The Karnataka government made waves on Wednesday by sealing Memorandums of Understanding (MoUs) worth Rs 22,000 crore with seven prominent companies at the World Economic Forum Annual Meeting in Davos.
Spearheading the investment charge, Web Werks envisions a colossal Rs 20,000 crore data center park in the state, with an additional Rs 2,000 crore earmarked for investment by four other enterprises, as revealed by Karnataka’s Minister for Large and Medium Industries and Infrastructure Development, M B Patil.
During the WEF Meet 2024 in Switzerland, a high-level delegation led by Minister Patil engaged in intensive discussions with industry leaders, solidifying Karnataka’s position as a global investment hub. Notable among the agreements is the Lulu Group’s foray into food processing in Vijayapura district, allocating Rs 300 crore for an export-centric plant.
In a strategic move, Takeda Pharmaceuticals has set its sights on Bengaluru to establish a global innovation center, actively scouting for suitable campus locations. These groundbreaking MoUs underscore Karnataka’s commitment to fostering economic growth and attracting significant investments on the global stage.