Karnataka stepping forward to become world's 'Capital of Innovation': Siddaramaiah

He said, investors have expressed interest in bringing in over Rs 10 lakh crore in investments. Out of this, 48% has already been processed under Single Window IT Platform.

Bengaluru: Chief Minister Siddaramaiah on Friday said Karnataka is already India's IT capital, and it is now stepping forward to become the world's 'Capital of Innovation'.

He said Karnataka ranks second nationally in attracting foreign direct investment, and remains among the nation's leading industrial states.

The Chief Minister said this while delivering his address at the 79th Independence Day celebrations here.

"Our government has never lagged in prioritising industrial growth. To manage and develop the state's largest industrial regions into global manufacturing hubs with world-class infrastructure, 18 industrial areas covering 44,166 acres have been declared Special Investment Regions. Alongside, we continue to encourage small industries," Siddaramaiah said.

He said, investors have expressed interest in bringing in over Rs 10 lakh crore in investments. Out of this, 48 per cent has already been processed under Single Window IT Platform.

Karnataka remains among the nation's leading industrial states, with the manufacturing sector contributing 23.6 per cent to the state's GSDP, and the state ranks second nationally in attracting foreign direct investment, he said.

"A new Tourism Policy has been implemented to boost tourism in the state by developing world-class infrastructure and fostering entrepreneurship in the sector."

Noting that the government has rolled out multiple programmes for the welfare of labourers, particularly in the unorganised sector, the CM said, "We will be soon implementing the Karnataka Labour Policy to ensure job security."

The state has made significant achievements in the services sector, which contributes 66.7 per cent to our GSDP, he said, "We are not only safeguarding the interests of all workers engaged in this sector, but enacting 'Platform-Based Gig Workers Bill' for the welfare of over five lakh gig workers." Under this Bill, the government is introducing an insurance scheme providing coverage of up to Rs 4 lakh for these workers, he added.

The government is undertaking various initiatives for job creation, Siddaramaiah said and added that at Invest Karnataka-2025 (Global Investors Meet), held in February 2025, a total of 3,250 entrepreneurs participated.

"We signed agreements with 98 companies for investment of Rs 6,23,970 crore, and 1,101 companies have obtained necessary approvals for investments worth Rs 4,03,533 crore. These initiatives are expected to generate over 6 lakh jobs," he said.

In 2023-24, Karnataka attracted Rs 54,427 crore in foreign investment, ranking third in the country, Siddarmaiah said.

"In 2024-25, we have attracted Rs 56,030 crore, moving up to second place nationally," he added.

Stating that Karnataka is at the forefront in quantum technology, artificial intelligence, renewable energy, and biotechnology, Siddaramaiah said the country's first quantum computer is in Karnataka. "Our Karnataka Quantum Mission will shape the future of science." "We are not merely creating jobs. We are creating ideas, inventions, and innovations that change lives. These ideas are reaching far beyond our borders," he added.