Karnataka aims for ₹7.5 lakh crore investment and 20 lakh jobs by 2030

According to an ANI report, the state of Karnataka has set an ambitious target to attract ₹7.5 lakh crore in investment and create 20 lakh new jobs by the year 2030. Chief Minister D.K. Shivakumar made this announcement on Thursday, while also revealing preparations for the Global Investors Meet (GIM) 2027, to be held in Bengaluru from 20 April to 22 April, 2027.

These targets have been outlined under the state's Industrial Policy 2025-30. The primary objective of this policy is to secure investments in sectors such as semiconductors, aerospace, artificial intelligence (AI), clean energy, life sciences, and electric mobility. During a programme, the Chief Minister stated that Karnataka's economy grew by 8 per cent last year and the state attracted approximately $13 billion in foreign direct investment.

Providing details on the state's strong economic position, the Chief Minister added that there are more than 1,100 Global Capability Centres in Karnataka, and the state's share in India's software exports is more than 40 per cent. To facilitate investors, the government is strengthening its arrangements through 'Karnataka Udyog Mitra' and 'Invest Karnataka Forum'. Currently, the state's single window system provides more than 150 services from over 30 departments on a single platform.

To encourage investors, the Chief Minister said in clear terms that investors should build factories instead of running after files. He further stated that not just one department, but the entire government should stand with the investor. Nodal officers will guide investors to help them obtain approvals and clearances.

Industry Minister M.B. Patil stated that in the previous Global Investors Meet, investors had committed to investments of approximately ₹10.27 lakh crore, of which about 65 per cent of manufacturing sector investments have already been converted into projects. Patil emphasised that the true success of an investors' meet is not when MoUs are signed, but when factories become operational. He mentioned that investments made by DN Solutions, Krones, Naidec, and Foxconn are now operational, while work is underway on projects by Lam Research, Applied Materials, Wipro Electronic Materials, Jindal Aluminium, and Mahindra Aerospace.

As part of the preparations for the 2027 summit, the government has launched the Aerospace and Defence Policy 2026-31 and the Digital Industrial Land Bank of the Karnataka Industrial Areas Development Board. Additionally, the third edition of VentuRISE has also been launched. Under the Aerospace and Defence Policy, a target of ₹60,000 crore investment and 60,000 jobs has been set. Similarly, the Textile and Apparel Policy 2026-31 aims to achieve ₹20,000 crore in investment and the creation of five lakh jobs.

To extend industrial development beyond Bengaluru to other regions, the government is planning to organise a dedicated investors' conclave in North Karnataka, which will showcase opportunities present in areas such as Kalyana Karnataka and Kittur Karnataka.

Karnataka is a crucial state in India, considered a hub of technology and industries. It has been a leader in the country, especially in the IT and biotechnology sectors, and Bengaluru is recognised as India's Silicon Valley.