Karnataka government on Monday signed an MoU with Lulu Group for Rs 2,000 crore worth investments in the state as Chief Minister B S Bommai held several meetings with global business leaders here on the sidelines of the World Economic Forum Annual Meeting.
The Lulu Group intends to open four shopping malls and hypermarkets. It is also keen to establish export oriented food units in the state. The projects are expected to create employment opportunities for 10,000 persons, the state government said in a statement.
Chief Minister Bommai also held talks with heads of Jubilant Group, Hitachi and Siemens companies at Davos.
He invited Jubilant group to explore the investment opportunities in pharma and FMCG sectors in the state. He also made a pitch for the FMCG Park being established in Dharwad and explained the incentive package being offered by the state to draw the investors to set up their units here.
Jubilant Food Works has decided to set up its centralised kitchen and Jubilant Biosys is keen to establish its R&D unit in a 10-acre plot at Devanahalli. Presently, about 9,000 persons are working with Jubilant in the state.
Hitachi conveyed its interest during the talks to set up an EV charging infrastructure unit in the state.
The company has evinced interest to explore the opportunities in energy and digitalisation sectors, considering the immense talent pool available in Bengaluru.
The company is all set to inaugurate its Energy Quality Instrument Unit at Doddaballapur.
Hitachi Energy has its head office in Bengaluru and it is building an engineering centre which would engage about 2,000 engineers.
Siemens is taking up two projects in Bengaluru focussing on Magnetic Imaging and Diagnostics and a health related R&D project.
The company plans to lay the foundation stone for setting up a medical equipment manufacturing unit at Bommasandra in September 2022 to cater to the domestic market. The company currently has about 2,000 engineers.
The state government has assured special incentives for the company to set up its production unit for modern medical equipment.
Representatives of Siemens and the state government also discussed about the ‘Beyond Bengaluru’ project to draw investments to Tumakuru, Hubballi-Dharwad and Mysuru cities.
Industries minister Murugesh Nirani, Additional Chief Secretary in the Department of Commerce and Industry EV Ramana Reddy, CM’s Principal Secretary N Manjunath Prasad, Commissioner of Industries Department Gunjan Krishna and others were present. PTI BJ RAM
