Karnataka Government Approves Rs 18,430 Crore in Investment Proposals, Expected to Create 15,032 New Jobs
Karnataka Approves Rs 18,430.44 Crore Investment Proposals, Projected to Generate 15,032 Jobs
The Karnataka State High Level Clearance Committee (SHLCC) met on April 13 and approved investment proposals worth Rs 18,430.44 crore, with a projected employment of 15,032 people. The meeting, chaired by CM Siddaramaiah, was attended by senior ministers and officials, including deputy CM D K Shivakumar and Industries Minister MB Patil.
The committee cleared 17 proposals, comprising 11 new projects and six expansion or additional investment plans. The approvals span multiple districts and sectors, including automobiles, electric mobility, aerospace, semiconductors, pharmaceuticals, renewable energy, textiles, and metals.
New Investments
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The committee cleared 11 new investment proposals worth Rs 14,906.9 crore, expected to generate about 13,050 jobs across Karnataka. The projects are spread across Kolar, Chikkaballapura, Belagavi, Bengaluru Rural, Tumakuru, Dakshina Kannada, Ballari, Bidar, and Bengaluru.
| Project | Location | Investment (Rs Crore) | Projected Jobs |
|---|---|---|---|
| Volvo Group India Private Limited | Bengaluru Rural | 1,500 | 1,700 |
| River Mobility Private Limited | Kolar | 1,028 | 900 |
| Genx PV India Pvt Ltd | Chikkaballapura | 1,000 | 1,500 |
| Aerostructures Manufacturing India Private Limited | Belagavi | 1,356 | 1,350 |
| PMI Technology India Private Limited | Bengaluru | 1,000 | 800 |
| OneSource Specialty Pharma Limited | Bengaluru Rural | 700 | N/A |
| Sai Life Sciences Limited | Bidar | 900 | N/A |
| M11 Energy Transition Private Limited | Dakshina Kannada | 1,600 | N/A |
| JSW Vijayanagar Metallics Limited | Ballari | 4,600 | 300 |
Expansion Projects
SHLCC also approved six expansion and additional investment proposals worth Rs 3,523.54 crore, expected to generate 1,982 jobs. Among expansion projects, Wipro Global Engineering and Electronic Materials Private Limited will invest Rs 1,397 crore in Bengaluru Rural in the semiconductor space. Poddar Plumbing System Private Limited has proposed a Rs 266 crore expansion in Kolar, while Colortone Textiles Private Limited will invest Rs 355 crore in Chamarajanagara.
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| Project | Location | Investment (Rs Crore) | Projected Jobs |
|---|---|---|---|
| Wipro Global Engineering and Electronic Materials Private Limited | Bengaluru Rural | 1,397 | N/A |
| Poddar Plumbing System Private Limited | Kolar | 266 | N/A |
| Colortone Textiles Private Limited | Chamarajanagara | 355 | N/A |
| Goodrich Aerospace Services Private Limited | Bengaluru | 141.50 | N/A |
| MSPL Limited | Ballari | N/A | |
| Indian Cane Power Ltd | Bagalkote | N/A |
The state government said the investments are expected to strengthen Karnataka's industrial base and generate employment across districts.
Investor Takeaway
Investors should consider the potential growth opportunities in Karnataka's emerging sectors.
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