Karnataka attracts ₹6 lakh crore investment in two years, says Minister M.B. Patil

Bengaluru

Karnataka has attracted a significant ₹6 lakh crore in investments in the large industries sector within the two years since the current government came to power, announced Industries Minister M.B. Patil.

Speaking at Vidhana Soudha during the release of a book detailing the department's two-year achievements, Minister Patil stated that the state has secured ₹6,57,660 crore in investments through 115 Memoranda of Understanding (MoUs), expected to create 232,771 jobs. He further informed that the Single Window Clearance Committee has approved 906 projects, anticipating an investment of ₹1,13,200 crore and the creation of 223,982 jobs.

The Minister highlighted the success of the Global Investors' Meet held in February, where 3,250 entrepreneurs participated, and 1,200 companies expressed interest in investing. Approvals were granted for ₹6,23,845 crore in investments, and agreements worth ₹4,03,533 crore were signed.

Patil also announced the new Industrial Policy 2025-30, which he stated is conducive to industrial development. This policy aims to attract ₹7.50 lakh crore in capital investment and create 20 lakh jobs over the next five years.

In line with environmental sustainability, the Eco-Friendly Energy Policy 2024-29 has been implemented, targeting the creation of 1 lakh new jobs and attracting ₹50,000 crore in investments. The innovative Queen City project is also being implemented, set to span over 2,000 acres with an investment of ₹40,000 crore, projected to generate more than 80,000 jobs.

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Minister Patil revealed that India's first Deep Tech Park is being established in Chikkaballapur, spanning over 3,000 acres. This park will focus on advanced technologies including space technology and drone manufacturing.

He cited several major investments, including Foxconn's ₹22,000 crore investment in Karnataka, Chevron's over ₹8,000 crore, Hero Energies' ₹11,000 crore, Tata Group's ₹3,330 crore, Sansera's ₹2,100 crore, and Jindal's over ₹4,000 crore. Patil emphasized that Karnataka is becoming an MRO (Maintenance, Repair, and Overhaul) hub, with necessary preparations underway.

He also mentioned the restructuring of the Invest Karnataka Forum and the ongoing process of appointing sector-wise industry experts to attract more investments. Additionally, several initiatives have been undertaken by the Karnataka Industrial Areas Development Board (KIADB), including the development of a Drone Park in Chitradurga.