Karnataka stands 3rd in country with Rs 54,427 cr FDI during 2023-24: CM

Bengaluru: Chief Minister Siddaramaiah on Thursday said Karnataka stands third in the country by drawing Rs 54,427 crore Foreign Direct Investment (FDI) during 2023-24.

He said the state government has taken up multidimensional programmes in the areas of industry, agriculture, infrastructure development, and education to accelerate economic growth, besides the implementation of welfare programmes.

The Chief Minister was delivering his address on the occasion of 78th Independence Day, after hoisting the national flag at the Manekshaw Parade Ground here. He noted that MoUs (memorandum of understanding) have been signed with 13 industries, which will bring in investments worth Rs 42,915 crore and is expected to create around 22,600 jobs.

The government has approved 591 investment projects through single window committees during 2023-24, he said adding this will result in a flow of Rs 84,232 crore investment and employment generation for 1,56,986 people.

“During 2023-24, our state stood first in exports, with a value of USD 1,66,545 Million. The growth is 5.20 per cent compared to previous year.” On the Global Investors’ Meet- Invest Karnataka 2025 to be held in 2025, Siddaramaiah said preparations are in full swing and investors are invited by holding roadshows across the country and the world.

The state government has drafted the Karnataka Clean Mobility Policy 2024-29 aimed at attracting Rs. 50,000 crore investments within the clean mobility vehicle sector and creating approximately one lakh new jobs, he said. The policy is now in its final stage of approval.