BENGALURU: Industries Minister MB Patil on Wednesday said the World Economic Forum’s Davos summit proved to be a significant milestone for Karnataka, as the state attracted investment to the tune of Rs 23,000 crore.
Addressing the media about the outcome of the summit, Patil said the state delegation engaged in over 50 strategic meetings with global industry leaders such as Nestlé, HP, HCL, Volvo Group, IKEA, Sony, Microsoft, and Hitachi.
Web Werks pledged Rs 20,000 crore to establish a 100-MW data centre in Bengaluru, promising employment opportunities for 1,000 people, Microsoft committed to contributing to digital skill development, while Hitachi signed an MoU focused on promoting economic growth in rural areas, said a statement from the minister’s office.
Patil said several companies expressed interest in initiating operations in North Karnataka. Lulu Group plans to establish a new Rs 300-crore food processing unit in Vijayapura and invest further in expanding its existing unit in Kalaburagi. BL Agro, on the other hand, is gearing up to establish a fully-equipped food processing plant in Vijayapura as well, which will play a pivotal role in procuring, grading, sorting, and packaging local food products for both domestic and international markets.