K'taka bags ₹1.53 trillion in new investment proposals since GIM: Minister

Karnataka has attracted new industrial investment proposals worth ₹1.53 trillion 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.

The investments are 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, Patil said the government's investment outreach was a continuous process and not limited to the investors' meet.

He said leading companies had shown interest in sectors, including manufacturing, renewable energy, data centres and global capability centres (GCCs).

 

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

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

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

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

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

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

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

Inox Wind will invest ₹305 crore to establish a wind turbine manufacturing unit at Kushtagi in Koppala district.

In the technology and data infrastructure space, SAP will invest ₹1,960 crore to open its second facility at Devanahalli, Google will invest ₹2,500 crore in Bengaluru, and NTT data centres will invest ₹4,000 crore to set up data centres at Devanahalli.

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

Haldiram Snacks will invest ₹444 crore to establish a snacks manufacturing unit at Vasantha Narasapura in Tumakuru district, the minister added.