K’taka govt approves 18 investment proposals, including Foxconn, to create 80k jobs

BENGALURU: The State High Level Clearance Committee, chaired by Chief Minister Basavaraj Bommai, has approved 18 investment proposals, including Rs 75,393.57 crore by Foxconn for an iPhone plant near Doddaballapur, on Monday.

At the meeting, Infrastructure Development Minister V Somanna, Electronics, IT & BT, Science & Technology Minister Dr C N Ashwath Narayan, Commerce and Industries Department Principal Secretary Dr S Selvakumar, Commissioner of the Department of Industries and Commerce, Gunjan Krishna, KIADB CEO R Girish and Karnataka Udyoga Mitra Managing Director Gangadharaiah were present.

Fifteen days ago, Chief Minster Basavaraj Bommai and Foxconn CEO Young Liu discussed investment plans in the state.

Fifteen days ago, a Foxconn team, led by chief executive officer and chairman Young Liu and comprising 16 senior leaders, visited the state. At that time, Chief Minister Basavaraj Bommai and Young Liu discussed Foxconn’s investment plans and Bommai assured full support for the Project Elephant. The Foxconn Hon Hai Technology India Mega Development Pvt Ltd will invest Rs 8,000 crore in the state which will create employment opportunities for 50,000 people.

The 61st meeting of the State High Level Clearance Committee, chaired by CM Basavaraj Bommai at his residence, approved 18 projects. Out of that, 10 are new projects, five are expansion projects and three are additional projects. The projects are expected to provide employment opportunities to 77,606 people.

Chief Minister Basavaraja Bommai

Speaking in the meeting, Chief Minister Basavaraj Bommai said, “The proposals of green hydrogen, ethanol production, wind power plants, electrical and electronic equipment, lithium batteries, electric vehicles, cement and steel companies have been approved. It is gratifying that such a large amount of capital has flowed into the state. These projects will further accelerate the industrial progress of the state”.

Large and medium-scale industries minister Murugesh Nirani said, “Apart from expressing appreciation for the investment proposals, these investments are a testament to the business-friendly policies of the state government, led by Chief Minister Basavaraj Bommai, and the enabling environment for industries. Karnataka is leading in the field of industry”.

Murugesh Nirani, Minister of Large and medium-scale industries.

“To promote renewable energy, ethanol, green hydrogen production, aerospace and the electronic systems and manufacturing (ESDM) sector, the proposals of companies like Amplus Active Pvt Ltd, Ayana Renewable Power Pvt Ltd, Vishwaraj Sugar Industries Ltd, and Tata Advanced System Ltd have been approved. Karnataka is the third largest state in the country in terms of sugarcane cultivation. The investments related to green energy are important”, he added.