Invest Karnataka Conclave, the State’s investment exploratory exercise, held in 2022 resulted in attracting investment proposals worth ₹5,41,369 crore, said M.B. Patil, Large and Medium Industries Minister, while responding to a query by M. Chandrappa, Holalkere MLA, during the Legislative Assembly session at Suvarna Soudha in Belagavi on Friday.
The Minister also mentioned that the government had signed a memorandum of understanding (MoU) with 57 companies.
Referring to the Hubballi FMCG Conclave, he stated that the event had facilitated MoUs with 16 companies, involving investment proposals worth ₹1,275 crore.
According to Mr. Patil, the green hydrogen sector accounted for 38%, and the renewable energy sector accounted for 35% of these proposals.
He further said, seven projects proposed during Invest Karnataka Conclave-2022 and three proposed at Hubballi FMCG Conclave have been approved by the State-Level Single Window Agency (SLSWA).
According to regulations, industries receiving government incentives should ensure 100% employment for Kannadigas in ‘D’ category jobs and 70% employment in all job categories, he clarified.
