Karnataka receives Rs 10.26 lakh cr in investment proposals: Minister MB Patil
Bengaluru, Feb 14 (PTI): Karnataka Medium and Large Industries Minister M B Patil on Friday said the state received investment proposals worth Rs 10,26 lakh crore at the Global Investors' Meet, which will create six lakh jobs.
Addressing reporters after the valedictory session of the Invest Karnataka-2025 summit, Patil said 75 per cent of the investments would be made outside Bengaluru.
"We have received investment proposals of Rs 10,27,378 crore, which will create six lakh jobs. Of this, 75 per cent pertains to ‘Beyond Bengaluru.’ I am happy to share that 45 per cent of these investments will be made in North Karnataka," Patil said.
The minister said he and his department had been preparing for this event for the past six months.
As part of this effort, he toured various countries to attract investors to Karnataka. Roadshows were also conducted across India, he added.
According to Patil, the highest investments came in the renewable energy sector, with proposals worth Rs 4.26 lakh crore.
He said the manufacturing and sunrise sectors, such as aerospace, defence, automobiles, electric vehicles, Electronic System Design and Manufacturing (ESDM) and Research and Development (R&D) would receive Rs 1.38 lakh crore in investments.
General manufacturing, including food and agriculture, textiles, pharmaceuticals, machinery tools and Fast-Moving Consumer Goods (FMCG) is set to receive investments worth Rs 1.05 lakh crore.
In the core manufacturing sector, including steel and cement, the state received proposals worth Rs 1.60 lakh crore.
For infrastructure and industrial logistics, including city gas distribution, telecom, airports, and other infrastructure projects, the state received investment proposals totalling Rs 1.08 lakh crore.
The minister emphasised that the Global Investors’ Meet should not be limited to signing Memoranda of Understanding (MoUs). "The investments will continue even after the GIM. We did not sign all the MoUs blindly this time. We conducted screenings to check their reliability. This time, we insisted on greenfield projects rather than brownfield, which means expansion. We now have 70 per cent greenfield projects," Patil said.
According to the minister, some of the key investments include Rs 1.2 lakh crore by the JSW Group in renewable energy, cement, steel and affiliated businesses.
Baldota Steel and Power Limited has agreed to invest Rs 54,000 crore in an integrated steel plant, while Lam Research will establish a Rs 10,000 crore semiconductor equipment manufacturing and R&D facility.
Volvo will set up a Rs 1,400 crore unit to manufacture EV trucks.
Samvardhana Motherson has proposed investing Rs 3,700 crore in manufacturing, engineering, and assembly facilities.
Emmvee Energy Private Limited will invest Rs 15,000 crore in manufacturing solar photovoltaic cells and modules in the state, while RSOLEC will set up a solar ingot wafer manufacturing unit with an investment of Rs 5,000 crore.
Mahindra Susten will invest Rs 36,000 crore in renewable energy projects and tourism, while Hero Future Energies will invest Rs 22,200 crore in renewable energy, green hydrogen and its derivatives.
Epsilon Group will invest Rs 15,350 crore in manufacturing anode and cathode materials, Shree Cement Limited will establish an Rs 8,350 crore integrated plant and clinker grinding unit, and Schneider Electric will invest Rs 2,247 crore in manufacturing electrical products and R&D activities.
Havells has signed an MoU to expand its existing manufacturing facility in Tumakuru and set up a new R&D facility in Bengaluru at an investment of Rs 710 crore.
Suzlon Energy has agreed to invest Rs 21,950 crore in wind power projects and wind turbine generator manufacturing facilities, while ESR Advisers will develop an industrial park and data centre with an investment of Rs 2,500 crore.
TVS Motor will establish a state-of-the-art R&D facility with an investment of Rs 2,000 crore.
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RCB beat MI by 18 runs after batters fire
Mumbai (PTI): Royal Challengers Bengaluru skipper Rajat Patidar, Phil Salt and Virat Kohli blasted half-centuries as the defending champions beat Mumbai Indians by 18 runs in an Indian Premier League match here on Sunday.
Salt (78 off 36 balls) and Kohli (50 off 38 balls) stitched together a 120-run stand for the opening wicket before Patidar scored a rapid 53 off just 20 balls as RCB posted 240 for 4.
In response, Mumbai Indians were restricted to 222 for 5, with RCB spinner Suyash Sharma (2/47) putting the skids on the home side with a double strike in the eighth over, from which they could not recover.
Sherfane Rutherford top-scored for MI with an unbeaten 71 off 31 balls.
While opener Rohit Sharma appeared to be struggling with a hamstring issue and had to retire hurt on 19, his partner Ryan Rickelton made 37, while Suryakumar Yadav (33) and Hardik Pandya (40) were the other contributors for MI.
Brief scores:
Royal Challengers Bengaluru 240 for 4 in 20 overs (Phil Salt 78, Virat Kohli 50, Rajat Patidar 53, Tim David 35 not out).
Mumbai Indians: 222 for 5 in 20 overs (Sherfane Rutherford 71 not out, Ryan Rickelton 37, Hardik Pandya 40; Suyash Sharma 2/47).
