Karnataka govt approves 48 industrial projects worth Rs 2,062 crore

Also, at the SLSWCC meeting, 40 new projects each with investment of more than Rs 15 crores and less than Rs 50 crore were cleared

Despite Covid-19-induced economic constraints, investments have continued to flow into Karnataka, with the state government clearing 48 industrial projects worth Rs 2,062.21 crore. They are expected to generate employment for more than 6,300 people in the state.

The proposed investments were cleared at the recent State Level Single Window Clearance Committee (SLSWCC) meeting, according to Industries Minister Murugesh Nirani’s office.

Eight of the 48 projects cleared by the SLSWCC are large and medium-size industrial projects, with an investment of Rs 50 crore or more. These eight companies will invest a total of Rs 1,275.67 crore and are expected to create job opportunities to more than 3,000 people.

Among the projects cleared, the largest investor was Rockwell Collins India Enterprises Limited — a manufacturer of technology hardware and part of the Raytheon Group. Rockwell Collins will invest Rs 253.75 crore in the state and generate employment for 1,306 people.

The SLSWCC meeting also cleared 40 new projects with investments ranging from Rs 15 crore to Rs 50 crore. These projects are expected to attract investments worth Rs 724.87 crore with a potential to create 3,212 jobs in the state.

The other major investments cleared by the government are a Rs 231.82-crore project by Nithin Sai Agrotech Private Limited with employment potential for 965 people, a Rs 89.10-cr project of Brightflexi International Private Limited which is expected to create 165 jobs, a Rs 75-crore project by Cookson India Private Limited, employing 85 persons, a Rs 74.52-crore project by Adcock Ingram Pharma Private Limited expected to employ 115 people, and Rs 61.86-crore investment by Starling Chem Pvt Ltd, which os expected to create 84 jobs.

Karnataka continues to attract investments in various sectors and has remained a sought-after investment destination in the country. “Karnataka has attracted 40% of Foreign Direct Investment during April–December 2021 and stands at the first place in the Country,” Chief Minister Basavaraj Bommai had said in the budget presented last week.

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