Karnataka clears investments from Toyota, Mahindra, and others worth ₹29,679 crore, will create over 66,000 jobs

Karnataka has approved investment projects with the potential to create more than 66,000 jobs. The High-Level Clearance Committee, chaired by Karnataka Chief Minister D K Shivakumar, approved nine new projects and eight additional investment proposals worth ₹29,679 crore, an official release by the CMO said.

The projects cleared at the 68th SHLCC meeting include a ₹2,194.94 crore investment by Vibrancy Renewable Energies to develop IT & ITES office space in Bengaluru, which could create up to 30,000 jobs.

Major investments cleared by Karnataka govt

Mahindra Aerostructures will invest ₹2,300 crore and create 3,000 jobs; Aequs Consumer Products will invest ₹1,104 crore and create 4,813 jobs; and Hero Future Energies will invest ₹9,760 crore and create 3,200 jobs.

Epsilon will invest ₹1,500 crore, Toyota Kirloskar ₹1,200 crore, Nirani Sugars ₹4,062 crore, TruAlt Bioenergy ₹2,988 crore and Lighthouse Alternative Assets ₹600 crore, the CMO statement noted.

While Mahindra Aerostructures will invest ₹2,300 crore to establish a facility for manufacturing aerospace parts and assemblies in Kolar, Aequs Consumer Products will invest ₹1,104 crore to expand manufacturing of components and assemblies for the electronics sector in Dharwad.

Toyota Kirloskar Motor will invest ₹1,200 crore to establish a Business Intelligence Hub near Bengaluru.

In addition to this, MSPL will invest ₹884.25 crore, Ensure Reliance Power Solutions ₹250 crore, Honda Cars ₹437 crore, Bhima Fine Chemicals ₹605 crore, Sansera ₹492.24 crore, TVS Motors ₹1,050 crore and Havells India will invest ₹250 crore in various projects.

According to Priyank Kharge, Karnataka’s Minister for Home Affairs, Information Technology, Biotechnology, and E-Governance, the investments reflected Karnataka's growing strength across sectors, including aerospace, electronics manufacturing, digital infrastructure and business intelligence.

"From aerospace and electronics manufacturing to digital infrastructure and business intelligence, Karnataka continues to be one of India’s most trusted and preferred destinations for business and investment," he said in a post on X.

During the meeting, the Chief Minister directed the Finance Department to thoroughly scrutinise project reports submitted for industrial licences and said a pre-clearance audit should be made mandatory for projects.

He also instructed officials to constitute a new audit team and ensure strict compliance with the provisions of the industrial policy while taking steps to encourage the establishment and expansion of industries in the state.

Identify cities beyond Bengaluru

Last week, CM Shivakumar had also directed officials to identify five cities other than Bengaluru for industrial development in various parts of the state.

Speaking at the progress review meeting of the Commerce and Industries Department on Friday, the Karnataka CM asked officials to identify five suitable cities with airports and other infrastructure that can be developed for industrial investment and create job opportunities.