Bengaluru: The four-day Karnataka’s Global Investors’ Meet (GIM) concluded on a high note in Bengaluru, with the Congress-led government claiming it brought in a record Rs 10.27 lakh crore in investments and confirming the creation of 6 lakh jobs.
The announcement was made by the Large and Medium Industries Minister M B Patil on Friday after the conclusion of the event, during a press conference at Palace Grounds, in the presence of Deputy Chief Minister D K Shivakumar.
Minister Patil shared: “Several prestigious companies have shown keen interest in large-scale investments. If these discussions bear fruit, the final investment figure could be even higher,” he said.
He revealed that 75 per cent of the investments would be directed to areas outside Bengaluru, with 45 per cent allocated to North Karnataka.
The new investments are primarily focused on manufacturing and energy sectors. Major contributors include Jindal Group, which is investing Rs 1.2 lakh crore in energy, cement, iron and steel, and related industries. The Baldota Group will invest Rs 54,000 crore in Koppala to set up an iron and steel manufacturing unit. Lam Research is bringing Rs 10,000 crore for manufacturing and research purposes, he stated.
Other prominent investments include Schneider Electric’s Rs 2,247 crore in electrical equipment manufacturing and research, Volvo’s Rs 1,400 crore for electric bus/truck production, Honda’s Rs 600 crore for electric vehicle manufacturing, and Safran’s Rs 225 crore in aerospace production, he said.
Patil also shared that the state’s industrial policy for 2025-30 aims to generate 20 lakh jobs across various sectors.
He outlined plans for new industrial parks in Tumakuru and Vijayapura, a startup park in Hubballi, and deep-tech parks and Swift Cities in other parts of the state. These initiatives are expected to generate investments of Rs 1 lakh crore each, creating 1 lakh jobs per project. The KWIN City development project alone has already seen 10 agreements signed with universities, the minister said.
The ambitious KWIN City project has already garnered significant interest, with 10 agreements inked. Among these is a landmark deal with St. John’s University in New York and the University of Liverpool, Patil confirmed.
Vijayapura district has secured Rs 42,000 crore in investments, with more agreements expected. Minister Patil said that North Karnataka will see continued investment opportunities in the coming days.
Bengaluru’s infrastructure has been under immense pressure with its population of 1.4 crore and over 1.1 lakh registered vehicles. To tackle this, industries are being encouraged to establish themselves outside Bengaluru, with special incentives provided for such initiatives.
Deputy Chief Minister D K Shivakumar revealed that the state has introduced a new tourism policy, focusing especially on the 300 km coastal region to boost tourism development.
“With rising land prices in the state, we are considering alternative support mechanisms for entrepreneurs,” Shivakumar stated.
He emphasised that Karnataka is now competing globally for investments, contributing to the increase in land prices. “The cost of land in the state is high, which is why we are exploring various ways to support entrepreneurs,” he added.
(IANS)
