“The launch of the Industrial Policy 2024-29 highlights Karnataka’s focus on sustainable and inclusive development. The policy is designed to boost sunrise sectors like EVs, aerospace, and semiconductors and promote green practices like Zero Liquid Discharge (ZLD) and renewable energy.
“The soon to be launched AI-powered Single Window System will facilitate a seamless experience for investors by integrating land allocation tools, a grievance redressal mechanism, and application processes under one platform.”
This was stated by M. B. Patil, Minister for Large & Medium Industries and Infrastructure Development, Government of Karnataka, in conversation with Anoop Verma, Editor-News, ETGovernment. In the interview that follows, M. B. Patil sheds light on objectives of the Global Investors Meet (GIM) 2025 that the state government is organizing in February.
Edited excerpts:
The Government of Karnataka is organizing a Global Investors Meet in February. What are the key objectives that you hope to achieve through this event?
The Global Investors Meet (GIM) 2025, Karnataka’s flagship investment event, will be held from February 12 to February 14. The inauguration is on February 11, in the evening. With the theme of “Reimagining Growth,” GIM 2025 aims to drive tech-driven, green, inclusive, and resilient development. This platform will showcase Karnataka’s capabilities, attract global investments, and foster partnerships across various industries, from aerospace and defense to biotechnology and future mobility.
Building upon the shared vision of sustainable growth and innovation, the event will host more than 50 speakers, over 30 sessions, and over 5000 guests representing diverse industries and sectors from around the world. One of the key attractions at the event will be the Future of Innovation Expo, which will showcase the cutting-edge advancements in mobility, defense, biotechnology, precision manufacturing and R&D. Platforms like SME Connect and VentuRISE Global Startup Challenge will empower small enterprises and startups, fostering innovation and partnerships.
Through the Global Investors Meet, how are you planning to attract domestic and international investors?
The purpose of the event is to attract investments for driving sustainable growth and innovation in the state. Karnataka is targeting to reinforce its position as a global leader in industrial and economic development. The investments aim to span across strategic sectors like aerospace, renewable energy, ESDM, and advanced manufacturing. Some of the major investors in the state include names like Toyota Kirloskar, JSW Energy, Hero Future Energies, Exide, Foxconn, Air India.
The event will have pavilions from several countries and we hope to build global partnerships to foster an exchange of ideas, innovation, and technology while showcasing Karnataka’s infrastructure and capabilities as an investment destination. More than 2,000 SMEs have received training in Industry 4.0 technologies, enabling them to adopt digital transformation and enhance productivity. The focus will include workshops on e-commerce, digital tools, and IoT for SMEs. Additionally, the target is to assist at least 100 SMEs in Industry 4.0 implementation.
How is the State Government of Karnataka working to achieve sustainable and inclusive development while driving innovation and industrial activity?
The launch of the Industrial Policy 2024-29 highlights the state’s focus on sustainable and inclusive development. These policies are designed to boost sunrise sectors like EVs, aerospace, and semiconductors and promote green practices like Zero Liquid Discharge (ZLD) and renewable energy. The soon to be launched AI-powered Single Window System will facilitate a seamless experience for investors by integrating land allocation tools, a grievance redressal mechanism, and application processes under one platform. Features like multi-lingual AI chatbots and GIS-based tools will support investor decision-making.
A dedicated SME Connect portal that has already been launched leverages AI-driven algorithms to connect SMEs with the right partners, buyers, and investors. It will also facilitate participation in buyer-seller meetings, exhibitions, and technical workshops. Success Story Booklet aims to highlight Karnataka’s accomplishments across sectors like aerospace, biotech, and renewable energy. It will showcase success stories of both multinational companies and local startups, positioning the state as a hub of innovation and industrial excellence.
The Future of Innovation Expo focusing on cutting-edge advancements in mobility, healthcare, R&D, and precision manufacturing will provide attendees with a glimpse of Karnataka’s technological prowess. VentuRISE Global Startup Challenge, as part of the startup-focused initiatives, will engage startups in manufacturing and green technologies, offering exposure, funding opportunities, and collaboration with global experts.
What initiatives are being taken to support SMEs through Invest Karnataka 2025?
