Karnataka expecting ₹10 lakh cr investment commitments in investor meet

With participation from 19 countries, it will include business sessions, awards, and a showcase of Karnataka's strengths in various industries.

Karnataka is expecting to sign investment commitments of about ₹10 lakh crore with an array of industries at its biennial investor meet this week, aimed at showcasing the state's industrial potential, M B Patil, Minister of Large and Medium Scale Industries, said.

Karnataka Minister for Large and Medium Industries MB Patil on Tuesday paid a visit to the Republic Day Flower Show at Lalbagh.

The Invest Karnataka 2025 -- Global Investors Meet (GIM 2025), scheduled from February 11-14 in Bengaluru, aims to position Karnataka as a premier global investment hub.

"We are expecting around ₹10 lakh crore in investments, with at least 70 per cent converting into reality (and) not just (remaining) on paper," he told PTI Videos.

On the theme of the summit 'Re-Imagining Growth', Patil said this "because today we are in a stage where our world is moving towards tech-driven, green, inclusive, and more importantly, resilient growth. Because we are in a situation... (these are) challenging times. There is a war in Ukraine and Russia, then the Israel-Gaza conflict, (US President) Trump's policies, China plus one, two years (post recovery from) Covid-19, and more importantly, artificial intelligence, clean mobility coming in".

"EVs and green hydrogen will take centrestage. Diesel, petrol, and all fossil fuels will be phased out. So these are challenging times, how do you adapt to that? We have a very strong system, which has to be resilient to all these changes. So we have this investors meet in these challenging times," he said.

The inaugural session will be on February 10 at 4 pm.

"The governor will be there with his auspicious presence. Chief Minister Siddaramaiah will be presiding, and Union Defence Minister Rajnath Singh will be inaugurating. Many central ministers are going to participate, some on 12th, some on 13th, and some on 14th. State ministers, industrialists, and big names will all be participating in this meet," he said.

February 12 and 13 will feature business sessions, including a semiconductor summit. On February 12 evening, there will be an award function recognising industries that have contributed to Karnataka's growth.

On February 13, there will be multiple sessions and roundtables, including the Queen's City roundtable. The event will conclude on February 14 with awards for ventures and key contributors.

As many as "19 countries are participating, with 9 of them having their pavilions here. It will be a meaningful forum, with 60 speakers sharing insights," he said.

The minister said Karnataka is already a leader in IT, biotechnology, electronics, machine tools, aerospace, and defense. "We aim to continue leading in India and compete globally."

Karnataka, he said, has always been a fertile ground for industries to thrive. "Challenges exist, but we are addressing them. Semiconductor, AI, and automation will play a key role in industries from mobile manufacturing to heavy industries. We are unveiling an industrial policy with flexible incentives -- either production-linked or capital-based, as per investor preference."

"We are offering incentives for employment, especially for women. R&D that translates into manufacturing will get an additional 10 per cent incentive. Sustainability and green manufacturing initiatives will also receive incentives," he said, adding that a single-window portal developed by Microsoft will streamline approvals.

The portal integrates all departments, reducing approval time by half. "Everything will be available at the touch of a button, significantly improving the ease of doing business. Karnataka will be among the best states to do business," he said.

"We are open to all sectors and all countries. We are not restricted to any one industry -- our doors are open for investments across sectors and geographies," he added.