Karnataka gears up for Global Investment Meet

Bengaluru

Karnataka is set to attract investments of about Rs 10 lakh crore at the upcoming Global Investors Meet in Bengaluru. The event, scheduled from February 11 to 14, will spotlight the state's industrial potential and its role as a prime investment hub.

M B Patil, Karnataka’s Minister for Large and Medium Scale Industries, expressed high expectations for the meet, stating, "We are expecting around Rs 10 lakh crore in investments, with at least 70 per cent converting into reality and not just remaining on paper." The summit, themed ‘Re-Imagining Growth,’ will focus on tech-driven, green, and resilient growth in challenging times.

Patil highlighted the significance of transitioning to electric vehicles (EVs) and green hydrogen, stating, "Diesel, petrol, and all fossil fuels will be phased out. We have a very strong system, which has to be resilient to all these changes."

The inaugural session on February 10 will see the presence of Karnataka's Governor, Chief Minister Siddaramaiah, and Union Defence Minister Rajnath Singh. The summit will feature business sessions, including a semiconductor summit, and a recognition award function on February 12. It will conclude on February 14 with awards for key ventures.

Patil emphasized that Karnataka remains a leader in sectors like IT, biotechnology, aerospace, and defense. "We aim to continue leading in India and compete globally," he added. The state is also unveiling an industrial policy with flexible incentives and a new single-window portal developed by Microsoft to streamline approvals.