Speaking to the media upon his return from the summit, Patil noted that over 45 meetings and consultations held over five days positioned Karnataka as a preferred global hub for artificial intelligence, Global Capability Centres (GCCs), research, and sustainable urban development.
The discussions at Davos have not only set the stage for new investment opportunities but have also expedited ongoing projects, the minister mentioned, adding that international companies commended Karnataka’s pro-industry policies and the availability of a skilled workforce.
A significant portion of the commitments originated from the RP-Sanjiv Goenka Group, which plans to invest Rs 10,500 crore in the coming three years in Vijayapura and Ballari districts, significantly enhancing renewable energy initiatives in northern Karnataka.
Global brewer Carlsberg Group reconfirmed its intention to establish a Rs 350 crore bottling plant in Nanjangudu, while Schneider Electric has proposed investments amounting to Rs 1,520 crore, including in IT operations. INOX GFL, which has already committed Rs 10,000 crore to the state and initiated turbine blade production at Kushtagi, will invest an additional Rs 400 crore to manufacture wind power towers and solar panels.
Belrise Industries is set to invest Rs 300 crore to expand its Mysuru facility, supplying components to TVS Motor Co.
Patil indicated that discussions with the Singapore Economic Development Board focused on creating a ‘Singapore Park’ in Karnataka to draw Singaporean companies. The state is also aiming to capture a significant portion of Coca-Cola’s prospective Rs 25,760 crore investment in India.
Several international firms have shown interest in expanding their operations in Karnataka. Nokia, US-based Vast Space, UAE’s Crescent Enterprises, and Voyager Technologies have expressed intent to invest in the state, while Bharti Enterprises is eager to establish a new data centre, complementing its existing investments of about Rs 13,000 crore.
France-based Mistral AI has shown interest in setting up a phased research and development hub in Bengaluru, while US-based Philip Morris has signaled its intent to manufacture smoke-free products in Karnataka.
Bharat Forge Ltd is seeking information on investment opportunities, the minister stated.
Nokia is keen on establishing a Global Capability Centre and research facilities in the state. In line with the government’s strategy to develop self-sustaining urban centres outside Bengaluru, Tech Mahindra has expressed interest in broadening its activities in Tier-2 cities. Sify Technologies has announced plans to launch a data centre in Karnataka soon.
The state’s flagship ‘KWIN City’ project, planned between Dabaspet and Doddaballapur, has also garnered considerable interest. Imperial College London has suggested setting up a research and development centre in the city, while global cybersecurity company Cloudflare is considering involvement in the project.
US-based Voyager Technologies and space company Vast Space have shown interest in partnership agreements with the state government, while UAE’s Crescent Enterprises is exploring investments in various sectors throughout Karnataka. An MoU was signed at Davos to support Swiss companies looking to leverage the state’s innovation-driven ecosystem.
Patil remarked that the interactions at Davos would assist Karnataka in enhancing its competitive edge amid global industrial changes and fostering closer trade relations with major economies.
