Karnataka sees ₹4.71 lakh crore investments materialise in 11 months
Bengaluru
Karnataka has translated investment promises worth ₹4.71 lakh crore into actual investments within 11 months, following the Global Investors Meet (GIM) held in February 2025, Large and Medium Industries Minister M.B. Patil said on Thursday.
Addressing the media ahead of his departure to the World Economic Forum (WEF) annual meeting in Davos from January 19 to 23, Patil presented detailed data on the progress made in the State’s industrial sector over the past year. He said the GIM had secured investment commitments totalling ₹10.27 lakh crore, of which nearly 46 per cent had already been realised on the ground by the end of December.
According to the minister, the manufacturing sector accounted for a major share of the realised investments. Of the ₹5.66 lakh crore worth of commitments made to manufacturing, ₹3.22 lakh crore has already been converted into actual capital investment, marking a success rate of 58 per cent. In the renewable energy sector, investments worth ₹1.41 lakh crore have flowed in against commitments of ₹4.25 lakh crore, translating to a 33 per cent realisation rate. Infrastructure development recorded investments of ₹0.085 lakh crore against promised investments of ₹0.45 lakh crore, achieving a 19 per cent conversion, he said.
Patil attributed the steady progress to the State government’s digital and policy-driven reforms aimed at accelerating industrial clearances. “We are not stopping at the stage of signing MoUs. Once an investment proposal is submitted, all approvals — including land allotment, statutory clearances and departmental permissions — are being provided through a fully digital single-window system,” he said.
He explained that the single-window platform integrates more than 150 services across over 30 departments, significantly reducing delays. As a result, sectors such as manufacturing, ESDM (Electronic System Design and Manufacturing), semiconductors and food processing are witnessing faster conversion of proposals into real investments.
Over the past year, Karnataka has emerged as a more industry-friendly State, with quicker implementation of investment proposals, Patil said. Nearly 50 per cent of all investment proposals and around 60 per cent of manufacturing-sector proposals have been submitted through the Karnataka Udyog Mitra platform. This, he added, reflects the success of the State’s restructured industrial policy and institutional reforms. “We are ensuring that no project remains confined to paperwork. Every viable proposal is being taken to its logical conclusion,” he said.
Highlighting key proposals in the manufacturing and advanced technology sectors, Patil said Siflex has submitted a ₹9,300 crore proposal to establish a facility for manufacturing silicon components critical to the semiconductor industry. MV Energy has proposed an investment of ₹5,495 crore to expand solar cell and module manufacturing at the ITIR region near Bengaluru. Jindal Steels has proposed a ₹7,000 crore electrical steel manufacturing unit in Vijayanagar district.
In the cement sector, UltraTech Cement has proposed an investment of ₹4,819 crore to set up a manufacturing unit in Kalaburagi district. Dalmia Cement has submitted proposals worth ₹3,000 crore for a unit at Yadawad in Belagavi district, along with an additional ₹3,020 crore for expansion.
In renewable energy and allied sectors, Tata Power has proposed investments of ₹8,134 crore, while Suzlon Energy Limited has submitted proposals worth ₹12,032 crore in Vijayapura district. Volvo has proposed ₹1,251 crore for expansion of its Hoskote facility.
Consumer goods and technology firms have also shown strong interest. Havells India has proposed an investment of ₹710 crore in Tumakuru district to expand manufacturing and establish a new research and development centre. Balaji Wafers has proposed ₹550 crore, ASM Technologies ₹490 crore, and several other companies have submitted investment proposals through Karnataka Udyog Mitra, the minister said.
In the aerospace, defence and medical devices sectors, TJDMO India has proposed ₹58 crore for manufacturing medical and sanitary equipment. Tata Advanced Systems Limited (TASL) has proposed a ₹500 crore facility at Vemagal in Kolar district to manufacture components for the Airbus H125 helicopter. Safran Electronics has proposed ₹250 crore for avionics and defence equipment manufacturing.
Patil said the strong investment pipeline and the pace of implementation would be showcased at the Davos summit, where Karnataka aims to attract further high-value investments and reinforce its position as a preferred industrial destination.