On the second day of the World Economic Forum in Davos, the Karnataka government entered into memorandums of understanding (MoUs) with seven companies, including Microsoft, Web Werks, and Hitachi, amounting to Rs 220 billion.

It was announced by the state industries department on January 17 that Web Werks had signed an MoU with the Karnataka government for the establishment of a data centre park worth Rs 200 billion.

Hitachi, in its MoU, focused on economic development in the rural sector, healthcare, education, and panchayat e-governance. The company's plans included the initiation of M-Star Telemedicine Deployment through Hitachi MGRM Net.

Four other companies collectively signed agreements valued at over Rs 20 billion.

Microsoft also joined in to collaborate on skilling and governance initiatives.

On the sidelines, Karnataka's minister for large and medium industries and infrastructure development, MB Patil, engaged in discussions with the heads of Volvo Group, Nestle, Sony, Inox Group, HP, Lulu Group, Honeywell, Takeda Pharma, Coinbase, BL Agro, Tillman Global, and other firms.