As part of the ‘Global Investors Meet: Invest Karnataka 2025‘, we have launched SME Connect, a comprehensive initiative aimed at empowering small and medium enterprises (SMEs) across Karnataka. This program is designed to address critical challenges faced by SMEs and equip them with the tools and opportunities needed for growth and success.
SME Connect has a dedicated digital platform to connect MSMEs with buyers, investors, and policymakers. It facilitates AI-powered matchmaking through buyer-seller meetings and vendor development programs, integrating SMEs into larger supply chains. It addresses challenges like limited market access, financial constraints, and technological gaps by offering essential resources, expert guidance, and industry engagement opportunities.
In partnership with NASSCOM and K-Tech, Industry 4.0 Training Sessions training programs have been designed to help MSMEs adopt digital transformation and advanced manufacturing technologies. These training sessions equip SMEs with skills to stay competitive in a rapidly evolving industrial landscape. They promote adoption of smart technologies to streamline operations and enhance productivity.
At GIM 2025, there will be a dedicated space for SMEs to exhibit their products and services to potential buyers and investors, increasing visibility and fostering collaborations with larger enterprises. They will be able to engage directly with global stakeholders, opening doors for partnerships and market expansion. Through SME Connect, we aim to strengthen Karnataka’s vibrant SME ecosystem, fostering innovation, collaboration, and growth. This initiative underscores our commitment to enabling SMEs to thrive in a competitive global economy, driving inclusive and sustainable development across the state.
The state has conducted roadshows in several countries. What kind of response are you having from investors? How has Karnataka’s economic performance been in recent years?
Karnataka is among the top-performing states in India. The economic growth in the state is being driven through a combination of innovative policies, infrastructure development, and strategic investments. The state has solidified its position as a global hub for technology, manufacturing, and sustainability, supported by key initiatives that have shaped its economic trajectory in recent years.
The investment climate in the state is looking up. Karnataka has successfully attracted significant global investments, including commitments worth $3 billion through roadshows in Japan, South Korea, and the USA. Strategic partnerships with companies like Foxconn, Exide, and Toyota Kirloskar have further strengthened the state’s industrial base across sectors such as aerospace, semiconductors, and green energy.
You mentioned Karnataka’s Industrial Policy earlier. What are the focus areas for the state’s Industrial Policy?
The Industrial Policy 2024-2029 focuses on sustainable and inclusive growth, offering zone-based incentives to encourage investments in Tier 2 and Tier 3 cities. This approach has accelerated regional development and distributed economic opportunities beyond Bengaluru. Dedicated industrial clusters, such as the aerospace cluster in Devanahalli and the electronics manufacturing cluster in Dharwad, have been established to boost sector-specific growth.
Karnataka accounts for over 40% of India’s unicorns, showcasing its dominance in the startup ecosystem. The state has invested heavily in building a robust R&D ecosystem, supported by over 400 Global Capability Centers (GCCs) and partnerships with institutions like IISc and IIT. Karnataka’s commitment to infrastructure upgrades, such as the Bangalore-Chennai Industrial Corridor and Knowledge, Well-being, and Innovation City (KWIN City), ensures sustained economic competitiveness.
What are some of the major investments that Karnataka has recently secured?
Since April 2023, Karnataka has attracted over ₹1.15 lakh crore in investments, highlighting its position as a preferred destination for global and domestic enterprises. Some of the marquee investments include Foxconn’s ₹22,000 crore investment for establishing an iPhone assembly unit on a 300-acre site.
JSW Energy is investing ₹4,960 crore for a 600 MW captive wind power generation plant. Toyota Kirloskar is investing ₹3,700 crore for the expansion of manufacturing facilities and related operations. Exide is investing ₹4000 crore for setting up Gigafactory. Hero Future Energies is investing ₹11,000 crore across projects in renewable energy, Green hydrogen and its derivatives.
Air India is investing ₹1,750 crore for setting up a state-of-the-art MRO (Maintenance, Repair, and Overhaul) facility. In addition to all this, Karnataka will be announcing some major new investments during GIM. We have a robust pipeline of investment leads exceeding ₹1 lakh crore, spanning various high-growth sectors, further strengthening the state’s industrial ecosystem.
