Invest Karnataka Conclave-2022 attracted investment proposals of ₹5,41,369 crore: State Minister

Karnataka Minister MB Patil announced on Friday that the 'Invest Karnataka Conclave-2022' had attracted investment proposals worth ₹5,41,369 crore.

Updated on: Dec 9, 2023, 15:49:27 IST

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Karnataka Large and Medium Industries Minister MB Patil announced on Friday that the 'Invest Karnataka Conclave-2022' had attracted investment proposals worth ₹5,41,369 crore.

Karnataka Congress leader MB Patil. (File Photo)

Responding to questions raised by Holalkere MLA M. Chandrappa during the legislative assembly session at Suvarna Soudha, he mentioned that the government had signed memorandums of understanding (MoUs) with 57 companies regarding the above-mentioned proposals.

Referring to the Hubballi FMCG Conclave, he stated that the event had facilitated MoUs with 16 companies, showcasing investment proposals amounting to Rs. 1,275 crore.

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Minister Patil explained that among the total proposals, the green hydrogen sector accounted for 38%, and the renewable energy sector accounted for 35%.

Additionally, he mentioned that these proposals usually take 3-4 years to materialize, and the department would work diligently to materialize all the proposals.

Furthermore, he informed that as of now, 7 projects proposed during the Invest Karnataka Conclave-2022 and 3 projects proposed at the Hubballi FMCG Conclave have been approved by the State Level Single Window Agency (SLSWA).

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Patil also revealed that the government spent Rs. 74.99 crore for the Investment Karnataka Conclave-2022 and Rs. 12.23 lakh for the Hubballi FMCG Conclave.

According to regulations, industries receiving government incentives should ensure 100% employment for Kannadigas in 'D' category jobs and 70% employment in all job categories, he clarified.

In response to Chandrappa's mention of Toyota Company in Bidadi having dues of around Rs. 8500 crore to pay to the government, the Minister stated that he was not aware of any such dues. He assured that the matter would be verified, and necessary steps would be taken accordingly.

ABOUT THE AUTHOR
Yamini C S
Yamini CS is a Senior Content Producer at Hindustan Times with nearly six years of experience in digital journalism. She is part of the India News desk, where she works on a wide range of stories cutting across civic issues, city-based developments, politics, governance, public policy, breaking news, trending topics, and international affairs that have an impact on India. Her role involves tracking fast-moving developments, verifying information from official and on-ground sources, and presenting news in a clear, accessible format for a digital-first audience. A significant part of her work includes handling live blogs during major news events, such as elections, court verdicts, political developments, civic disruptions, protests, weather-related alerts, and unfolding national or international incidents. Through live coverage, she focuses on timely updates to help readers follow complex stories as they evolve. Before moving to the broader India News desk, Yamini was associated with the Bengaluru desk at Hindustan Times, where she extensively covered urban governance, infrastructure, traffic and transport issues, weather events, public grievances, and civic administration in the city. This experience strengthened her grounding in city reporting and sharpened her focus on citizen-centric journalism. She began her career as a correspondent with Reuters after completing a postgraduate diploma in journalism from the Indian Institute of Journalism and New Media. Her early training instilled a strong emphasis on accuracy, sourcing, and news ethics, which continue to shape her reporting style. Outside of work, Yamini enjoys reading across genres, listening to music, and spending time with her family, which help her maintain balance in a fast-paced newsroom environment.Read More