Jindal Group to invest Rs 1.2 lakh crore in Karnataka over five years: MB Patil

Bengaluru: The Jindal Group plans to invest Rs 1.2 lakh crore in Karnataka over the next five years, industries minister MB Patil said on Tuesday after meeting Jindal Group chairman Sajjan Jindal and joint managing director Jayant Acharya during a two-day investor roadshow in Mumbai.

The state is holding discussions with around 10 companies, including L&T, Bisleri, Raymond Lifestyle, Torque Semiconductors, Sanofi Healthcare, Magnum, Balu Forge and Max Aerospace, to attract investments across manufacturing, electronics, semiconductors, aerospace and consumer sectors, the minister said in a statement.

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He said the Jindal Group, which has been present in Karnataka for nearly three decades, has already invested around Rs 1.3 lakh crore in the state and has contributed to industrial development in the Ballari and Vijayanagara regions.

The government will provide necessary support for the company’s next phase of expansion, he added.

Bisleri is considering expanding its manufacturing capacity in Karnataka, which could create around 2,000 jobs.

The company has been encouraged to explore Vijayapura and Chamarajanagar districts for future investments due to their water availability. Raymond Lifestyle has been asked to consider Ballari or Vijayapura for jeans manufacturing, considering raw material availability and market potential, the statement said.

L&T is exploring opportunities in industrial robotics and is considering setting up a chip design facility in Bengaluru to serve global markets. The company has also discussed the possibility of establishing a research and innovation park for the electronics sector, with the state offering support for high-voltage testing and electronic testing facilities.

Torque Semiconductors has shown interest in investing in semiconductors, data centres and artificial intelligence sectors in Karnataka, and is also exploring the possibility of setting up a compound semiconductor fabrication plant in India. Packing manufacturer TCPL Packaging is looking at investments in the films and laminates segment in the state.

Patil said discussions with investors focused on increasing investments, manufacturing capacity, job creation, research and development, data centre development, and availability of land and water.

Principal secretary of the industries department S Selvakumar and industries commissioner Khushboo Goel were present during the meetings.