MB Patil disclosed investments totaling Rs 22,000 crores for state

Investments to foster job creation and capital infusion in state

MOU signed with Web Werks India Pvt Ltd for a ₹20,000 crore investment

At the World Economic Forum in Davos, Karnataka’s Minister for Commerce & Industries, MB Patil, disclosed substantial investments totaling Rs 22,000 crores for the state.

The minister emphasized the success of the trip, aimed at fostering job creation and capital infusion. Karnataka, a global competitor, is renowned for Bengaluru, its Silicon Valley, and is actively participating in diverse sectors such as electronic design and clean mobility.

Noteworthy companies, including ABInBev and NTT, have inked significant deals. ABInBev is set to invest ₹400 crores for production expansion, while NTT has committed USD 900 million with an additional USD 2 billion in the pipeline.

HP plans to create 4,000 jobs and establish two fully equipped offices in Bengaluru. Petronas (Genatri) aims to generate 30 gigawatts of clean energy by year-end. Other prominent investors include Cisco in cybersecurity, Swiggy in urban traffic systems, and Volvo in electric vehicles.

A memorandum of understanding was signed with Web Werks India Pvt Ltd for a ₹20,000 crore investment in a new Data Centre Park in Bengaluru.

Minister Patil expressed confidence in Karnataka’s global competitiveness in attracting investments due to its demographic capital and abundant resources.