Kar Min meets industry leaders in Chennai to explore investments
25-Nov-2024 11:49 PM 6585
Chennai, Nov 25 (Reporter) A high level delegation from Karnataka led by its Minister for Large and Medium Industries M.B. Patil on Monday met several industry leaders to explore investment opportunities in various sectors. According to a release, Mr Patil concluded a series of impactful meetings with industry leaders during his visit to the city as part of a road show held by the Karnataka government. These discussions were aimed at exploring investment opportunities, foster strategic partnerships, and strengthen Karnataka’s position as a hub for innovation-driven industries. Key industry participants included senior representatives from companies such as Swelect, Visteon, MacDermid Alpha, Syrma SGS, Salcomp, Amphenol, Nokia, Tube Investments of India Limited, EID Parry, TAFE, Rane Group, Sanmar Group, Ashok Leyland and Wheels India Limited. The meetings focused on fostering investment and expansion opportunities in Karnataka and invited them to take part in the upcoming "Invest Karnataka 2025 Global Investors's Meet." The key discussion areas centred on Electronics System Design and Manufacturing (ESDM), Pharma and Chemicals, Electric Vehicles (EVs), Automotive and Aerospace and Talent Retention and Social Infrastructure. The release said leaders from the ESDM sector emphasized the need for creating a robust ecosystem in Karnataka, focusing on PCB manufacturing and display technologies. The Karnataka government highlighted the ongoing development of the Kochenahalli ESDM cluster in Mysuru as an ideal location for investments. Skill development initiatives tailored to the sector’s needs were also discussed to support its rapid expansion. Tube Investments and Sanmar Group shared plans to expand operations in high-growth sectors such as pharmaceuticals and chemicals. Karnataka’s proposed pharma cluster near Bengaluru, equipped with centralized Effluent Treatment Plants (ETPs), was presented as a significant opportunity for these industries. It had discussions with Ashok Leyland focused on investments in EV manufacturing, including battery production and alternative fuel R and D. Karnataka’s EV-friendly policies and infrastructure support were highlighted as enablers for the company’s ambitious growth plans. Companies such as TAFE and Sanmar Group emphasized the need for innovation -driven collaboration in the automotive and aerospace sectors. The Karnataka government proposed strategic locations, including Dharwad and Adhinarayanahosahalli, for expansions in these industries, citing logistical and operational advantages. Several leaders also underscored the importance of creating conducive environments for talent retention. Suggestions included developing industrial townships with robust social amenities such as schools and hospitals to attract and sustain a skilled workforce. The meetings reaffirmed Karnataka’s commitment to providing tailored support to industries, including assistance with ideation, approvals, and infrastructure readiness. Companies such as Rane Group and Wheels India expressed strong interest in expanding their operations in Karnataka, with Rane proposing a substantial investment of over Rs 1,000 crore. The roadshow in Chennai not only strengthened Karnataka’s industrial partnerships, but also paved the way for meaningful collaborations at Invest Karnataka 2025. The government’s efforts are poised to drive sustainable development and position Karnataka as a leader in India’s economic growth trajectory...////...
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