Karnataka realises ₹4.71 lakh cr investment in 11 months: Minister Patil

Bengaluru, Jan 16 (PTI) Karnataka has realised investments worth ₹4.71 lakh crore within 11 months of its Global Investors' Meet held in February 2025, accounting for 46 per cent of the ₹10.27 lakh crore commitments secured at the event, Minister for Large and Medium Industries M B Patil said on Friday.

Sharing details ahead of his participation in the World Economic Forum at Davos from January 19 to 23, Patil said the state has seen rapid conversion of investment commitments into on-ground projects, driven by faster clearances and a fully digital single-window system.

Of the ₹5.66 lakh crore in manufacturing investment commitments, ₹3.22 lakh crore has already materialised, reflecting a success rate of 58 per cent. In the renewable energy sector, investments of ₹1.41 lakh crore have been realised against commitments of ₹4.25 lakh crore, while the infrastructure development sector has seen ₹8,500 crore realised out of ₹45,000 crore committed, he said.

Patil said the state has moved beyond the memorandum-of-understanding stage by streamlining land allotment, statutory approvals and application processing through a digital single-window platform integrating over 150 services across more than 30 departments.

"We have not stopped at the MoU stage alone," the minister said.

Once investment proposals are submitted, processes such as application handling, land allotment, statutory clearances and approvals are being facilitated through a fully digital single-window system. Under this mechanism, more than 150 services across over 30 departments have been integrated.

"As a result, sectors such as manufacturing, ESDM, semiconductors and food processing are witnessing steady investment inflows," he said, adding that nearly 50 per cent of all investment proposals and about 60 per cent of manufacturing proposals have been submitted through Karnataka Udyog Mitra.

Over the past year, investment proposals in the state have been materialised at a faster pace, reflecting the creation of a more industry-friendly ecosystem than earlier, he said.

These outcomes reflect the success of the state's structured industrial policy and reform-oriented initiatives. "We are ensuring that no project remains confined to the MoU stage, but is taken to its logical conclusion," Patil said.

MAJOR PROPOSALS

In manufacturing, Silfex has proposed an investment of ₹9,300 crore to set up a silicon components facility for the semiconductor sector, while MV Energy plans to invest ₹5,495 crore to expand solar cell and module manufacturing in the ITIR area of Bengaluru. Jindal Steel has proposed a ₹7,000-crore electrical steel manufacturing unit at Vijayanagar.

UltraTech Cement has proposed ₹4,819 crore for a cement plant in Kalaburagi district, while Dalmia Cement has proposed ₹3,000 crore along with an additional ₹3,020 crore for expansion at Yadawada in Belagavi district.

In renewable energy, Tata Power has proposed investments of ₹8,134 crore, Suzlon Energy ₹12,032 crore in Vijayapura district, and Volvo ₹1,251 crore to expand its Hosakote facility. Havells India has proposed ₹710 crore in Tumakuru district to expand manufacturing and set up a new R&D centre.

Additional proposals include Balaji Wafers ( ₹550 crore), ASM Technologies ( ₹490 crore), TZMO India ( ₹58 crore), Tata Advanced Systems Ltd ( ₹500 crore) for Airbus H125 components at Vemagal, and Safran Electronics ( ₹250 crore) for avionics and defence manufacturing.

"We are ensuring that no project remains confined to the MoU stage, but is taken to its logical conclusion," Patil said.

In the medical and sanitary equipment sector, TZMO India has proposed an investment of ₹58 crore. TASL has proposed an investment of ₹500 crore at Vemagal in Kolar district for manufacturing components required for the Airbus H125 model. Safran Electronics has proposed an investment of ₹250 crore for the manufacture of avionics and defence equipment, the minister added.