Davos summit boosts Karnataka investment pipeline with Rs 13,070 cr in commitments
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Bengaluru (PTI): The World Economic Forum (WEF) annual meeting in Davos has emerged as a catalyst for Karnataka's economic growth, with the state securing investment commitments worth Rs 13,070 crore across sectors including renewable energy, aerospace, data centres, food processing and advanced manufacturing, Industries Minister M B Patil said.
Addressing the media after returning from the summit, Patil said more than 45 meetings and consultations held over five days helped position Karnataka as a preferred global destination for artificial intelligence, Global Capability Centres (GCCs), research and sustainable urban development.
The discussions at Davos have not only laid the foundation for fresh investment inflows but have also accelerated projects already under implementation, the minister said, adding that global companies had praised Karnataka's industry-friendly policies and availability of skilled manpower.
A significant portion of the commitments came from the RP-Sanjiv Goenka Group, which plans to invest Rs 10,500 crore over the next three years in Vijayapura and Ballari districts, providing a major boost to renewable energy development in north Karnataka.
Global brewer Carlsberg Group reiterated its plan to set up a Rs 350 crore bottling plant at Nanjangudu, while Schneider Electric proposed investments of Rs 1,520 crore, including in IT operations. INOX GFL, which has already invested Rs 10,000 crore in the state and commenced turbine blade manufacturing at Kushtagi, will invest an additional Rs 400 crore to manufacture wind power towers and solar panels.
Belrise Industries plans to invest Rs 300 crore to expand its Mysuru facility, which supplies components to TVS Motor Co.
Patil said discussions were held with the Singapore Economic Development Board on setting up a 'Singapore Park' in Karnataka to attract Singapore-based companies. The state is also seeking to attract a significant share of Coca-Cola's proposed Rs 25,760 crore investment in India.
Several global companies expressed interest in expanding operations in Karnataka. Nokia, US-based Vast Space, UAE-based Crescent Enterprises and Voyager Technologies indicated interest in investing in the state, while Bharti Enterprises said it was keen on setting up a new data centre, adding to its existing investments of around Rs 13,000 crore.
France-based Mistral AI expressed interest in establishing a phased research and development centre in Bengaluru, while US-based Philip Morris indicated its intent to manufacture smoke-free products in Karnataka.
Bharat Forge Ltd sought details on investment opportunities, the minister said.
Nokia has shown interest in establishing a Global Capability Centre and research facilities in the state. In line with the government's focus on developing self-sustaining urban centres beyond Bengaluru, Tech Mahindra expressed interest in expanding operations into Tier-2 cities. Sify Technologies said it would soon launch a data centre in Karnataka.
The state's flagship 'KWIN City' project, planned between Dabaspet and Doddaballapur, also drew strong interest. Imperial College London has proposed setting up a research and development centre in the city, while global cybersecurity firm Cloudflare is considering becoming part of the project.
US-based Voyager Technologies and space company Vast Space have expressed interest in partnership agreements with the state government, while UAE-based Crescent Enterprises is exploring investments across multiple sectors in Karnataka. An MoU was signed at Davos to facilitate Swiss companies seeking to leverage the state's innovation-driven ecosystem.
Patil said the engagements at Davos would help Karnataka strengthen its competitive position amid global industrial transformation and deepen bilateral trade ties with key economies.
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Texas halts H-1B visas at state universities, agencies; to affect Indians
Houston (US) (PTI): Texas Governor Greg Abbott has ordered state agencies and public universities to immediately halt new H-1B visa petitions, tightening hiring rules at taxpayer-funded institutions, a step likely to impact Indian professionals.
The freeze will remain in effect through May 2027.
The directive issued on Tuesday said that the state agencies and public universities must stop filing new petitions unless they receive written approval from the Texas Workforce Commission.
The governor's order, in a red state that is home to thousands of H-1B visa holders, comes as the Trump administration has initiated steps to reshape the visa programme.
“In light of recent reports of abuse in the federal H-1B visa programme, and amid the federal government’s ongoing review of that programme to ensure American jobs are going to American workers, I am directing all state agencies to immediately freeze new H-1B visa petitions as outlined in this letter,” Abbot said.
Institutions must also report on H-1B usage, including numbers, job roles, countries of origin, and visa expiry dates, the letter said.
US President Donald Trump on September 19 last year signed a proclamation ‘Restriction on entry of certain non-immigrant workers’ that restricted the entry into the US of those workers whose H-1B petitions are not accompanied or supplemented by a payment of USD 1,00,000.
The H1-B visa fee of USD 1,00,000 would be applicable only to new applicants, i.e. all new H-1B visa petitions submitted after September 21, including those for the FY2026 lottery.
Indians make up an estimated 71 per cent of all approved H-1B applications in recent years, according to US Citizenship and Immigration Services (USCIS), with China in the second spot. The major fields include technology, engineering, medicine, and research.
Tata Consultancy Services (TCS) is the second-highest beneficiary with 5,505 approved H-1B visas in 2025, after Amazon (10,044 workers on H-1B visas), according to the USCIS. Other top beneficiaries include Microsoft (5,189), Meta (5,123), Apple (4,202), Google (4,181), Deloitte (2,353), Infosys (2,004), Wipro (1,523) and Tech Mahindra Americas (951).
Texas public universities employ hundreds of foreign faculty and researchers, many from India, across engineering, healthcare, and technology fields.
Date from Open Doors -- a comprehensive information resource on international students and scholars studying or teaching at higher education institutions in the US -- for 2022-2023 showed 2,70,000 students from India embarked on graduate and undergraduate degrees in US universities, accounting for 25 per cent of the international student population in the US and 1.5 per cent of the total student population.
Indian students infuse roughly USD 10 billion annually into universities and related businesses across the country through tuition and other expenses – while also creating around 93,000 jobs, according to the Open Doors data.
Analysts warn the freeze could slow recruitment of highly skilled professionals, affecting academic research and innovation.
Supporters say the directive protects local jobs, while critics caution it could weaken Texas’ competitiveness in higher education and research.
The order comes amid broader debate in the US over skilled immigration and state-level interventions in federal programmes.
H-1B visas allow US companies to hire technically-skilled professionals that are not easily available in America. Initially granted for three years, these can be extended for another three years.
In September 2025, Trump had also signed an executive order ‘The Gold Card’, aimed at setting up a new visa pathway for those committed to supporting the United States; with individuals who can pay USD 1 million to the US Treasury, or USD 2 million if a corporation is sponsoring them, to get access to expedited visa treatment and a path to a Green Card.
