manufacturing unit at Vasantha Narasapura in Tumakuru district, the minister said.

(With inputs from agencies)