Published On:September 16 2022
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Karnataka signs ₹1.3-lakh crore investment MoUs in renewable energy: Basavaraj Bommai.

Karnataka signs ₹1.3-lakh crore investment MoUs in renewable energy: Basavaraj Bommai.

The Chief Minister of Karnataka, Basavaraj Bommai, recently announced that the State had signed memoranda of understanding worth ₹1.3-lakh crore in the renewable energy space.

The CM was speaking at the inauguration of the fifth edition of the Indian Manufacturing Show (IMS). He said, “To boost industrial growth, more industries need to be set up all along the Karnataka stretch of the Mumbai-Chennai corridor. Additionally, the government is building industrial parks at Gulbarga, Yadgir, and Mysuru, and renewable energy will come along the seashore.”

The CM urged the industries to make the most of the industrial ecosystem provided by Karnataka and contribute to the State, which aims to be a $1-trillion economy by 2025, and henceforth contribute to making India a $5-trillion economy by 2025. “Karnataka recognises the entrepreneurship, capital investment, and R&D brought by the industries, we have policies which are 100 per cent industrial friendly, and in my budget, I have given enough scope for industrial growth in my budget,” said the CM.

According to Murugesh Nirani, the Karnataka Minister of Large and Medium Industries, there are about 400 research and development centres in and around Bengaluru, and of the 500 Fortune-500 businesses, more than 400 are located in Karnataka.

With the goal of making India the manufacturing hub, the new edition of IMS will provide a platform for big and small companies from five sectors to showcase their latest technology. The five sectors include aerospace and defence; automation, robotics, and drones; electrical and electronics; general engineering and energy environment; and EV transportation.

More than 400 exhibitors, 20,000 corporate delegates, and 150 national and international experts will attend the three-day event hosted by Laghu Udyog Bharati and IMS Foundation.


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