65% of manufacturing investment commitments at 2025 GIM converted: Patil | India Business News
Bengaluru: Around 65% of the manufacturing investment commitments secured at Karnataka’s 2025 Global Investors Meet have been converted into projects, large and medium industries minister M B Patil said on Thursday.Speaking at the curtain-raiser for the 2027 edition of Global Investors Meet in Bengaluru, Patil said the previous edition had attracted investment commitments of Rs 10.3 lakh crore across sectors. The next meet will be held at Bangalore Palace from April 20 to 22.He said cl. Land had also been allotted to companies such as Lam Research and Applied Materials, he said.Chief minister D K Shivakumar said the state’s power expansion plans would require investments of more than Rs 3 lakh crore over the next five years. He reiterated the govt’s plan to invest over Rs 1.5 lakh crore in Bengaluru’s infrastructure, including mobility and water projects, and said efforts were under way to resolve delays faced by investors.Patil said the state would organise a dedicated investors’ conclave for North Karnataka in the coming months, apart from domestic and international roadshows ahead of the global meet.“We want this region to attract investment at a scale it has never seen before,” he said.He said the govt had acted on more than 35 of the 55 suggestions made during consultations with industry. Measures to facilitate investments included a digital industrial land bank, dedicated officers to assist investors and affidavit-based clearances that allow eligible investors to begin work while approvals are being processed.Deputy chief minister G Parameshwara said 147 industrial projects involving investments of Rs 6,826 crore had received approvals this week. Of these, 131 were proposed outside Bengaluru Urban and Bengaluru Rural districts. He also pitched Tumakuru as a manufacturing destination, citing its proximity to Bengaluru’s talent pool, availability of land and industrial infrastructure.Policy initiatives highlighted at the event included support for the aerospace and defence sectors, additional capital subsidies for emerging industries in industrially backward regions and housing for workers near factories.Plans for the 2027 meet include a supplier event to connect manufacturers with potential suppliers, country-specific roundtables and the third edition of Venturise, the startup-focused event.
Source: timesofindia.indiatimes.com