Karnataka gets Rs.9,700 crore investments at 'Make in India' week

Karnataka received Rs.9,700 crore of investment proposals on Wednesday at the week-long 'Make in India' event being held here, an official statement said.

"The investments include Rs.6,000 crore by First Solar for a solar cell unit, Rs.2,284 crore by French firm Tar Kovacs Systems for an ocean-based renewable energy project and Rs.1,250 crore by Pert Telecom to make smart products and solutions for street lighting, IT security, surveillance and global positioning system (GPS)," it said.

Promoting the state for attracting investments at the mega summit, Industry Minister R.V. Deshpande said Karnataka had innovated, invented and invested to lead the future of the country, and noted it haf emerged as one of the most preferred foreign direct investments destinations.

Lauding the central government for organising the mega event to make the country a global hub for manufacturing, state's Additional Chief Secretary Ratna Prabha said the states were not competing but complementing each other to showcase their strengths to attract investments.

"The beauty of India is its unity in diversity. Our new industrial policy (2014-19 encourages the manufacturing sector and drives growth in a sustainable and holistic manner in line with global trends and challenges," said Prabha.

Industrial Development Commissioner Gaurav Gupta made presentations on diverse sectors, including aerospace & defence, automobiles, machine tools to flag the state's strengths as a hub for high value manufacturing.