New Industrial Policy 2025-30 targets Rs 7.5 lakh cr in investments: Karnataka CM

Bengaluru, Feb 11 (PTI) Pitching Karnataka as the ideal destination for future-ready investments, Chief Minister Siddaramaiah on Tuesday said the new Industrial Policy 2025-30 aims for a 12 per cent annual growth rate in the manufacturing sector, while targeting Rs 7.5 lakh crore in investments and creating 20 lakh jobs by 2030.

Speaking at the inaugural of Invest Karnataka-2025 summit here, he said it outlined the state's ambitious vision to drive innovation, sustainability, and inclusive growth.

Karnataka is the ideal destination for future-ready investments with its strong policies, world-class infrastructure, skilled workforce, and focus on sustainability, the CM said.

"We are building ecosystems that drive growth, create jobs, and enable global ambitions," he added.

Noting that the state's digitalized systems, streamlined processes and robust support mechanisms ensure ease of doing business, he said, from IT to manufacturing, deep-tech to renewable energy, and aerospace to healthcare, Karnataka is committed to fostering success and leading the way forward.

"To all the global investors gathered here, I say this -- the time to invest in Karnataka is now. Partner with us, innovate with us, and grow with us. Let us script a new chapter of success and prosperity." Highlighting that Karnataka is home to world-class institutions like IISc, IIM Bangalore, NLSIU, and 200 plus engineering and medical colleges producing top talent annually, Siddaramaiah said, with 400 plus R&D centers in biotech, AI, robotics, and space, it stands as India's intellectual hub, actively upskilling youth in emerging sectors through academia-industry collaboration.

Karnataka prioritises responsible, sustainable growth, leading in green economy, eco-friendly industrial clusters, and sustainable urban development. It is India's top solar energy producer and a leader in wind energy, electric mobility, and sustainable urban development, he said.

The Beyond Bengaluru initiative ensures balanced industrial growth across the state while maintaining environmental responsibility, the CM said.

Bengaluru combines world-class business opportunities with a pleasant climate, attracting top talent and earning its title as the Silicon Valley of India. With a cosmopolitan culture, premier institutions, and a high standard of living, it offers businesses growth and employees an unmatched work-life balance, making Karnataka an ideal investment destination, he said.

Siddaramaiah also noted that Karnataka's thriving tourism and service industry, with its rich cultural heritage, scenic landscapes, and world-class infrastructure, makes it a top destination for global travelers and investors alike.

Karnataka is a leader in aviation connectivity, with many well-connected airports across the state, including the Kempegowda International Airport in Bengaluru, a global hub for passengers and cargo, and several others under construction to further boost regional and international connectivity, he said.

"We are actively identifying suitable locations to fast-track the establishment of Bengaluru's second international airport, further boosting the city's global connectivity and economic potential," he added.

Siddaramaiah said Karnataka, with over 15,000 startups and 40 plus unicorns, is India's largest startup hub and among the top five globally.

"Initiatives like ELEVATE 100 and Beyond Bengaluru are driving innovation in Tier 2 and Tier 3 cities, reinforcing its leadership in digital transformation," the CM said.

Karnataka is positioning itself as the go-to destination for semiconductor manufacturing with major investments from Intel, TSMC, and Micron, he said, and added that the state accounts for 60 per cent of India's electronic product exports, making it a global supplier of next-gen chips and devices.

Karnataka contributes over 40 per cent of India's software exports, with the presence of major tech giants like Infosys, Wipro, TCS, Google, Amazon, and Apple. The state is investing in AI-driven governance, block-chain adoption, and cloud computing ecosystems to future-proof the digital economy, he said.

Karnataka is the EV capital of India, with Tesla, Ola Electric, Ather Energy, and Mahindra Electric investing heavily in the state, the CM said. The state is India's largest aerospace hub, with more than 65 per cent of aerospace and defense manufacturing happening here.

KWIN City (Karnataka World Innovation Network) will be a dedicated innovation zone for AI, space tech, quantum computing, and biotech. Karnataka is developing Health City, a world-class medical hub catering to global healthcare needs, medical tourism, and super-specialty treatments, he said.

"From Bidar to Bengaluru, Belgaum to Bellary, development will reach every corner of our state. We are creating specialized industrial clusters tailored to local strengths, ensuring that every region thrives," he added. PTI KSU KH

Source: PTI