Karnataka has signed memoranda of understanding (MOUs) worth Rs 22,000 crore with global industry leaders Microsoft, Web Werks, Hitachi, and four other companies on Day 2 of the World Economic Forum 2024. The partnerships are expected to propel the state into a new era of technological advancement, infrastructure development, and economic growth, said a statement.
M B Patil, minister for large and medium industries and infrastructure development, held discussions with Sony, HP, Nestle, Honeywell, Lulu Group, Inox Group, Takeda Pharma, Coinbase, Tillman Global, BL Agro, and many others. The primary objective is to establish cutting-edge infrastructure, capitalising on the robust existing ecosystem and the highly attractive market dynamics in the region.
A MoU between the Karnataka government and Microsoft outlines a digital skilling initiative aimed at enhancing livelihood opportunities for under-served youth in India, job seekers, individuals with disabilities, small entrepreneurs, and those in regions with low workforce participation and remote areas. Digital skilling program, named Microsoft RISE, will provide 70 hours of virtual instructor-led training through its non-profit partner AISECT.
Web Werks, a data center solutions company, has signed a memorandum of understanding to establish a 100-megawatt data center park in Bengaluru for Rs 20,000 crore. Furthermore, the corporation announced its desire to develop a connectivity center in Bengaluru, complete with cutting-edge data centres.
Lulu Group, a real estate developer, proposes to spend Rs 300 crore in an export-oriented food processing business. The company engages in the retail and food processing industries, specializing in fruits and vegetables. Looking ahead, the Lulu Group intends to expand its export capability by focusing on Northern Karnataka.
Takeda Pharma intends to open a Global Innovation Center in Bengaluru and is looking for campus options. In its initial location, the business hopes to create 1000 high-profile digital jobs.
B L Agro, a food manufacturing company based in Uttar Pradesh, plans to expand its presence in Karnataka by establishing a primary food processing unit in Northern Karnataka.
Inox Air Products is also considering expansion into Karnataka, with an Industrial Gas manufacturing facility worth Rs 150 crore to supply Electronics Manufacturers in North Bengaluru.
Honeywell is keen to collaborate with Karnataka, using sensors and IoT stacks for various applications.
Hitachi has signed an MoU with the Karnataka Government to focus on economic development, healthcare, education, and Panchayat E-Governance. Volvo is exploring technologies like LNG, battery electric, and hydrogen fuel cells for commercial vehicles, and is also considering green hydrogen for automotive applications.
Nestle plans to expand production to 22,000 tonnes, collaborate with 5000 farmers, and operate a demo farm for coffee plantation training.
Tillman Global, a Telco major, is interested in investing in Karnataka, focusing on building telecommunications infrastructure and investing 25-30 billion dollars over the next decade.
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