Karnataka pockets ₹1.33 lakh cr worth of investments in two days

Karnataka has attracted investments to the tune of Rs 1,33,177 crore at the Invest Karnataka 2016 – the Global Investors Meet.

The state in the last two years has gathered over Rs 3 lakh crore investments by approving 1,201 projects and signing MoUs.

MoUs and investments were signed across sectors for companies setting up units across Karnataka. Most of these investment proposals were received in last few months, and in total Rs 1,75,633 crore worth of projects have already been approved.

Projects approved are in multiple sectors and are located across the state including districts of Ballari, Dakshina Kannada, Mysuru, Tumakuru, Shivamogga, Bengaluru Rural and Kolar.

“In last two days during the event, further Rs 1,33,177 crore worth of investment interest have been received.

Cumulatively, these investment proposals are expected to generate a total employment of 6,70,931 across the state,” said R V Deshpande, Karnataka Minister for Large, Medium Industries & Tourism.

“This is the culmination of several months of effort by the government, that organized road shows at several cities in India and abroad,” he added.

The energy sector garnered the highest investment valued at over Rs one lakh crore. Most of these projects were in the renewable energy sector particularly in waste energy, solar energy and wind projects.

About Rs 38,000 crore investment was firmed up in the steel sector promising employment to about 6,000 people.

The chemicals sector saw investments of about Rs 24,000 crore with an employment potential for 5,000 people.

Other leading sectors that attracted high level of investor interest are food and agribusiness, infrastructure, tourism, oil and gas and aerospace.

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