Karnataka Wins $115 Billion in Investments, Introduces Policy 25-30

17 Feb 2025 CW Team

Karnataka is set to strengthen its industrial and manufacturing landscape with the Invest Karnataka 2025 summit. As of February 12, 2025, the state has received investment proposals worth Rs 10 trillion. Additionally, the Karnataka government has launched its Industrial Policy 2025-30, aiming to generate two million jobs by 2029, achieve a 12% annual growth in manufacturing, and attract Rs 7.5 trillion in investments.

The three-day Invest Karnataka 2025 summit, held from February 12 to 14, seeks to enhance the state’s manufacturing sector and employment opportunities. This record-breaking influx of investments positions Karnataka as a leading hub for technology and industry, reinforcing its status as a premier destination for manufacturing and innovation.

Swiss investment in Karnataka

On February 13, 2025, Karnataka signed a Memorandum of Understanding (MoU) with the Swiss-Indian Chamber of Commerce (SICCI) to boost international business collaboration. The agreement was formalised in the presence of the state's Minister for Large and Medium Industries and representatives from 19 leading Swiss companies. This partnership aims to strengthen economic ties, trade partnerships, and structured engagement between Swiss businesses and the Karnataka government.

Major investment announcements

Key sectors attracting investment include renewable energy, steel, semiconductors, and automobiles. Several major global and domestic corporations have pledged investments, including:

JSW Neo Energy Ltd. – Rs 560 billion for solar, wind energy, and battery storage.
Baldota Steel & Power Ltd. – Rs 540 billion for an integrated steel plant.
Tata Power Renewable Energy Ltd. – Rs 500 billion for renewable energy projects.
ReNew Pvt. Ltd. – Rs 500 billion for 4GW renewable energy projects.
JSW Group – Rs 439 billion for cement and steel expansion.
Mahindra Susten Pvt Ltd. – Rs 350 billion for renewable energy.
Volvo Group – Rs 14 billion for expanding its manufacturing hub in Hosakote, Bengaluru.

Karnataka’s semiconductor push

With major semiconductor players like Intel, Micron, and TSMC committing to investments, Karnataka aims to establish itself as a global semiconductor hub. On February 12, 2025, Lam Research announced a $1.15 billion investment in the state. The company signed an MoU to develop semiconductor manufacturing infrastructure in collaboration with the Karnataka Industrial Areas Development Board (KIADB).

Karnataka’s Industrial Policy 2025-30

The newly introduced Industrial Policy 2025-30 focuses on fostering high-growth sectors, sustainable industrialisation, and balanced regional development. Key objectives include:

Manufacturing Growth: Targeting a 12 per cent annual increase in the sector and attracting Rs 7.5 trillion in investments.
Green Manufacturing: Incentives for industries implementing Zero Liquid Discharge (ZLD), air pollution control, and Greenco certifications.
Investor-Friendly Reforms: Enhanced Single Window System (SWS) for streamlined approvals.
Skill Development: Industry-integrated workshops, vocational training, and specialised courses in Industrial Training Institutes (ITIs).
Logistics & Warehousing: Recognised as an industry, benefiting from capital subsidies and policy support.

Strategic industrial development

The Karnataka government plans to establish 12 new investment zones spanning 30,000 acres and sector-specific industrial parks, including:

Advanced Pharma Park in Kolar
Solar Cell & Food Park in Vijayapura
Drone Park in Chitradurga
EV Clusters in Chikkaballapur and Dharwad
200-acre Startup Park in Hubballi to support over 400 startups
1,200-acre Industrial Park in Tidagundi, Vijayapura

Digital transformation and Single Window System (SWS) overhaul

Karnataka has upgraded its SWS by introducing Udyog Mitra Assistant (UMA), an AI-driven chatbot providing real-time guidance on policies, approvals, and incentives. The system integrates over 150 business services across 30+ state departments, streamlining approvals and reducing turnaround times. The chatbot also facilitates grievance resolution, providing transparency and efficiency in investment processes.

With these developments, Karnataka is positioning itself as a global industrial and technological powerhouse, driving sustainable and inclusive economic growth.

(India Briefing)

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