Karnataka Approves ₹18,430 Crore Investment Proposals, Creating 15,000 Jobs
Karnataka clears Rs 18,430 crore investment proposals; 15,000 jobs expected
The Economic Times
Image: The Economic Times
Karnataka's Chief Minister Siddaramaiah announced the approval of investment proposals totaling ₹18,430.44 crore (approximately $2.2 billion USD), expected to create over 15,000 jobs. The 67th meeting of the State High-Level Clearance Committee approved 17 projects, including significant investments in the electric vehicle, solar, and aerospace sectors.
- 01Karnataka approved investment proposals worth ₹18,430.44 crore.
- 02The investments are expected to create over 15,000 jobs.
- 0311 new proposals will bring in ₹14,906.9 crore and create around 13,050 jobs.
- 04Significant projects include investments in electric vehicles and aerospace.
- 05The proposals were approved during the 67th meeting of the State High-Level Clearance Committee.
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Karnataka Chief Minister Siddaramaiah announced on Monday that the State High-Level Clearance Committee has approved investment proposals totaling ₹18,430.44 crore (approximately $2.2 billion USD), which are anticipated to generate over 15,000 jobs. The approvals were made during the committee's 67th meeting, where 17 project proposals were sanctioned, comprising 11 new investments and six expansions. The new proposals are expected to attract ₹14,906.9 crore in investments, creating around 13,050 jobs across various districts. Notable projects include investments from River Mobility Private Limited in Kolar for electric vehicles, Genx PV India Pvt Ltd in Chikkaballapura for solar energy, and Aerostructures Manufacturing India Private Limited in Belagavi for aerospace manufacturing. The six expansion proposals will contribute an additional ₹3,523.54 crore, generating approximately 1,982 jobs.
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The approved investments are likely to boost local economies by creating thousands of jobs and attracting further investments in Karnataka.
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