Bengaluru: Defence minister Rajnath Singh said India rolls out the red carpet – and not red tape — to its investor-friends, underscoring the govt’s efforts to eliminate bureaucratic hurdles for prospective investors. He expressed confidence that Bengaluru will spearhead the development of a homegrown AI foundational model.
Declaring open the four-day Invest Karnataka 2025 here Tuesday, the minister said when he speaks about policy uncertainty, he would like to emphasise on a crucial point that all governance levels in India – from the Centre to local bodies – have a broad consensus that sustainable economic development must be driven by a market-led economy with the private sector playing a leadership role.
Singh recognized Bengaluru’s R&D and tech prowess and said, “If there are doubts about India’s future, a visit to Bengaluru will dispel them. The city’s remarkable strides in IT, startups, and revolutionary research are setting the stage for India to lead the world. I’m confident that Bengaluru will give India its AI foundational model.”
Through the summit curated around the theme, ‘Reimagining Growth’, Karnataka expects to attract Rs 10 lakh crore in investments at the meet, which is playing host to 19 country-partners, including France, Japan, South Korea, Israel, Switzerland, Germany, Australia and Singapore, alongside nine dedicated country pavilions showcasing investment opportunities and trade collaborations.
The meet showcases Karnataka’s role as a global innovation hub through its forward-looking policies that respond to evolving changes in the industrial landscape.
Anand Mahindra, chairman of Mahindra Group, said they’re planning to invest almost Rs 40,000 crore in Karnataka over the next few years. It plans to invest Rs 35,000 crore in developing 5GW of solar and other renewables energy projects over five years, generating 6,000 to 8,000 new jobs.
“Mahindra Holidays already operates several resorts here and is evaluating further expansion into areas like Gokarna and Hampi. We intend to invest an additional Rs 1,000 crore and are in talks with govt officials. I look forward to their support, particularly regarding land aggregation,” he said.
Mahindra struck a chord with the audience, drawing on his personal connection with the state. He said Karnataka holds a special place in his heart, filled with childhood memories. Mahindra reminisced about his extensive stays in Kutta village near Nagarhole, where his parents established a coffee plantation from ground up during the late 1960s. “They came from Punjab and later moved to Mumbai. Towards the latter part of their lives, my parents were the happiest in Kutta. While I come here as an investor, first and foremost, I’m just a Kodagu boy coming home,” he said.
JSW Group chairman Sajjan Jindal said the company has lined up Rs 99,000 crore investment with Rs 56,000 crore in the renewable space and the rest towards expanding capacity at the Vijayanagar facility to set up an advanced steel plant, leveraging AI and robotics.
JSW is also planning to set up the largest port near Karwar. Speaking about how Karnataka is his karmabhoomi, Jindal highlighted JSW’s long-standing partnership with the state. JSW has invested Rs 1.2 lakh crore in Karnataka, employing over 1 lakh people. Jindal said, “Make in Karnataka, Make for India, Make for the World.”