Karnataka's Economic Surge: Major FDI Inflows, Infrastructure Boost, and Job Creation

Chief Minister Siddaramaiah announced that Karnataka has attracted Rs 54,427 crore in Foreign Direct Investment for 2023-24. The state has also signed MoUs with 13 industries, expected to create 22,600 jobs. The Karnataka Clean Mobility Policy aims to draw Rs. 50,000 crore in investments. Infrastructure projects and skill training initiatives are being accelerated.

Chief Minister Siddaramaiah announced that Karnataka has garnered Rs 54,427 crore in Foreign Direct Investment for 2023-24, positioning it third in the country. The state is speeding up development in industry, agriculture, infrastructure, and education sectors to sustain economic growth.

Addressing the 78th Independence Day at Manekshaw Parade Ground, Siddaramaiah revealed MoUs with 13 industries, expected to result in Rs 42,915 crore in investments and 22,600 new jobs. Additionally, 591 investment projects approved this year could generate investments of Rs 84,232 crore and create 1,56,986 jobs.

Siddaramaiah highlighted preparations for the Global Investors' Meet - Invest Karnataka 2025, and the final stage approval of the Karnataka Clean Mobility Policy 2024-29 aimed at attracting Rs 50,000 crore in investments. Major infrastructure projects are underway, including highways, bridges, and the Peripheral Ring Road project. Efforts are also focused on mitigating floods and landslides, with measures in place to address human-wildlife conflicts.

(With inputs from agencies.)