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Karnataka Chief Minister D.K. Shivakumar on Thursday announced that the state aims to attract investments worth Rs 7.5 lakh crore and generate 20 lakh jobs by 2030, as he unveiled preparations for the Global Investors Meet (GIM) 2027, scheduled to be held in Bengaluru from April 20 to 22.
The targets have been set under the state's Industrial Policy 202530, with Karnataka seeking investments in sectors such as semiconductors, aerospace, artificial intelligence, clean energy, life sciences and electric mobility. At the curtain-raiser event, the Chief Minister said Karnataka's economy grew by 8 per cent last year and attracted nearly USD 13 billion in foreign direct investment. The state is also home to more than 1,100 Global Capability Centres and contributes over 40 per cent of India's software exports, he said. The government is strengthening its investor facilitation mechanism through Karnataka Udyog Mitra and the Invest Karnataka Forum. Its Single Window System currently provides more than 150 services from over 30 departments on a common platform. Investors should build factories, not chase files. The entire government must stand with an investor, not just one department, Shivakumar said, adding that nodal officers would guide investors through approvals and clearances. Industries Minister M.B. Patil said investors had committed approximately Rs 10.27 lakh crore at the previous Global Investors Meet, with around 65 per cent of manufacturing investment commitments already converted into projects. The real measure of the success of an investors' meet is not the day the MoUs are signed, but the day the factories begin operations, Patil said. He added that investments by DN Solutions, Krones, Nidec and Foxconn had become operational, while projects by Lam Research, Applied Materials, Wipro Electronic Materials, Jindal Aluminium and Mahindra Aerospace were progressing. As part of preparations for the 2027 summit, the government launched the Aerospace and Defence Policy 202631 and the Karnataka Industrial Areas Development Board's Digital Industrial Land Bank. The third edition of VentuRISE was also launched. The Aerospace and Defence Policy targets Rs 60,000 crore in investments and 60,000 jobs, while the Textile and Apparel Policy 202631 aims to attract Rs 20,000 crore and generate five lakh jobs. The government also plans to organise a dedicated investors' conclave in North Karnataka to showcase opportunities in Kalyana Karnataka and Kittur Karnataka, as it seeks to expand industrial development beyond Bengaluru. (ANI)
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