Pramesh S Jain & Dr B Thomas (Special correspondent)
C
hief Minister’s Shri Basavaraj Bommai Media Conference on World Economic Forum Meet, Davos-2022.
Highlights
1. World Economic Forum Meet-2002 was held successfully at Davos from May 23 to 26.
2. Talks were held with many global corporate honchos to draw investments to Karnataka.
3. Two major companies have inked MoUs with the government of Karnataka to invest a total Rs52,000 Cr.
4. Karnataka is in the forefront in attracting investments and the WEF Meet has proved a success for Karnataka.
5. This is the biggest investment flow the State is registering in the recent past.
6. The investments are a proof of immense trust and faith Karnataka enjoys among the top corporates of the world.
7. ReNew Power Pvt. Ltd, has signed an MoU for an investment of Rs50,000 cr spread over the next 7 years for setting up Renewable Energy, Battery Storage, Green Hydrogen units with employment opportunities for about 30,000 persons.
8. The company intends to implement the projects in two phases. In the first phase the projects which are already under implementation would be operationalised within 2 years with an investment of Rs11,900 cr.
9. In the second phase Renewable Energy and Green Hydrogen units would be set up over the next 5 years with an investment of Rs37,500 cr.
10. Lulu Group International has inked an MoU for investing Rs2000 cr. The company is keen to open 4 shopping malls, Hyper Market and export oriented agro-products stores in the state with employment potential for more than 10,000 persons.
11. These MoUs complement the growth of industrial and energy sectors in the state providing employment for more than 40,000 persons.
12. Apart from these, many more companies have evinced keen interest to invest in the state.
13. Jubilant Group, Hitachi Energy, Siemens, Ab Inbev, Dassault Systems, Nestle, ArcelorMittal, Bharti Enterprises are among the prominent companies which have assured to invest in the coming years.
14. Jubilant Group: The Jubilant Food Works has decided to set up its new Centralised Kitchen and Jubilant Biosys has agreed to set up its R & D Centre in Devanahalli in a 10 acre plot. About 9000 persons are already employed in the company.
15. A detailed presentation has also been made for the company to convince about attractive incentive packages to invest in Pharma and FMCG sectors in the State with major focus on the FMCG Park being developed in Dharwad.
16. Hitachi Energy: Shown interest in setting up EV Charging infrastructure, Renewable Energy and Digitalisation projects.
17. Siemens Healthineers: It is undertaking R & D in healthcare projects focussing on Magnetic Imaging and Diagnostics with an investment of Rs1300 cr.
18. State government has assured special incentives for setting up advanced manufacturing of medical devices to cater to the local market with an investment of Rs300 cr. Thus the company is keen to invest a total of over Rs1,600 cr in the state.
19. Under the Beyond Bengaluru programme the State government discussed investment opportunities in cities like Tumakuru, Hubli-Dharwad, Mysuru.
20. Ab InBev: Intends to set up a non-alcoholic beverages unit in the state with an investment of Rs50 cr.
21. Nestle: Set to expand and modernise its existing Instant Coffee unit in Nanjangud with an investment of Rs700 cr.
22. Dassault Systems: Has evinced interest to invest in Electric Vehicles, Modern Production systems in association with CMTI, industrial training for students in Digital 4.0 technology and Smart City project in Karnataka with total investments of Rs300cr.
23. Schneider Electric: Is planning to consolidate their 5-6 facilities in Attibele to a single unit in Jigani with additional capacity for manufacturing new models of Data Centre UPS and energy efficient devices with an investment of Rs 300 Cr.
24. ArcelorMittal: Plans to set up Solar-Wind Hybrid project with an investment of Rs6000 cr.
25. Bharti Enterprises: Plans to set up a Mega Data Centre in Karnataka in addition to their existing Data Centres.
26. Apart from these, Adani Group, Dalmia Cement, Johnson Controls, Honeywell, IBM, Ikea Stores, PayPal, Axis Bank have shown interest to invest in various sectors of the State.
27. Heads of major multinational corporations and prominent non-resident Indian entrepreneurs participated in the breakfast meeting hosted by Chief Minister Basavaraj Bommai at Davos.They included Founder of Indiaspora in the USA,M R Rangaswami,Chairman of Indorama Corporation in Singapore Prakash Lohia,Managing Director of Hitachi Japan Bharat Kaul,Chairman of VPS Healthcare in UAE Shamsheer Valayil.
28. Discussions with these corporate honchos included opportunities for setting up Mega Textiles Park at Bijapur/Kalaburagi, production of Metro Train Coaches, Pharma units.
29. The CM also held deliberations with the head of Isha Foundation Sadguru Vasudev on State government’s initiatives for conservation of environment and soil fertility.
30. The State government has succeeded in drawing total investments of Rs59,350 cr with its participation at WEF Meet in Davos.
Major corporates commit to invest Rs65,000 cr in the State: CM Bommai
Companies have come forward in a big way to invest in Karnataka.The corporates have expressed their commitment to invest a total of about Rs.65,000 Cr.
It is a result of the State government’s progressive policies and incentives for industrialisation of the State,Chief Minister Basavaraj Bommai said.
The conducive ecosystem for investments, forward looking policies,technology,availability of skilled human resources,R&D base,incentives for entrepreneurs,availability of land have enabled Karnataka to gain the confidence and trust of the investors,Bommai said.
The Chief Minister was addressing a media conference on his return from the World Economic Forum Meet-2022 held in Davos.
Karnataka is in the forefront in attracting investments.The WEF Meet has proved a success for Karnataka as investment commitments to the tune of Rs.65,000 has been received during the Meet as talks were held with over 25 major corporates of the world in various sectors.
The world is looking at India as a major economic power.The companies have evinced interest to invest in Hydropower,Aerospace, Renewable Energy and other sectors.
Focussed sessions were held on Climate Change and Renewable Energy,Bommai said.
Karnataka is playing a major role in post-Covid economic recovery.
The investment commitments expressed during the meet would be turned into reality by offering them good infrastructure,simplified procedures and policies that raise the level of Ease of Doing Business,Bommai said.
ReNew Power Pvt Ltd has signed an MoU to invest Rs.50,000 cr over next 7 years.The company is keen to set up its production units for Renewable Energy,Battery Storage and Green Hydrogen.The proposals would provide employment for about 30,000 persons,Bommai said.
Lulu Group International has inked an MoU for investing Rs.2000 cr.The company is keen to open 4 shopping malls, Hyper Market and export oriented agro-products stores in the state with employment potential for more than 10,000 persons.
Jubilant Group,Hitachi Energy,Siemens,Ab Inbev, Dassault Systems,Nestle,ArcelorMittal,Bharti Enterprises are among the prominent companies which have assured to invest in the coming years.
Apart from these,Adani Group,Dalmia Cement, Johnson Controls,Honeywell,IBM,Ikea Stores, PayPal,Axis Bank have shown interest to invest in various sectors of the State.
The Axis bank has been requested to be the Anchor Bank for Sthree Shakthi Self Help Groups to provide loan and other services and join hands with the State government in its programme for economic empowerment of women,Bommai said.
We have invited captains of industry from all over the world and global corporate honchos for the Global Investors’ Meet and Bengaluru Tech Summit to be held in Bengaluru in November,” Bommai said.
The infrastructure bottlenecks of the city would be fixed by November and a Task Force has been constituted for the purpose.
The State government has granted Rs6000 cr under the Nagarothana Project to improve the infrastructure of Bengaluru and works would be completed in 18 months,Bommai said replying to a question.
