Managing Investors Among Key Areas to Achieve Karnataka Vision 2030, Say Experts The state has set new targets for the manufacturing sector to boost yearly growth rate to 12 per cent and even attract investments worth INR 7.5 lakh crore.
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The Government of Karnataka has launched its Industrial Policy 2024-29, to emphasize a better streamlined single window clearance system, to attract investments better, and to facilitate ease of doing business at the Invest Karnataka 2025 being held in Bengaluru.
With the new industrial policy, the Karnataka Government aims to attract investments and create up to 20 lakh jobs by the end of 2029. The state has set new targets for the manufacturing sector to boost yearly growth rate to 12 per cent and even attract investments worth INR 7.5 lakh crore.
Venkat Raju, Global CEO and Founding Partner at Turbostart said that the single window clearance is needed but not sufficient and stressed that the efforts will work only if they are continuously sustained.
"Aftercare is important. How the investors are treated after an exit matters," said Raju talking about the importance of governments treating the investors right, even if there is an exit.
Day one at Invest Karnataka 2025 saw huge rounds of investment MoUs signed, particularly in the renewable energy space. INR 56,000 crore investment was announced by JSW Neo Energy Ltd in solar and wind projects, alongside battery energy storage, battery energy storage, blade manufacturing, and setting up of a wind turbine plant.
Tata Power Renewable Energy Ltd signed for an INR 50,000 crore for RE projects and rooftop solutions in the state, while ReNew Power committed INR 50,000 crore for renewable energy projects with capacities of up to 4GW. Serentica Renewables further pledged to add another INR 43, 975 crore to the sector.
Priyadarshi Panda, Founder, and CEO, of International Battery Company, said, "From an investment perspective there are a lot of investments in the OEM space, especially in the fields of wind, solar, and hydrogen. But to truly champion the green development, you have to support the building storage systems."
Venkat Raju further added that deep tech currently is a convergence of different technologies and that it can be used to create something significant.
"From a Karnataka perspective, we have institutions like the IISC, ISRO, and a lot of biotechnology companies," emphasizing the state's ability to offer quality to investors.
Leading the conversation was Matthew Stephenson, Head, Investment and Services, World Economic Forum who emphasized the key areas for the state to help achieve the Karnataka 2030 vision such as resilience, tech-driven approach, inclusivity, 'green aspect' and leadership- something according to him Karnataka is already demonstrating through the single window system launched earlier.
"AI is something that can be leveraged to make better investment decisions, through WEF initiatives such as the AI Squared we can match capital to startups better using AI tools," said Stephenson.
