Here's How Karnataka Attracts Rs. 23,000 Cr Investments at Global Economic Forum
Here's How Karnataka Attracts Rs. 23,000 Cr Investments at Global Economic Forum

In a significant achievement, the Karnataka government has attracted investments totaling Rs. 23,000 crore during the recent World Economic Forum (WEF) meeting held in Davos, Switzerland. The state delegation actively participated in 50 meetings with industry leaders, resulting in the signing of eight Memorandums of Understanding (MoUs) with various international companies.

Announcing the successful collaborations, M B Patil, the Minister of Large and Medium Industries, revealed, "Karnataka has inked eight MoUs amounting to Rs. 23,000 crore with global companies. Notable agreements include a Rs. 20,000 crore investment by Web Werks for a hyper-scale data center and Microsoft's commitment to digital skilling initiatives."

Patil highlighted that key themes of discussions between the state government and global firms included artificial intelligence, citizen services, sustainability, and e-governance. "Artificial Intelligence took center stage in talks with companies such as HCL, HP, Cisco, and Sony," noted the Minister. Sustainability and Citizen Services were also focal points, with engagements involving companies like Planet, Volvo, and Nestle.

Looking ahead, Patil emphasized, "Our focus now is on realizing these agreements, transforming discussions into tangible investments, and addressing feedback for the seamless implementation of these projects."

The state government additionally sealed an MoU with Hitachi, targeting economic growth in rural areas and encompassing sectors like healthcare, education, and Panchayat E-Governance. Five other MoUs were signed with companies in digital healthcare, smart city infrastructure, renewable energy, and data centers, amounting to Rs. 3,000 crore. Numerous global firms expressed their commitment to establishing facilities in North Karnataka, contributing to a more balanced development beyond Bangalore.

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