Investments totalling ₹4.71 lakh crore realised in 11 months: Karnataka Industries Minister

Bengaluru: Investment proposals worth ₹4.71 lakh crore have been realised by the end of December out of the ₹10.27 lakh crore commitments secured at the Global Investors’ Meet held in February 2025, Minister for Large and Medium Industries M.B. Patil recently said.

Ahead of his visit to the World Economic Forum (WEF) scheduled in Davos from January 19 to 23, the Minister has shared details of the State’s investment progress, applications received and sector-wise industrial growth over the past year.

Providing a detailed overview, he said that 46 per cent of the investment agreements (MoUs) signed at the GIM have already translated into actual investments.

Of the ₹5.66 lakh crore investment commitments in the manufacturing sector, ₹3.22 lakh crore has materialised. Similarly, in the renewable energy sector, ₹1.41 lakh crore has flowed in against commitments of ₹4.25 lakh crore, while the infrastructure development sector has recorded actual investments of ₹0.085 lakh crore against commitments of ₹0.45 lakh crore.

This represents success rates of 58 per cent, 33 per cent and 19 per cent respectively, he said.

“We have not stopped at the MoU stage alone,” the Minister said. Once investment proposals are submitted, processes such as application handling, land allotment, statutory clearances and approvals are being facilitated through a fully digital single-window system. Under this mechanism, more than 150 services across over 30 departments have been integrated. As a result, sectors such as manufacturing, ESDM, semiconductors and food processing are witnessing a steady flow of investments,” he explained.

Over the past year, investment proposals in the State have been materialised at a faster pace, reflecting the creation of a more industry-friendly ecosystem than earlier, he said.

Nearly 50 per cent of all investment proposals and about 60 per cent of proposals in the manufacturing sector had been submitted through ‘Karnataka Udyog Mitra’.

“These outcomes reflect the success of the State’s structured industrial policy and reform-oriented initiatives We are ensuring that no project remains confined to the MoU stage, but is taken to its logical conclusion,” Patil said.

Details of investment proposals

In the manufacturing sector, Silfex has proposed an investment of ₹9,300 crore to set up a facility for manufacturing silicon components critical to the semiconductor industry.

MV Energy has proposed an investment of ₹5,495 crore to expand solar cell and module manufacturing at the ITIR area in Bengaluru.

Jindal Steel has proposed an investment of ₹7,000 crore to establish an electrical steel manufacturing unit at Vijayanagar, the Minister informed.

Additionally, UltraTech Cement has proposed an investment of ₹4,819 crore to set up a cement manufacturing unit in Kalaburagi district.

Dalmia Cement has proposed investments of ₹3,000 crore, along with an additional ₹3,020 crore for expansion, at Yadawada in Belagavi district.

In the renewable energy sector, Tata Power has proposed investments of ₹8,134 crore. Volvo has proposed ₹1,251 crore for the expansion of its Hosakote facility, while Suzlon Energy Limited has proposed investments of ₹12,032 crore in Vijayapura district.

Havells India has proposed an investment of ₹710 crore in Tumakuru district to expand its manufacturing capacity and establish a new research and development centre.

Balaji Wafers (₹550 crore) and ASM Technologies (₹490 crore) have also submitted investment proposals through Karnataka Udyog Mitra, he said.

In the medical and sanitary equipment sector, TZMO India has proposed an investment of ₹58 crore. TASL has proposed an investment of ₹500 crore at Vemagal in Kolar district for manufacturing components required for the Airbus H125 model.

Safran Electronics has proposed an investment of ₹250 crore for the manufacture of avionics and defence equipment, the Minister added.