Karnataka approved 62 Industrial Investment Projects Worth of Rs 3,607 Crore


Karnataka approved 62 Industrial Investment Projects Worth of Rs 3,607 Crore
The State Level Single Window Clearance Committee (SLSWCC) of Karnataka has approved 62 investment proposals that are expected to generate employment for 10,755 people in the state. These proposals are worth Rs 3,607.19 crore in total. Out of these, eight projects have been approved involving investment of Rs 2,088.44 crore, with the potential to create 6,360 jobs.
The list of top investors includes Texcon Steels, Hundri Sugars and Ethanol, Bren Life Sciences, Alpine Ethanol, Virupaksha Laboratories and Qualcomm India, among others. Out of 62 investment proposals, 51 are between 15 crore and 50 crore, amounting to a total of Rs 941.40 crore. These proposals have the potential of generating employment for 4,395 people. Additionally, three projects with an investment of Rs 577.35 crore were approved.
Companies that have committed investing in the state include Texcon Steels (Rs 480 crore), Hundri Sugars and Ethanol Private (Rs 476.54 crore), Bren Life Sciences (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).
A Memorandum of Understanding (MoU) was signed at the 26th Bengaluru Tech Summit (BTS) in 2023. The summit was inaugurated by Priyank Kharge, Minister of Information Technology & Biotechnology, and Rural Development & Panchayat Raj.
"We are looking to build Karnataka as an investor destination, startup hub, innovation capital, resource destination, and manufacturing hub", Kharge said. Karnataka contributes 42 percent of India’s information technology exports and it is home to one-third of India’s technology talent. India has received funding of $3.42 billion in the artificial intelligence sector. Vandita Sharma, chief secretary of Karnataka, and Bagdat Mussin, minister of digital development, innovations and aerospace industry of Kazakhstan, were among people who attended the summit.