As Karnataka clocks ₹2.1 lakh crore on Day 1, a look at who invested how much at Global Investors’ Meet 2022

On Day 1, the top investor was Vedanta with ₹80,000 crore to set up renewable energy projects in Karnataka

Updated - November 03, 2022 11:17 am IST

Published - November 02, 2022 10:55 pm IST - Bengaluru

Chairman and Managing Director of JSW Group Sajjan Jindal (L) greets Union Finance Minister Nirmala Sitharaman (2L), Parliamentary Affairs Minister Prahlad Joshi and Minister of State for Skill Development and Entrepreneurship Rajiv Chandrashekar during the inauguration ceremony of Karnataka’s Global Investors’ Meet 2022 in Bengaluru on November 2, 2022.

Chairman and Managing Director of JSW Group Sajjan Jindal (L) greets Union Finance Minister Nirmala Sitharaman (2L), Parliamentary Affairs Minister Prahlad Joshi and Minister of State for Skill Development and Entrepreneurship Rajiv Chandrashekar during the inauguration ceremony of Karnataka’s Global Investors’ Meet 2022 in Bengaluru on November 2, 2022.

Karnataka, on the first day of the Global Investors’ Meet, has raked in investments of ₹2.1 lakh crore, garnering almost half of its target of ₹5 lakh crore. The total proposal received is worth ₹8 lakh crore, said Industries Minister Murugesh R. Nirani.

Wednesday’s top investor was Vedanta with ₹80,000 crore to set up renewable energy projects in the State.

ABC Cleantech invested ₹50,000 crore to start ventures in green hydrogen and derivatives; Airtel invested ₹15,000 crore to scale up telecom infrastructure while its rival Reliance Jio Infocomm invested ₹11,000 crore.

Watch the video that was shown at Global Investors’ Meet 2022
Prime Minister Narendra Modi inaugurated Karnataka’s Global Investors’ Meet in Bengaluru on November 2, 2022. | Video Credit: K Murali Kumar

O2 Power has also invested ₹1,000 crore in green hydrogen and derivatives; Epsilon ₹9,000 crore in electronics semiconductor and design business; AGP City Gas ₹8,000 crore in infrastructure and industrial parks; Leap Green Energy ₹7,500 crore in renewable energy; Suncatcher Renewables ₹4,500 crore also in electronics semiconductor and design, and Dalmia Cement (Bharat) pumped in ₹3,000 crore to set up infrastructure and industrial parks in the State.

“We are extremely confident of exceeding our target, as we are seeing good conversion,’‘ said Mr. Nirani. According to the Minister, a large number of global corporations, especially the ones focused on power, mining, manufacturing, engineering, electronics, chip manufacturing, semiconductor etc, are very keen on investing in the State or expanding their existing businesses here.

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