Karnataka to increase 24 GW power capacity in the next five years

Karnataka is aiming to achieve an installed power capacity of approximately 24 GW in the next five years, which will require an investment of over ₹3 lakh crore in the power sector alone, Chief Minister D.K. Shivakumar stated. According to a report by The Hindu, the Chief Minister shared this information during the curtain-raiser programme for the 'Global Investors Meet', scheduled to be held in Bengaluru from April 20 to 22, 2027.

Chief Minister Shivakumar stated that along with the development of industries in the state, focus is also being given to the expansion of its energy infrastructure. In this process, special emphasis will be placed on renewable energy and sustainable development. He said that the goal of his government is not only to make Karnataka an industrial hub but also to establish it as a clean industrial hub.

Addressing investors, diplomats, and trade organisations, the Chief Minister added that the proposed investment would be a key part of Karnataka's next phase of economic expansion. Recalling the state's leading role in power production, he mentioned that Asia's first hydroelectric power generation facility was established at Shivanasamudra in 1902.

To make the state a preferred destination for investment, Shivakumar stated that Karnataka's strength is not limited to information technology and biotechnology, but also extends to aerospace, semiconductors, machine tools, and electric mobility sectors. The government is working to remove regional imbalances in industrial development outside Bengaluru. Industrial parks, roads, logistics facilities, and airport connectivity are being strengthened in cities such as Mysuru, Mangaluru, Hubballi, Tumakuru, and Kalaburagi.

The Chief Minister further stated that the government has met more than 200 investors in the last five to six months and is committed to removing obstacles in project implementation. Speaking about the aerospace and defence sector, he said that more than ₹60,000 crore has been invested in this sector, creating approximately 60,000 jobs, while the government now aims to create another 5 lakh employment opportunities.

Minister for Large and Medium Industries and Infrastructure Development, M.B. Patil, stated that approximately 65% of the manufacturing investment commitments received in the previous Global Investors Meet have been implemented on the ground. He said that commitments of approximately ₹10.27 lakh crore were received in the previous summit, and the government is now focusing on converting these proposals into factories and employment.

The Minister further stated that growth is being seen in the electronics, aerospace, electric mobility, steel, cement, renewable energy, and life sciences sectors. Speaking on changes in the investment facilitation process, he said that more than 35 suggestions from the industry have been implemented. A Digital Industrial Land Bank has been introduced by the Karnataka Industrial Areas Development Board (KIADB), allowing investors to search for land online. Additionally, the facility to start projects based on self-declaration under the Karnataka Industries (Facilitation) Act has also been provided.

D.K. Shivakumar is serving as the Chief Minister of Karnataka and is playing a vital role in leading the state's economic and industrial development.