Karnataka has signed 115 MoUs over two years, attracting ₹6.57 lakh crore in investments with potential for 2.3 lakhs jobs, noted Industries and Infrastructure Minister M B Patil. The State also emerged as the second-highest recipient of foreign direct investment (FDI), exporting goods and services worth ₹13.91 lakh crore. It secured the top position in services exports and ranked fourth in goods exports for 2023–24. He further stated that the department has launched initiatives aimed at creating 6,00,000 jobs across the State.

During the Invest Karnataka Global Investors Meet held in February, MoUs worth ₹6,23,970 crore were signed with 98 companies. Additionally, 1,101 companies received approvals for proposals amounting to ₹4,03,533 crore. The State-Level Single Window Clearance Committees approved 906 investment projects, bringing in capital of about ₹1,13,200 crore. To ensure balanced industrial growth, 75 per cent of employment generated will be outside Bengaluru and 45 per cent in North Karnataka.

At a press conference in Vidhana Soudha, M B Patil stated, “The newly launched Industrial Policy 2025–30 aims to attract ₹7.5 lakh crore in investments over the next five years, with the goal of creating employment for 20 lakh people.” A key new industry policy offers investors the option to choose between CapEx subsidies or the production-linked incentive (PLI) scheme.

It was also recognised that Bengaluru is emerging as Asia’s capital for MRO with companies such as Tata, Indigo and Lockheed Martin taking the lead and the government is planning to develop sector specific industrial parks throughout the State including a Pharma Park in Kolar, Solar Cell Park in Vijayapura, Drone Park in Chitradurga, Mega Logistics Park in Hanumantapura, near Dabaspet, a Deep Tech Park in Jingamakote, Sidlaghatta taluk, and a Startup Park in Hubballi.

A Knowledge, Innovation, and Sustainable Development Zone or “Quantum City”, a 1,000-acre “Tech Fin City” are being planned near Bengaluru to support start-ups in AI, data analytics, fintech, and deep tech.

Infrastructure across the State is also developing as India’s first 100-foot U-girders have already been installed under the Bengaluru suburban rail project and there are more plans of development with nine railway line projects that are in progress under a 50:50 cost-sharing agreement between the State government and Ministry of Railways. The State will also provide free land and bear 50 per cent of the cost to construct 51 bridges in areas with more than 1 lakh train vehicle units (TVU) to replace level crossings with bridges.

(With inputs from BL intern Divyatha Chilukuri)

Published on June 13, 2025