Karnataka is Committed to Fostering Innovation-Driven Growth Across Industries: M.B. Patil
Chennai, November 25, 2024: The Government of Karnataka, led by Shri M.B. Patil, Hon'ble Minister for Large and Medium Industries, concluded a series of impactful meetings on Monday with industry leaders during his visit to Chennai. These discussions aimed to explore investment opportunities, foster strategic partnerships, and strengthen Karnataka’s position as a hub for innovation-driven industries.Key industry participants included senior representatives from companies such as Swelect, Visteon, MacDermid Alpha, Syrma SGS, Salcomp, Amphenol, Nokia, Tube Investments of India Limited, EID Parry, TAFE, Rane Group, Sanmar Group, Ashok Leyland, and Wheels India Limited. The meetings focused on fostering investment and expansion opportunities in Karnataka and invited participation in the upcoming Invest Karnataka 2025 Global Investors' Meet.
Key Discussion Areas
Electronics System Design and Manufacturing (ESDM):
Leaders from the ESDM sector emphasized the need for creating a robust ecosystem in Karnataka, focusing on PCB manufacturing and display technologies. The government highlighted the ongoing development of the Kochenahalli ESDM cluster in Mysuru as an ideal location for these investments. Skill development initiatives tailored to the sector’s needs were also discussed to support its rapid expansion.
Pharma and Chemicals:
Tube Investments and Sanmar Group shared plans to expand operations in high-growth sectors such as pharmaceuticals and chemicals. Karnataka’s proposed pharma cluster near Bengaluru, equipped with centralized Effluent Treatment Plants (ETPs), was presented as a significant opportunity for these industries.
Electric Vehicles (EVs):
Discussions with Ashok Leyland focused on investments in EV manufacturing, including battery production and alternative fuel R&D. Karnataka’s EV-friendly policies and infrastructure support were highlighted as enablers for the company’s ambitious growth plans.
Automotive and Aerospace:
Companies such as TAFE and Sanmar Group emphasized the need for innovation-driven collaboration in the automotive and aerospace sectors. The government proposed strategic locations, including Dharwad and Adhinarayanahosahalli, for expansions in these industries, citing logistical and operational advantages.
Talent Retention and Social Infrastructure:
Several leaders underscored the importance of creating conducive environments for talent retention. Suggestions included developing industrial townships with robust social amenities such as schools and hospitals to attract and sustain a skilled workforce.
The meetings reaffirmed Karnataka’s commitment to providing tailored support to industries, including assistance with ideation, approvals, and infrastructure readiness. Companies such as Rane Group and Wheels India expressed strong interest in expanding their operations in Karnataka, with Rane proposing a substantial investment of over ₹1,000 crore.
The roadshow in Chennai not only strengthened Karnataka’s industrial partnerships but also paved the way for meaningful collaborations at Invest Karnataka 2025. The government’s efforts are poised to drive sustainable development and position Karnataka as a leader in India’s economic growth trajectory.
Shri Selvakumar S, IAS, Principal Secretary, Department of Commerce and Industries, and Smt Gunjan Krishna, IAS, Commissioner for Industrial Development and Director, Department of Commerce and Industries and were also present during the discussions.
