BENGALURU: Karnataka’s global roadshows in Japan, South Korea, the U.S., and Europe have attracted investment interest worth $3 billion and MoUs exceeding Rs 11,000 crore.
“We have got a great response to our roadshows. In Japan and South Korea, more than 200 companies participated. In Europe, the state held over 50 B2G (business to government) meetings and seven roadshows across four countries. We also collaborated with more than 20 universities,” Large and Small Industries Minister MB Patil told The New Indian Express ahead of the Global Investors Meet to be held from February 12-14.
Patil also highlighted that Karnataka is working on implementing a ‘AI-powered single window’ clearance system to simplify the investment process, making it easier for companies to navigate approvals and access tailored incentives. These are developed in collaboration with Microsoft and include AI-driven tools to assist investors, ensuring faster and more efficient project clearances, Patil added.
The AI-powered single window system will bring together land allocation tools, a grievance redressal mechanism, and application processes on a single platform. It will also include multi-lingual AI chatbots and Geographic Information System-based (GIS) tools to help investors make informed decisions, the minister said.
Karnataka will also introduce sector-specific policies to encourage investments in emerging industries. “The focus is on Global Capability Centre Policy, which will promote AI and advanced technology hubs, while the Clean Mobility Policy will be used to boost investments in electric vehicles and sustainable practices,” Patil said, stressing that the aim is to create a pro-business environment.
Highlighting other investments, Patil said that since April 2023, Karnataka has attracted over Rs 1.15 lakh crore in investments through the single window system. These investments cover key industries such as electronics manufacturing, renewable energy, electric vehicles, aerospace, and infrastructure development.
“One of the major investments is by Foxconn, which is setting up an iPhone assembly unit on a 300-acre site with an investment of Rs 22,000 crore, followed by Hero Future Engines, which invested Rs 11,000 crore in renewable energy, green hydrogen, and its derivatives.
Invest Karnataka to feature 19 country partners and nine dedicated pavilions
Invest Karnataka 2025 will bring together 19 country partners, including France, Japan, Germany, the U.K., and Singapore, along with nine dedicated pavilions showcasing investment and trade opportunities. The summit will also focus on small and medium enterprises (SMEs) and startup growth, training over 2,000 SMEs in Industry 4.0, supporting 100 in digital transformation, and launching the second edition of the VentuRISE Global Startup Challenge to boost manufacturing and green-tech startups.