Karnataka realises Rs 4.71 lakh crore investment in 11 months—46% of commitments made during Global Investors' Meet

Karnataka has realised investments worth Rs 4.71 lakh crore within 11 months of its Global Investors' Meet held in February 2025, accounting for 46% of the Rs 10.27 lakh crore commitments secured at the event, Minister for Large and Medium Industries M B Patil announced on Friday.

Speaking ahead of his participation in the World Economic Forum at Davos from January 19 to 23, Patil attributed the rapid conversion of investment commitments to faster clearances and a fully digital single-window system.

The manufacturing sector has seen the highest conversion rate, with Rs 3.22 lakh crore realised out of Rs 5.66 lakh crore committed, a 58% success rate. In renewable energy, Rs 1.41 lakh crore has been materialised against commitments of Rs 4.25 lakh crore, while infrastructure development has seen Rs 8,500 crore realised from Rs 45,000 crore pledged.

"We have moved beyond the MoU stage by streamlining land allotment, statutory approvals, and application processing through a digital single-window platform integrating over 150 services across more than 30 departments," Patil said.

Major investment proposals include Silfex's Rs 9,300 crore silicon components facility for semiconductors, MV Energy's Rs 5,495-crore solar manufacturing expansion, and Jindal Steel's Rs 7,000-crore electrical steel unit at Vijayanagar.

In renewable energy, Tata Power has proposed Rs 8,134 crore and Suzlon Energy Rs 12,032 crore in Vijayapura district. UltraTech Cement plans a Rs 4,819-crore cement plant in Kalaburagi, while Dalmia Cement has proposed Rs 6,020 crore across projects in Belagavi.

Nearly 50% of all investment proposals and 60% of manufacturing proposals have been submitted through Karnataka Udyog Mitra, the state's digital investment platform.

"We are ensuring that no project remains confined to the MoU stage, but is taken to its logical conclusion," Patil added.

(With inputs from PTI)