New investment proposals worth ₹1.53 lakh crore attracted: Karnataka Industries Minister

Bengaluru: In the 11 months following the Global Investors’ Meet (GIM) held in February last year, the State has attracted several new industrial proposals involving investments totalling ₹1.53 lakh crore, Minister for Large and Medium Industries M.B. Patil said on Saturday.

These investments are in addition to the commitments secured during the GIM.

Ahead of his visit to the Davos economic summit, where he will be part of a high-level State government delegation, the Minister shared these details and figures. He emphasised that the State’s efforts to attract investments were continuous in nature and not limited to the Global Investors’ Meet alone.

Speaking about the proposals, he said several leading companies had expressed interest in investing across key sectors such as manufacturing, renewable energy, data centres and Global Capability Centres (GCCs).

These proposals were expected to be submitted to Karnataka Udyog Mitra in the coming days, after which the subsequent approval processes would be taken up expeditiously, he added.

Of the new investments attracted, ₹66,293 crore pertains to the manufacturing and industrial sector, ₹20,913 crore to wind and solar power generation, ₹12,500 crore to the establishment of GCCs, and ₹6,350 crore to the setting up of 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. QpiAI India Pvt. Ltd. will invest ₹1,136 crore to establish a Quantum Centre of Excellence in Bengaluru. AT&S will invest ₹2,850 crore in Nanjangudu for the manufacture of electronic components, Wipro Hydraulics will invest ₹499 crore to produce copper laminates required for the electronics and PCB sectors, while Zenfold Biosciences Pvt. Ltd. will invest ₹490 crore to manufacture enzymes used in 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 production and bottling of Campa products , and JJG Aerospace will invest ₹470 crore at Adinarayanahosahalli in Doddaballapura for manufacturing aircraft components.

Yaskawa will invest ₹330 crore to set up an electronic products manufacturing unit in the same industrial area, while Inox Wind will invest ₹305 crore to establish a wind turbine manufacturing unit at Kushtagi in Koppala district.

SAP will invest ₹1,960 crore to open its second facility at Devanahalli, Google will invest ₹2,500 crore in Bengaluru, while NTT (Data Centres) will invest ₹4,000 crore to establish data centres at Devanahalli.

Data Samudra (Tele India Data Center) will invest ₹1,350 crore across Mangaluru, Hubballi-Dharwad and Mysuru, and Haldiram Snacks will invest ₹444 crore to set up a snacks manufacturing unit at Vasantha Narasapura in Tumakuru district, the Minister said.