InoxWind to pump Rs 400 crore into Karnataka's Koppal: Minister Patil
Bengaluru (PTI): Karnataka Minister M B Patil on Wednesday announced that InoxWind, a manufacturer of large blades and towers for the wind energy sector, will set up a new facility in Koppal district with an investment of Rs 400 crore, creating around 1,000 direct jobs.
He said the facility will be located in the Kyadigoppa Industrial Area of Koppal district.
Patil made the announcement following a meeting with Santosh Khairnar, President (Corporate Strategies) of InoxWind, to discuss the company’s expansion plans.
“The company’s Executive Director, Devansh Jain, had written to me requesting the allocation of 70 acres of land adjacent to the National Highway. He explained that setting up the unit in an area without wide, good-quality roads would not be viable for transporting massive blades and towers,” Patil said in a statement issued by his office.
Initially, the company had shown interest in establishing the plant in the Vijayapura district. However, due to the lack of an industrial area adjacent to the National Highway, suitable land could not be identified, he added.
Consequently, land under the Karnataka Industrial Areas Development Board (KIADB) has been allocated for the project in Kushtagi taluk of Koppal district, Patil said.
Of the total Rs 400 crore investment, Rs 300 crore will be spent in the first phase and Rs 100 crore in the second phase, he added.
The minister assured that the state government would extend full support and provide incentives to InoxWind under the new Industrial Policy. The proposed facility will manufacture wind turbine towers, including their massive blades and pillars.
Patil also expressed confidence that the project would play a significant role in addressing regional imbalances in industrial development across the state, the statement added.
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Sitharaman highlights India's expanding trade architecture in meeting with Norwegian CEOs
New Delhi/Oslo (PTI): Finance Minister Nirmala Sitharaman on Wednesday highlighted India's expanding trade architecture and said the country provides a durable framework for trade, industrial collaboration and long-term investments.
In a roundtable meeting with prominent Norwegian CEOs and investors in Oslo, Sitharaman said her official visit to Norway has witnessed engaging and positive discussions on India as an investment destination and the fastest-growing major economy in the world.
"In the light of India's expanding trade architecture, including agreements with European Free Trade Association (EFTA), the EU, the UK and the US, the Union Finance Minister highlighted the conditions in India that provide a durable framework for trade, industrial collaboration and long-term investments,” the Union Finance Ministry said in a X post.
She said that Union Budget 2026-27 also underpins the reform focus of the Government of India on easing regulatory and compliance burden for citizens and companies.
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The participants appreciated the predictable policy and macroeconomic environment in India and acknowledged the reform efforts and momentum by the government, the Ministry said.
The CEO of National Investment and Infrastructure Fund (NIIF) made a presentation highlighting India's growth and reform story and the potential and scope of investment opportunities between the two countries across key sectors.
The roundtable covered deliberations around the existing and potential opportunities for business and investment cooperation across key sectors, including renewables, carbon capture, rare earths, and financial services.
Separately, Sitharaman met Norway Prime Minister Jonas Gahr Store, who said that the country is looking forward to the visit of Prime Minister Narendra Modi scheduled for later in the year and conveyed his confidence that it would further expand India-Norway cooperation.
Store appreciated India's reform momentum and said that Norway and India can collaborate in the sectors of fisheries, health tech, maritime and space.
The two leaders discussed EFTA and TEPA operationalisation and outlined key areas of collaboration between the two countries, including in areas related to high-tech manufacturing, carbon capture storage, start-ups, semiconductors, renewable energy, and waste management, among others.
India-EFTA Trade and Economic Partnership Agreement (TEPA) came into effect on October 1, 2025, while India and the U.K., in July 2025, signed the Comprehensive Economic and Trade Agreement (CETA).
In January this year, India and the EU concluded negotiations for a historic free trade agreement (FTA). Earlier this month, India and the US agreed to an interim trade deal.
Sitharaman also met Norway's Minister for Trade & Industry, Cecilie Mysreth and Even Tronstad Sagebakken, State Secretary, Fisheries and Ocean Policy, in Oslo.
The leaders discussed ways of forging deeper cooperation and exploring mutual opportunities in the areas of green tech, rare earth processing, maritime and shipping industries, and fisheries, among others, especially in the context of the India-EFTA TEPA deal.
Sitharaman said the effective operationalisation of TEPA will foster mutual benefits for both sides and that she looked forward to the timely operationalisation of the same, the Finance Ministry said.
