Karnataka enters pact with 23 firms for Rs 28k cr infra investments
ECONOMY & POLICY

Karnataka enters pact with 23 firms for Rs 28k cr infra investments

The Karnataka government has entered an agreement with 23 companies, including 12 multinational companies, for investments of around Rs 28,000 crore.

During the Covid-19 pandemic, the state government generated Rs 1 lakh crore investments since March 2020, said Chief Minister, B S Yediyurappa, at the invest Karnataka Conclave.

During the beginning of the pandemic, the government cleared over 520 industrial projects, including the MoUs signed with the 23 companies, with a total of Rs 77,000 crore investments in multiple sectors.

The MoU includes projects in various sectors, like electric vehicles, data centres, aerospace, and defence. Even in the time of the pandemic, Karnataka has garnered Rs 28,600 crore investments in the last six months from Mou and investment proposals.

Minister of Large and Medium Scale Industries of Karnataka, Jagadish Shettar, while speaking on the occasion, said that the companies which have signed the MoUs include US-based Li-ion cell manufacturer, C4V, invested Rs 4,015 crore, a Singapore-based LNG terminal operator, LNG Alliance invested Rs 2,250 crore, and Adani Data Centers invested Rs 5,000 crore.

Shettar said that the state government has always prioritised promoting the economic and industrial development of the state. With an investor-centric approach, the government has launched the New Industrial Policy 2020-2025 to prosper Karnataka and build large-scale employment opportunities. He said this policy would include various incentives and regulatory reforms like land access and labour market regulation.

Image Source


Also read: PM Narendra Modi inaugurates infra projects in UP worth Rs 1,583 cr

The Karnataka government has entered an agreement with 23 companies, including 12 multinational companies, for investments of around Rs 28,000 crore. During the Covid-19 pandemic, the state government generated Rs 1 lakh crore investments since March 2020, said Chief Minister, B S Yediyurappa, at the invest Karnataka Conclave. During the beginning of the pandemic, the government cleared over 520 industrial projects, including the MoUs signed with the 23 companies, with a total of Rs 77,000 crore investments in multiple sectors. The MoU includes projects in various sectors, like electric vehicles, data centres, aerospace, and defence. Even in the time of the pandemic, Karnataka has garnered Rs 28,600 crore investments in the last six months from Mou and investment proposals. Minister of Large and Medium Scale Industries of Karnataka, Jagadish Shettar, while speaking on the occasion, said that the companies which have signed the MoUs include US-based Li-ion cell manufacturer, C4V, invested Rs 4,015 crore, a Singapore-based LNG terminal operator, LNG Alliance invested Rs 2,250 crore, and Adani Data Centers invested Rs 5,000 crore. Shettar said that the state government has always prioritised promoting the economic and industrial development of the state. With an investor-centric approach, the government has launched the New Industrial Policy 2020-2025 to prosper Karnataka and build large-scale employment opportunities. He said this policy would include various incentives and regulatory reforms like land access and labour market regulation. Image Source Also read: PM Narendra Modi inaugurates infra projects in UP worth Rs 1,583 cr

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code