Karnataka seeks major investments in renewable energy, industrial development at Davos

Bengaluru, Jan 22 (PTI) The RPSG Group, a major player in the renewable energy sector, will invest Rs 10,500 crore over the next three years in Vijayapura and Ballari districts, Minister M B Patil said on Thursday.

The Large and Medium Industries minister assured that the state government would provide all necessary support to facilitate these investments.

Patil shared the update while participating in the World Economic Forum (WEF) meeting in Davos, according to a statement from his office.

He added that the InoxGFL Group, which has already started manufacturing turbine blades for the wind energy sector at Kustagi, plans to set up a facility to produce large wind power towers at a nearby location in the coming days.

The company has already invested Rs 10,000 crore in Karnataka.

The Ramky Group, a specialist in waste management, has expressed interest in establishing Common Effluent Treatment Plants (CETPs) in KIADB industrial areas across the State.

Discussions have also been held with the group on setting up a Pharma Park in Karnataka.

Tech Mahindra Limited has shown interest in making industrial investments in the tier-2 cities of the state, he added.

Highlighting Karnataka’s focus on attracting Singapore-based investments, Patil said discussions were held with representatives of the Singapore Economic Development Board (EDB) on establishing a Singapore Park in the State.

He noted "significant opportunities for collaboration with Singapore in sectors such as semiconductors, biotechnology, and aerospace." Lenovo, a leading manufacturer of personal computers, laptops, tablets, and smartphones, has held discussions on partnering with local suppliers and entrepreneurs.

Meanwhile, Axon Cables, a defence sector player, has decided to expand its manufacturing footprint in India and has been invited to consider investing in Karnataka.

To ensure Karnataka remains competitive in the next phase of global trade and industrial transformation, the state delegation held detailed discussions with Nicholas Lang, Managing Director of Boston Consulting Group (BCG), on strategies related to tariffs, artificial intelligence, and emerging technologies.

Several industry groups also praised the State Government for supporting the time-bound implementation of projects.

In line with the state government’s aim to promote cities beyond Bengaluru as self-sustaining urban centres, Tech Mahindra has expressed interest in expanding its presence in tier-2 cities across Karnataka.

Schneider Electric announced plans to establish 20 additional training infrastructure facilities in the state, with a long-term objective of expanding the network to 100 skill development centres.

Patil said discussions on further investments were also held with Jubilant Bhartia Group and several other companies.

To strengthen industrial ties between Karnataka and Swiss companies, the state government signed a memorandum of understanding with the Swiss Chambers India at the summit, he said.

Swiss Chambers India head Satish Rao and CEOs of six Swiss companies were present at the occasion. PTI KSU SSK