Karnataka attracted investments worth Rs 10.27 lakh crore during GIM: MB Patil

Bengaluru: During the Invest Karnataka 2025-Global Investors Meet, the state attracted Rs 10.27 lakh crore worth of investments that are expected to create 6 lakh jobs, Industries Minister MB Patil said on Friday. 

The investment commitments amount to Rs 4.03 lakh crore, while memorandums of understanding (MoUs) signed amount to 6.23 lakh crore, totalling the promised amount. Of the total amount, at least 70% is expected to be realised, said Patil during a media briefing after the conclusion of the GIM. 

Giving a regional breakup, Patil said that 75% of the investments are outside Bengaluru, with over 45% being promised for North Karnataka. Of the projects being planned, 70% are greenfield or new projects.

“Several prestigious companies have shown keen interest in large-scale investments. If these discussions bear fruit, the final investment figure could be even higher,” Patil said. 

The maximum amount of investments promised, amounting to 41%, was in the renewable energy sector at Rs 4.25 lakh crore, followed by core manufacturing (steel and cement) at Rs 1.60 lakh crore or 15%. Close behind was manufacturing in the sunrise sectors (aerospace and defence, auto and EV, research and development) at Rs 1.39 lakh crore, and general manufacturing at Rs 1.05 lakh crore.

The biggest investment was made by JSW Group at Rs 1.2 lakh crore across renewable energy, cement, steel and affiliate businesses. Other big commitments were from Baldota Steel and Power Limited (Rs 54,000 crore), Mahindra Susten Pvt Ltd (Rs 36,000 crore), Hero Future Energies (Rs 22,200 crore), Suzlon Energy Ltd (Rs 21,950 crore) and Epsilon Group (Rs 15,350 crore).

In addition, there were 10 KWIN (Knowledge, Well-Being & Innovation) City MoUs signed with domestic and international universities.

The final ceremony of the event also saw the launch of a small and medium-sized industries (SME) portal. “With rising land prices in the state, we are considering alternative support mechanisms for entrepreneurs,” Deputy Chief Minister D K Shivakumar said. 

The Clean Mobility Policy was also launched, aiming to attract Rs 50,000 crore in investments across the sector’s value chain, generating 1 lakh new jobs. An incentive package was also added including a subsidy of up to 25% of the total invested capital expenditure across the state.

“Karnataka is probably the first state in the country to have a green mobility policy, and the rest of us need to follow suit. Not everybody can be Karnataka, but we can learn from it,” said Shashi Tharoor, Member of Lok Sabha and Chairman of the Parliamentary Standing Committee on External Affairs.

The Industrial Policy, unveiled in the beginning of the event, aims to generate 20 lakh jobs across various sectors.

Patil outlined plans for new industrial parks in Tumakuru and Vijayapura, a startup park in Hubballi, and deep-tech parks and Swift Cities in other parts of the state. These initiatives are expected to generate investments of Rs 1 lakh crore each, creating 1 lakh jobs per project.