As the 'Invest Karnataka' summit came to a close, Minister of Large and Medium Scale Industries M.B Patil announced that the summit got a commitment of Rs 10.27 lakh crore worth investment. As per Patil, 75 per cent of these investments are for outside Bengaluru and more than 45 per cent are in North Karnataka.
Patil said the investments were in different sectors and the major share is contributed by renewable energy followed by manufacturing core, sunrise sectors, infrastructure and industrial and logistics park and general manufacturing and start-up capital.
As per Patil, JSW Group with an investment (of Rs 1,20,000 crore) across renewable energy, cement and steel, Baldota Steel and Power Limited (Rs 54,000 crores) for an integrated steel plant, LAM Research (Rs 10,000 crores) for semiconductor manufacturing and the Volvo Group (Rs 1,400 crore) for manufacturing EV trucks were some of the major investments bagged by the state during the summit. Other major companies that have announced investments include Safran, Honda, Schneider Electric, and Hitachi Energy.
Besides these, there were 10 KWIN MoUs signed with both domestic and international universities including MoUs with St John’s University from New York.
During the summit, the government of Karnataka also launched the New Industrial Policy 2025-2030 which aims to create 20 lakh jobs and attract investment worth Rs 7.5 lakh crore. This policy includes flexible subsidy options allowing industries to choose between Production-linked Incentives (PLI) and capital subsidies. It also facilitates incentives for co-locating R&D and manufacturing units.
The state government also announced a single window system—a digital-first platform—to streamline investment approvals and improve ease of doing business. As part of the summit, the state also launched a clean mobility policy 2025-2030 with an aim to attract Rs 50,000 crore in investment across the clean mobility value chain with the potential to generate one lakh new jobs. The policy also includes capital subsidies for fast charging stations, battery swapping networks and hydrogen stations to ensure clean energy.