Bengaluru: The RPSG Group, a major player in the renewable energy sector, will invest ₹10,500 crore over the next three years in Vijayapura and Ballari districts, Large and Medium Industries Minister M.B. Patil recently said.
He assured that the State government would extend all necessary support to facilitate these investments.
The Minister shared this information while participating in the World Economic Forum meeting in Davos.
Similarly, the InoxGFL Group, which has already commenced turbine blade manufacturing for the wind energy sector at Kustagi, is planning to set up a facility to manufacture large wind power towers at a nearby location in the coming days.
The company has already invested ₹10,000 crore in Karnataka, he said.
The Ramky Group, which specialises in waste management, has expressed interest in setting up Common Effluent Treatment Plants (CETPs) in KIADB industrial areas across the State.
Discussions have also been held with the group on establishing a Pharma Park in Karnataka. Tech Mahindra Limited, meanwhile, has shown interest in making industrial investments in Tier-2 cities of the State, he added.
The State is keen on attracting greater investments from Singapore-based companies. In this regard, discussions were held with representatives of the Singapore Economic Development Board (EDB), functioning under Singapore’s Ministry of Trade and Industry, on the establishment of a ‘Singapore Park’ in Karnataka.
There are significant opportunities for collaboration with Singapore in sectors such as semiconductors, biotechnology and aerospace, Patil said.
Lenovo, a leading manufacturer of personal computers, laptops, tablets and smartphones, has held discussions on partnering with local suppliers and entrepreneurs.
Axon Cables, which operates in the defence sector, has decided to expand its manufacturing footprint in India and has been invited to consider investing in Karnataka, the Minister said in a statement.
To ensure that Karnataka remains competitive and does not lag behind in the next phase of global trade and industrial transformation, the State delegation held detailed discussions with Nicholas Lang, Managing Director of Boston Consulting Group (BCG), on future strategies related to tariffs, artificial intelligence and emerging technologies.
In line with the State government’s priority of promoting cities beyond Bengaluru as self-sustaining urban centres, Tech Mahindra Limited has expressed interest in expanding its presence in Tier-2 cities across Karnataka.
Schneider Electric has announced plans to establish 20 additional training infrastructure facilities in the State, with a long-term objective of expanding the network to 100 skill development centres, Patil said.
He added that discussions on further investments were also held with the Jubilant Bhartia Group and several other companies.
MoU with Swiss Chambers India
With a view to strengthening industrial ties between Karnataka and Swiss companies, the State government signed a Memorandum of Understanding with Swiss Chambers India at the summit.
Swiss Chambers India head Satish Rao and the CEOs of six Swiss companies were present on the occasion, Patil said.
Nokia GCCs across State likely
Nokia Corporation, one of the world’s leading players in the telecommunications technology sector, has expressed its interest in establishing a Global Capability Centre (GCC) and research centres in Karnataka.
Nokia, which has enjoyed a long-standing association with the State for over 25 years and operates its largest global research centre in Bengaluru, has held discussions on expanding its operations across Karnataka, including in Tier-2 cities.
During meetings with senior Nokia officials at the ongoing World Economic Forum summit in Davos, the State government assured full support for the company’s future expansion plans, Patil said.
The Minister also reiterated the State government’s commitment to supporting the World Economic Forum’s ‘Yes–BLR UpLink’ initiative, which seeks to develop the ‘Yes Bengaluru’ programme on sustainable urban development into a globally recognised platform for government–industry collaboration.
He said the matter was discussed in detail during a meeting with John Dutton, Head of UpLink, at the World Economic Forum. The initiative provides financial assistance, mentorship and pilot opportunities to start-ups working on real-world, city-centric challenges and contributing to urban development.
The WEF UpLink delegation has appreciated the Karnataka government’s continued support for the initiative, he added.
Discussions were also held with global cyber security major Cloudflare on joining the ‘KWIN City’ project and on future expansion opportunities. The State government assured necessary support for the company’s expansion plans.
Cloudflare’s Global Strategy Head, Stephanie Cohen, described Karnataka as one of the world’s best destinations for attracting advanced technologies, the Minister said.
Vast Space keen on partnership
US-based space technology company Vast Space has expressed interest in partnering with the Karnataka government in areas related to space technology, advanced manufacturing and innovation-driven initiatives.
Crescent Enterprises, a UAE-based multinational business group, has also expressed interest in investing in enterprises and companies across the State.
US-based aerospace company Voyager Technologies has expressed strong interest in entering into a partnership agreement with the State government. The company has also come forward to collaborate with ISRO on space technology and research initiatives. During a meeting with Executive Vice-President John Baum, possibilities for expanding operations in the State’s biopharma sector were discussed, the Minister said.
