BENGALURU: The Karnataka government on Thursday said several US companies have shown interest to invest around Rs 25000 crore in the state. Jointly address a press conference on the outcome of the visit of a business promotion delegation led by them to the US, by major and Medium Industries Minister MB Patil and Electronics & IT/BT Minister Priyank Kharge said some companies are already in the process of investing about $1 billion in the state.
A total of 36 interactive meetings took place during the visit, which stretched from the East Coast to the West Coast of the US.
“While some companies plan to start their operations here, others have proposed expanding their already existing operations. Our discussions mainly focused on semiconductors, aerospace and defense, electric vehicles, aerospace and precision manufacturing,” Patil said.
Discussions were held with leading companies such as Applied Materials, AMD, Juniper, Global Foundries, LAM Research, Boeing, Krypton, Dell, MKS Instruments, GE Healthcare, Intelsat, RTX, Teradyne, Texas Instruments, Apple and Waters Corp.
The delegation also met some promising startups such as Leolabs, Fictiv and T-Second.
Noting that the purpose of the US visit was to underline Karnataka’s status as a promising investment destination, Patil said the trip was necessary and important given the rapidly changing geopolitical dynamics as a large number of global companies are looking in India, especially Karnataka, as an attractive, safe destination for new investments or for expanding their existing presence.
“The delegation reassured the investors that Karnataka is an attractive and preferred destination with its industry-friendly policies, lucrative incentives, availability of technically skilled labor and abundant availability of natural resources,” he said.
The themes of the discussions with industry leaders were centered around joint skills initiatives, expanding the supplier base, strengthening the existing R&D ecosystem and collaborating on setting up Centers of Excellence with the state government.
“We have offered all possible support to the companies to invest in Karnataka and briefed the senior executives of global companies about the state’s ease of doing business, favorable policies, sectoral incentives and industrial infrastructure built in the state . Our main objective was to draw attention to Karnataka as an attractive investment destination,” said Patil.
Kharge said the purpose of the visit to the US was to attract investments at a time when not only China but also other states in the country are competing with each other to attract investors.
“We have come up with an innovation in our approach to reaching out to the investors and have gone to their doorsteps in the US to convince them of the opportunities of investing in Karnataka. The state government has partnered with AMD to train engineers based on the syllabus provided by the company to meet their human resource needs. AMD will hire 800 engineers in India,” he said.
Kharge also stated that the government would organize a global start-up summit in Bengaluru next year.
A total of 36 interactive meetings took place during the visit, which stretched from the East Coast to the West Coast of the US.
“While some companies plan to start their operations here, others have proposed expanding their already existing operations. Our discussions mainly focused on semiconductors, aerospace and defense, electric vehicles, aerospace and precision manufacturing,” Patil said.
Discussions were held with leading companies such as Applied Materials, AMD, Juniper, Global Foundries, LAM Research, Boeing, Krypton, Dell, MKS Instruments, GE Healthcare, Intelsat, RTX, Teradyne, Texas Instruments, Apple and Waters Corp.
The delegation also met some promising startups such as Leolabs, Fictiv and T-Second.
Noting that the purpose of the US visit was to underline Karnataka’s status as a promising investment destination, Patil said the trip was necessary and important given the rapidly changing geopolitical dynamics as a large number of global companies are looking in India, especially Karnataka, as an attractive, safe destination for new investments or for expanding their existing presence.
“The delegation reassured the investors that Karnataka is an attractive and preferred destination with its industry-friendly policies, lucrative incentives, availability of technically skilled labor and abundant availability of natural resources,” he said.
The themes of the discussions with industry leaders were centered around joint skills initiatives, expanding the supplier base, strengthening the existing R&D ecosystem and collaborating on setting up Centers of Excellence with the state government.
“We have offered all possible support to the companies to invest in Karnataka and briefed the senior executives of global companies about the state’s ease of doing business, favorable policies, sectoral incentives and industrial infrastructure built in the state . Our main objective was to draw attention to Karnataka as an attractive investment destination,” said Patil.
Kharge said the purpose of the visit to the US was to attract investments at a time when not only China but also other states in the country are competing with each other to attract investors.
“We have come up with an innovation in our approach to reaching out to the investors and have gone to their doorsteps in the US to convince them of the opportunities of investing in Karnataka. The state government has partnered with AMD to train engineers based on the syllabus provided by the company to meet their human resource needs. AMD will hire 800 engineers in India,” he said.
Kharge also stated that the government would organize a global start-up summit in Bengaluru next year.
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