BENGALURU, 9 FEB

Karnataka is poised to attract investment commitments of approximately Rs 10 lakh crore from a diverse range of industries during its biennial investor meet, scheduled for February 11-14 in Bengaluru. MB Patil, Minister for Large and Medium Scale Industries, expressed optimism about the outcome, anticipating that at least 70 percent of these commitments will materialise.

Titled "Invest Karnataka 2025 – Global Investors Meet (GIM 2025)," the event aims to establish the state as a leading global investment hub. The theme, "Re-Imagining Growth," reflects the current global focus on tech-driven, green, and resilient development amidst challenges such as geopolitical strife in Ukraine and Israel, shifting policies in the US, and the aftermath of the pandemic.

Patil highlighted the increasing importance of electric vehicles and green hydrogen, stating that fossil fuels will gradually be phased out, necessitating adaptive strategies for sustainable economic growth. The inaugural session of the summit will feature the Chief Minister Siddaramaiah and Union Defence Minister Rajnath Singh, with participation from various central ministers.

The investor meet will include business sessions, such as a semiconductor summit on 12 February, as well as an award function recognising industries that have significantly contributed to Karnataka's growth. Participating countries will include 19 nations, with nine having dedicated pavilions.

Karnataka has established itself as a leader in sectors like IT, biotechnology, and aerospace, and the state intends to maintain its competitive edge globally. To facilitate investment, the government is implementing a flexible industrial policy that offers incentives based on investor preferences and fosters sustainability.