Karnataka secures ₹13,070 cr investment commitments at Davos: MB Patil

Karnataka has translated its strong presence at the World Economic Forum (WEF) Annual Meeting in Davos into investment commitments worth ₹13,070 crore , reinforcing its position as one of India’s most attractive destinations for future-oriented industries, Industries Minister MB Patil said on Saturday. Describing Davos as a major springboard for investment outreach, Patil said the engagements helped the State secure commitments, revive stalled proposals and accelerate projects already under implementation.

The Minister said that over 45 high-level meetings and consultations held across five days at Davos projected Karnataka as a preferred global hub for artificial intelligence, Global Capability Centres (GCCs), data centres, renewable energy, aerospace and advanced manufacturing . According to him, the interactions laid the groundwork for long-term partnerships at a time when global companies are reassessing supply chains and investment destinations.

Among the largest commitments announced, the RP-Sanjiv Goenka Group (RPSG) proposed an investment of ₹10,500 crore over the next three years in renewable energy projects in Vijayapura and Ballari districts , significantly boosting clean energy capacity and development in north Karnataka. Carlsberg Group reiterated its plan to establish a ₹350 crore bottling plant at Nanjangudu , while Schneider Electric indicated investments of ₹1,520 crore , including expansion of IT operations in the State.

Existing investors also announced fresh expansion plans. INOX GFL , which has already invested around ₹10,000 crore , will invest an additional ₹400 crore in wind power towers and solar panel manufacturing. Belrise Industries committed ₹300 crore to expand its Mysuru unit supplying components to TVS Motor Company, further strengthening the local manufacturing ecosystem.

Beyond immediate investment figures, the Davos meetings helped Karnataka advance strategic discussions with global technology and infrastructure firms. Nokia Corporation expressed keen interest in setting up a Global Capability Centre and research facilities , while Bharti Enterprises and Sify Technologies discussed new data centre projects , underlining Karnataka’s growing importance in digital infrastructure. Global firms such as Vast Space, Voyager Technologies, Crescent Enterprises, Cloudflare and Mistral AI also showed interest in partnerships across emerging technology sectors.

Patil said Karnataka used the Davos platform to pitch its policy focus on developing Tier-2 cities as self-sustaining urban centres, with Tech Mahindra showing interest in expanding operations beyond Bengaluru. He added that Imperial College London has shared plans to establish a research and development centre in the upcoming KWIN City (Knowledge, Wellbeing and Innovation City) near Bengaluru.

The Minister said discussions were also held with the Singapore Economic Development Board on creating a ‘Singapore Park’ in Karnataka, while efforts were made to attract a substantial share of Coca-Cola’s proposed ₹25,760 crore investment in India . An MoU was signed to facilitate Swiss companies looking to leverage Karnataka’s industry-friendly ecosystem.

Patil said global business leaders praised Karnataka’s skilled talent pool and industry-friendly policies, noting that the Davos engagements complement the State’s broader investment outreach and signal sustained global interest rather than one-off commitments.