State minister MB Patil says sign investment pacts worth Rs 51,469 crore at Invest Karnataka conclave

Bengaluru: Karnataka has signed investment agreements worth Rs 51,469 crore at the Invest Karnataka conclave, state industries minister MB Patil said on Thursday.

The conclave brought together 48 multinational companies across aerospace, automotive, biotechnology and manufacturing sectors.

The investments are in addition to those announced at the Global Investors Meet and the Davos Summit and are the outcome of sustained efforts over the past two months, the minister said in a statement.


“These commitments are expected to generate around 70,000 jobs and further strengthen Karnataka’s position as a leading industrial and employment hub,” Patil said.

Companies plan to set up new facilities and expand existing operations in the state. Agreements were signed by company heads in the presence of the minister.

Memorandum of Understandings (MoUs) were signed with companies such as Bengaluru-based Axiscades, electric two-wheeler startup Ultraviolette, Kerala-based SFO Technologies and metallic aerospace components firm Mahindra Aerospace, among others.

The scale of investments reflects strong industry confidence in Karnataka’s policies, ease of doing business and skilled workforce, the minister said.

The government has eased zoning norms to improve industrial land availability, identified 20 special investment regions, and introduced a single-window system to streamline approvals, he added.