Karnataka Government approves Rs 3.5 tn investments for 1,958 projects
Technology

Karnataka Government approves Rs 3.5 tn investments for 1,958 projects

In order to drive industrial development across Karnataka, the Karnataka Government has reportedly approved 1,958 projects with an investment of Rs 3.5 trillion. Karnataka is expected to be the first state in the country in fiscal 2018-2019 in attracting such investments. These projects have the potential to create jobs for over 1 million people.

Also, the government is reportedly implementing the compete with China scheme to develop nine industrial clusters across the state. Karnataka has been rated top in the start-up ranking by the Department of Industrial Policy and Promotion (DIPP) in IT and biotechnology, with Bengaluru start-up scenario valued at about $19 billion. Nearly 0.25 million youth are expected to be trained in the latest technologies through vocational institutions to enable them to get jobs at the earliest. The state government is expected to collaborate with the world's leading start-up ecosystems in Britain, France, Israel, Japan and the US as the start-ups in the state are expected to touch 20,000 by 2025.

The state government has also set up 58 K-Tech (Karnataka Technology) innovation centres in Tier-I and Tier-II cities across the state to incubate start-ups in thousands. In order to enhance education and employment, the coalition government has reportedly committed to starting English medium in state-run schools across Karnataka. Rs 4.5 billion has been reportedly sanctioned and released for upgrading the infrastructure in state-run schools across the state.

In order to drive industrial development across Karnataka, the Karnataka Government has reportedly approved 1,958 projects with an investment of Rs 3.5 trillion. Karnataka is expected to be the first state in the country in fiscal 2018-2019 in attracting such investments. These projects have the potential to create jobs for over 1 million people. Also, the government is reportedly implementing the compete with China scheme to develop nine industrial clusters across the state. Karnataka has been rated top in the start-up ranking by the Department of Industrial Policy and Promotion (DIPP) in IT and biotechnology, with Bengaluru start-up scenario valued at about $19 billion. Nearly 0.25 million youth are expected to be trained in the latest technologies through vocational institutions to enable them to get jobs at the earliest. The state government is expected to collaborate with the world's leading start-up ecosystems in Britain, France, Israel, Japan and the US as the start-ups in the state are expected to touch 20,000 by 2025. The state government has also set up 58 K-Tech (Karnataka Technology) innovation centres in Tier-I and Tier-II cities across the state to incubate start-ups in thousands. In order to enhance education and employment, the coalition government has reportedly committed to starting English medium in state-run schools across Karnataka. Rs 4.5 billion has been reportedly sanctioned and released for upgrading the infrastructure in state-run schools across the state.

Next Story
Products

TOTO India Launches Premium G & L Showers with Sleek Faucet Range

TOTO India has launched its G Shower and L Shower series, alongside an expanded range of GT, LH, and Pull-Out lavatory faucets. The collection blends advanced technology, refined aesthetics, and everyday comfort, staying true to TOTO’s philosophy of creating spaces that are both beautiful and functional. The G Shower series delivers the 3Rs of showering: Relaxing, Refreshing, and Revitalizing. Features include the Calming Shawl spray mode, Warm Spa technology, and multiple overhead and hand-shower options across eight finishes. The L Shower complements this with easy-to-use controls sui..

Next Story
Infrastructure Energy

Hero Future Energies Secures Funding for 120 MW Hybrid Project

Hero Future Energies (HFE), through its SPV Clean Renewable Energy Hybrid Three, has secured Rs 19.08 billion in funding from the State Bank of India (lead) and Canara Bank. The funds will be used to develop and construct HFE’s 120 MW renewable energy hybrid project at Kurnool, Andhra Pradesh. The project, contracted with SJVN, integrates wind, solar, and storage technologies to deliver reliable peak power. With a 21-year repayment period, the funding ensures timely execution and the commencement of commercial operations. The financial closure demonstrates continued lender confidence in..

Next Story
Infrastructure Energy

IOC GPS Renewables Raises Rs 8.36 billion Debt for Compressed Biogas Plants

IOC GPS Renewables Private Limited (IGRPL), a joint venture between IndianOil Corporation  and GPS Renewables, has raised Rs 8.36 billion (approx. US$ 95 million) in debt financing from Indian Bank to execute nine Compressed Biogas (CBG) projects across India.   The funding is the largest single-bank debt raise in the CBG sector and the first fully non-recourse financing in India for these projects. The plants—four in Haryana, three in Uttar Pradesh, one each in Chhattisgarh and Andhra Pradesh—will each produce 15 tonnes of CBG per day using paddy straw as feedstock. All nin..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?