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Ab InBev plans to invest $50 million (₹400 crore) to enhance and expand its brewery operations in Karnataka, according to the company.
Ab InBev’s investment plans were among the highlights of Day 3 of the WEF Davos 2024.
Delegates from Karnataka held a number of high-profile meetings with companies such as Ab InBev India, Genatri, HP Enterprise, HCL Technologies, NTT Data, Cisco, Swiggy, and Volvo Cars on the third day of the summit. The delegation highlighted the state’s robust ecosystem, skilled workforce, and business-friendly policies during these meeting.
Expressing optimism about the outcomes of these deliberations, the Karnataka Minister for Infrastructure Development, M.B. Patil, said: “Karnataka is committed to creating an environment that fosters innovation, growth, and collaboration. We believe in the power of partnerships, and these discussions with global and national leaders at WEF Davos 2024 marks the beginning of transformative ventures that will contribute significantly to Karnataka’s economic landscape.”
HP Enterprise is all set to unveil two new properties in Mahadevpura (Whitefield), which would be the largest concentration of HP facilities globally, nearly double the size of its next biggest site. The Karnataka Government has extended full support to the company, particularly in expediting GST processes to fast-track the completion and operation of the two new buildings.
HP plans to locate its global leadership in Karnataka, recognising it as the hub for majority value addition. Notably, 60 per cent of HP’s IT department is based in Bengaluru, besides 20 per cent of its global workforce.
HCL has channelled investments amounting to ₹45,000 crore to acquire and develop technologies, generating $350 billion of activity on various platforms. The majority of HCL’s intellectual property is registered in Bengaluru. Operating in 132 countries, HCL Tech, headquartered in India, is poised to launch over 25 products, addressing governance solutions and utilising artificial intelligence for risk assessment in industries, commerce, and business.
NTT, which employs between 15,000 to 17,000 individuals in its data centres, has invested $900 million in Karnataka, besides committing to further investments totalling $2 billion in the upcoming years. The company acknowledged the government’s assurance to provide reliable power supply for the seamless operation of data centres, while committing to achieving 100 per cent renewable energy usage by 2030.
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