Karnataka eyes ₹5 lakh crore investment at Global Investor Meet next month

The Karnataka government expects over ₹5 lakh crore investment during the Global Investors Meet 2022 to be held next month in Bengaluru, state's large and medium industries minister Murugesh R Nirani said on Tuesday.

Published on: Oct 12, 2022, 10:06:55 IST

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The Karnataka government expects over ₹5 lakh crore investment during the Global Investors Meet 2022 to be held next month in Bengaluru, state's large and medium industries minister Murugesh R Nirani said on Tuesday.

Karnataka Minister for Large and Medium-scale Industries Dr. Murugesh R Nirani in Bengaluru last month. (ANI Photo) (Shashidhar Byrappa)

The global investors meet is scheduled on November 2-4 after a hiatus of six years.

"The state is expecting over ₹5 lakh crore in investments in the Global Investors Meet 2022," Nirani said at the launch of a roadshow in the national capital to promote Karnataka as an investment destination.

READ | CM Bommai invites Global Business leaders to invest in Karnataka

The minister said the state government has already earmarked a total of 50,000 acres of land for investors keen to invest in the state, of which, 20,000 acres are in Bengaluru and 30,000 acres in other parts of Karnataka.

Karnataka has emerged as a top investment destination in the country for the last two years in a row as the state offers an excellent industrial ecosystem, world-class infrastructure, and industry-friendly policies, he said.

The state attracted ₹62,085 crore investments last fiscal and became the recipient of 38 per cent of the country's total FDIs (Foreign Direct Investments), he added.

READ | Industry leaders ask Karnataka govt to identify list of 100 firms for attracting to state

Speaking at the event, Union Minister of State for Chemicals, Fertilizers and Renewable Energy Bhagwanth Khuba, who hails from Karnataka, said: "A strong fiscal and stable policy is key for investment and it is clearly there in the state."

E V Ramana Reddy, Additional Chief Secretary (Commerce and Industries) in the Karnataka government, said several meetings were held with representatives of top companies in the national capital looking for collaboration opportunities.

During the one-day roadshow at New Delhi, the delegation met the representatives of ITC, Scape India, Renew Power, Sembcorp Energy, Lithion Power, Dalmia Cement, Sterling Tools, Nestle, Jubliant Food Works, Garuda Aerospace, Ocean Pearl Hotels, V- Guard Industries and Nithin Sai Renewable.

Commissioner for Industrial Development in Karnataka Gunjan Krishna, ITC Vice President Corporate Affairs Anil Rajput, Jubliant Food Works Vice President Amardeep Ahuwalia and Shahi Exports Vice President J D Giri were present during the roadshow.

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

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