Karnataka gets Rs 9,700-cr investment commitment at Make in India Week

Karnataka signed five projects with a commitment to invest close to Rs 9,700 crore during the 'Make in India Week' event being held in Mumbai in the renewable energy, food processing, textile and electronic manufacturing sectors.

The state received investment intentions from French company Tar Kovacs for the setting up of an ocean-based renewable energy project with an investment of Rs 2,290 crore (EUR 300 million), while solar cell manufacturer First Solar is looking to setup a manufacturing unit with an investment of Rs 6,000 crore.

Mumbai-based Pert Telecom showed interest in setting up a manufacturing unit for smart devices in Karnataka with an investment of Rs 1,250 crore in a phased manner, according to a statement.

Apart from these large ticket deals, the state also received interest from garment exporter Global Mode & Accessories for a unit that could employ close to 2,000 people with an investment of Rs 25 crore and US-based McCormick Ingredients to setup a food processing unit with an investment of Rs 150 crore.