Over 40 meetings in Davos promise ₹13,000 crore in investments into Karnataka; ‘KWIN City’ in focus

Bengaluru: The World Economic Forum (WEF) summit held in Davos, Switzerland, has emerged as a major springboard for Karnataka to achieve significant gains in investments, expansion and partnerships across sectors such as aerospace, food processing, data centres, digital infrastructure, clean energy and advanced manufacturing, with investment commitments amounting to ₹13,070 crore.

Industries Minister M.B. Patil recently said that more than 45 meetings and consultations held over five consecutive days had successfully drawn global attention to Karnataka as one of the country’s leading destinations in artificial intelligence, Global Capability Centres (GCCs), research and sustainable urban development.

Sharing details after returning from Davos, the Minister elaborated on the success of the visit.

The consultations with industry leaders, he said, have laid a strong foundation for fresh investment inflows into the State and also significantly accelerated projects already under implementation.

Patil said they will help Karnataka strengthen its competitive position in the next phase of global trade and industrial transformation.

Global business leaders have reportedly praised the State’s industry-friendly environment and the availability of skilled human resources, reflecting the foresighted, industry-oriented initiatives being implemented by the government.

The Minister said he had clearly conveyed how Karnataka was emerging as a preferred global destination for investments, industrial establishment and expansion, while explaining the State’s industry-friendly policies and appealing to companies to invest in Karnataka.

The RPS Group will invest ₹10,500 crore over the next three years in Vijayapura and Ballari districts, significantly boosting the renewable energy sector and development in north Karnataka. Global brewing major Carlsberg Group has reiterated its commitment to set up a ₹350 crore bottling plant at Nanjangudu.

Schneider Electric has come forward to invest ₹1,520 crore, including in IT operations.

INOX GFL, which has already invested ₹10,000 crore in the State and commenced turbine blade manufacturing for wind power at Kushtagi, is investing an additional ₹400 crore in manufacturing wind power towers and solar panels.

Belrise Industries is investing ₹300 crore to expand its Mysuru unit, which supplies components to TVS.

Discussions were held with the Singapore Economic Development Board on establishing a ‘Singapore Park’ to attract Singapore-based companies. Efforts were also made to attract a substantial share of Coca-Cola’s proposed ₹25,760 crore investment in India, to Karnataka.

Global majors such as Nokia, US-based Vast Space, UAE-based Crescent Enterprises and Voyager Technologies have shown interest in investing in the State, it was earlier reported.

Bharti Enterprises, which has already invested around ₹13,000 crore in Karnataka, has expressed interest in setting up new data centre, further strengthening digital infrastructure.

Bharat Forge Limited has obtained information on investment opportunities in the State. France-based Mistral AI has expressed interest in establishing a phased research and development centre in Bengaluru.

US-based Philip Morris has indicated its intent to manufacture smoke-free products in Karnataka.

Nokia Corporation has expressed its keenness to establish a Global Capability Centre (GCC) and research centres in the State. In line with the State Government’s priority of developing cities beyond Bengaluru as self-sustaining urban centres, Tech Mahindra has shown interest in expanding operations into Tier-2 cities.

Bharti Enterprises is keen on setting up a data centre, while Sify Technologies has stated that it will launch one soon in the State.

‘KWIN City’ draws attention

Imperial College, one of London’s most prestigious universities, has shared plans to set up a research and development centre in ‘KWIN City’, coming up between Dabbaspet and Doddaballapur.

Global cyber security major Cloudflare is also considering becoming part of the ‘KWIN City’ project.

US-based Voyager Technologies and space technology company Vast Space have expressed interest in entering into partnership agreements with the State government.

UAE-based Crescent Enterprises has come forward to invest in enterprises and companies across the State.

An MoU has been signed to facilitate Swiss companies in leveraging Karnataka’s industry-friendly and innovation-driven ecosystem. Natural Fibre Welding (NFW Earth) has said it would share a detailed expansion proposal with the State government.