Bengaluru: Karnataka has given the nod to 62 industrial investment proposals, collectively valued at Rs 3,607.19 crore, with the potential to create 10,755 jobs within the state. The State Level Single Window Clearance Committee (SLSWCC) gave the green light to eight projects with a combined investment of Rs 2,088.44 crore, promising the generation of 6,360 jobs.
Among the prominent contributors to this economic boost are Texcon Steels, Hundri Sugars and Ethanol, Bren Life Sciences, Alpine Ethanol, Virupaksha Laboratories, and Qualcomm India.
Notably, 51 of the 62 investment proposals fall in the range of Rs 15 crore to Rs 50 crore, totalling Rs 941.40 crore, and hold the potential to generate 4,395 jobs. Additionally, three projects, backed by an extra investment of Rs 577.35 crore, have also received the committee’s approval.
The memorandum of understanding (MoU) for these investments was formalised at the 26th Bengaluru Tech Summit (BTS) 2023. The inauguration of the summit was graced by Priyank Kharge, Minister of Information Technology & Biotechnology, Rural Development & Panchayat Raj.
Key players committing substantial investments include Texcon Steels (Rs 480 crore), Hundri Sugars and Ethanol Private (Rs 476.54 crore), Bren Life Sciences and others (Rs 230.56 crore), Alpine Ethanol (Rs 229.19 crore), Virupaksha Laboratories (Rs 212.55 crore), Qualcomm India (Rs 175 crore), LRB Wood Industry (Rs 102.50 crore), and Matha Industries (Rs 102.1 crore).
Kharge expressed the state’s ambition, stating, “We are looking to build Karnataka as an investor destination, startup hub, innovation capital, resource destination, and manufacturing hub.” Karnataka, already contributing 42 percent to India’s information technology exports and hosting one-third of the nation’s technology talent, aims to solidify its position further.
Notable attendees at the summit included Vandita Sharma, Chief Secretary of Karnataka, and Bagdat Mussin, Minister of Digital Development, Innovations, and Aerospace Industry of Kazakhstan.
