Karnataka draws 62 investments worth Rs 30 billion

30 Nov 2023 CW Team

The approval for 62 industrial investment proposals amounting to Rs 36.07 billion, with the potential to generate 10,755 jobs within the state, has been granted by the Karnataka government. The State Level Single Window Clearance Committee, led by M B Patil, the Minister of Large and Medium Industries and Infrastructure Development, cleared these proposals at a meeting.

It was disclosed by the minister's office that eight of these proposals involve investments exceeding Rs 500 million, reaching a total of Rs 20.88 billion. These proposals have the capability to create 6,360 jobs.

Texcon Steels, Hundri Sugars and Ethanol, Bren Life Sciences, Alpine Ethanol, Virupaksha Laboratories, and Qualcomm India are among the notable investors.

Out of the 62 proposals, 51 investment projects fall in the range of Rs 150 million to Rs 500 million, summing up to Rs 9.41 billion, and are expected to generate employment for 4,395 individuals within Karnataka, according to the statement.

Additionally, the committee approved three projects with an extra investment of Rs 5.77 billion.

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