Karnataka secured new investment proposals worth Rs 1.53 lakh cr post GIM: Minister Patil

Bengaluru, Jan 17 (PTI) In the 11 months following the Global Investors’ Meet (GIM) held in February last year, Karnataka has attracted several new industrial proposals totalling Rs 1.53 lakh crore, state Minister for Large and Medium Industries M B Patil said on Saturday.

These investments are in addition to the commitments secured during the GIM, he said.

Ahead of his visit to the World Economic Forum in Davos, where he will be part of a high-level state government delegation, the Minister shared these details and figures.

He emphasised that the state’s efforts to attract investments are continuous in nature and not limited to the Global Investors’ Meet alone, the Minister's office quoted him as saying in the release.

On the proposals, he said several leading companies have evinced interest in investing across key sectors such as manufacturing, renewable energy, data centres and Global Capability Centres (GCCs).

These proposals are expected to be submitted to Karnataka Udyog Mitra in the coming days, after which the subsequent approval processes will be taken up expeditiously, he added.

Of the new investments attracted, Rs 66,293 crore pertains to the manufacturing and industrial sector, Rs 20,913 crore to wind and solar power generation, Rs 12,500 crore to the establishment of GCCs, and Rs 6,350 crore to the setting up of data centres, he said.

Providing a breakdown of the investments, Patil noted that Toyota Industries Engine Pvt. Ltd is set to invest Rs 1,330 crore to manufacture gasoline and hybrid engines at its Jigani facility, while QpiAI India Pvt. Ltd is investing Rs 1,136 crore to establish a Quantum Centre of Excellence in Bengaluru. AT&S has committed Rs 2,850 crore for its Nanjangudu unit for manufacturing electronic components.

Wipro Hydraulics will invest Rs 499 crore to produce copper laminates required for the electronics and PCB sectors, while Zenfold Biosciences Pvt. Ltd. will inject Rs 490 crore into the production of enzymes used in the pharmaceutical sector. Reliance Consumer Products will establish a Rs 1,622-crore beverage manufacturing facility at Mulawad Industrial Area (Phase-2) in Vijayapura district for production and bottling of Campa products, he added.

In addition, JJG Aerospace will invest Rs 470 crore at Adinarayanahosahalli in Doddaballapura for manufacturing aircraft components. Yaskawa is investing Rs 330 crore to set up an electronic products manufacturing unit in the same industrial area. Inox Wind will invest Rs 305 crore to establish a wind turbine manufacturing unit at Kushtagi in Koppala district. SAP will invest Rs 1,960 crore to open its second facility at Devanahalli and Google will invest Rs 2,500 crore in Bengaluru.

PTI KSU ROH