BENGALURU: Of the total Rs 10 lakh crore in investment commitments during the Global Investors’ Meet (GIM) 2025, the Karnataka government targets at least 70% realisation this time, unlike the 2022 edition where the state could realise only 40-50% of the total Rs 9.8 lakh crore proposed investments.
Large and Medium Industries Minister MB Patil told The New Indian Express that excluding green hydrogen projects in 2022, 40-50% realisation happened from previous commitments. Though Rs 2,40,000 crore worth of MoUs in the green hydrogen sector were committed in 2022 GIM, due to infrastructure challenges it was not realised, except one or two projects.
GIM will be held in Bengaluru from February 12-14, and it will feature over 75 leaders including Mahindra & Mahindra chairperson Anand Mahindra, Aditya Birla Group Chairperson Kumar Mangalam Birla and JSW Group MD Sajjan Jindal, among others. The meet is happening at a time when geopolitical challenges, climate and sustainability issues are affecting various sectors.
Patil said that the new single-window system, which is AI-based developed by Microsoft, can now help in clearing all proposals from the present 100 days to 50 days.
Last year, at least a couple of semiconductor investment proposals were claimed to be diverted to Gujarat. The minister said, “This semiconductor issue has been highlighted and everybody knows...We have both the talent and skills here in Karnataka.” He added that the state is focused on the whole ecosystem- the semiconductor value chain.
The minister also pointed out that the centre plays a major role when it comes to large-scale fab investments, as about 50% of the incentives come from them.
“We have to gear up for the next round of growth. Our focus is also much more on manufacturing now. We are taking the manufacturing to the next level,” he added.
He also said how companies are looking Beyond Bengaluru as now Belagavi has a private aerospace park, developed by Aequs, FMCG parks in other cities. The State Government is also offering incentives so as to attract firms to establish units in other cities beyond Bengaluru, he said.