RPSG Group to invest ₹10,500 crore in north Karnataka; InoxGFL plans wind tower unit
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The RPSG Group will invest ₹10,500 crore over the next three years in Karnataka’s Vijayapura and Ballari districts, Large and Medium Industries Minister M.B. Patil said on Thursday, adding that the state government would extend all necessary support to facilitate the investments.
Patil, who is part of the Karnataka delegation at the World Economic Forum (WEF) Annual Meeting in Davos, said the investments would strengthen the state's renewable energy and industrial ecosystem.
He said the InoxGFL Group, which has already begun manufacturing wind turbine blades at Kustagi, is planning to set up a facility to manufacture large wind power towers at a nearby location. The group has already invested ₹10,000 crore in Karnataka.
The minister said the Ramky Group has expressed interest in setting up Common Effluent Treatment Plants (CETPs) in KIADB industrial areas across the state, and discussions have also been held on establishing a Pharma Park. Tech Mahindra Limited has shown interest in making industrial investments in Tier-2 cities, he added.
Patil said the state is keen to attract greater investments from Singapore-based companies and has held discussions with the Singapore Economic Development Board (EDB), under Singapore's Ministry of Trade and Industry, on setting up a 'Singapore Park' in Karnataka. He said there are significant opportunities for collaboration with Singapore in semiconductors, biotechnology and aerospace.
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Lenovo has held discussions on partnering with local suppliers and entrepreneurs while Axon Cables, which operates in the defence sector, has decided to expand its manufacturing footprint in India and has been invited to consider investing in Karnataka, he said.
To prepare Karnataka for the next phase of global trade and industrial transformation, the state delegation also held discussions with Nicholas Lang, Managing Director of Boston Consulting Group (BCG), on strategies related to tariffs, artificial intelligence and emerging technologies.
Several industry groups have praised the state government for ensuring time-bound implementation of projects, the minister said. In line with the government's focus on promoting cities beyond Bengaluru as self-sustaining urban centres, Tech Mahindra has reiterated interest in expanding its presence in Tier-2 cities.
Schneider Electric has announced plans to establish 20 additional training infrastructure facilities in the state, with a long-term objective of expanding the network to 100 skill development centres, Patil said, adding that discussions were also held with the Jubilant Bhartia Group and other companies.
As part of efforts to strengthen industrial ties with Switzerland, the state government signed a memorandum of understanding with Swiss Chambers India at the summit. Swiss Chambers India head Satish Rao and the CEOs of six Swiss companies were present at the signing.
The Karnataka delegation accompanying the minister includes Principal Secretary S Selvakumar and Industries Commissioner Gunjan Krishna, among others.