US companies express interest to invest Rs 25,000 cr in Karnataka
Karnataka government on Thursday said several American companies have evinced interest to invest around Rs 25,000 crore in the state. Jointly addressing a press conference regarding the outcome of the visit by a business promotion delegation headed by them to the US, Large and Medium Industries Minister M B Patil and Electronics & IT/BT Minister Priyank Kharge said some of the companies are already in the process of investing around USD one billion in the state.
During the visit that spanned from the east coast to the west coast of the US, a total of 36 interactive meetings were held.
«While some companies have planned to commence their operations here some others have proposed to expand their already existing operations.
Our discussions primarily focussed on semiconductors, aerospace and defence, electric vehicles, space, and precision manufacturing,» Patil said.
Discussions were held with leading companies like Applied Materials, AMD, Juniper, Global Foundries, LAM Research, Boeing, Krypton, Dell, MKS Instruments, GE Healthcare, Intelsat, RTX, Teradyne, Texas Instruments, Apple, and Waters Corp.
The delegation also met with a few promising startups like Leolabs, Fictiv and T-Second.
Noting that the purpose of the visit to the US was to underline the status of Karnataka as a promising destination for investment, Patil said the trip was necessary and important considering the fast-changing geo-political dynamics as a large number of global companies are looking at India, especially Karnataka, as an attractive, safe destination for new investment or expanding their existing presence.
