Minister: 62% of manufacturing promises made at Global Investors Meet in project proposal stage

Bengaluru: Industries minister MB Patil said Saturday that 62% of investment commitments made to the manufacturing sector during the Global Investors Meet (GIM) held earlier this year have been converted into formal project proposals.

"In total, Karnataka received investment commitments worth Rs 10.2 lakh crore at GIM 2025, of which Rs 4.3 lakh crore — about 42% — have already been converted into proposals. Of the Rs 5.5 lakh crore committed to manufacturing, proposals worth Rs 3.4 lakh crore have been submitted," Patil said at a session with union commerce and industry minister Piyush Goyal, organised by the Confederation of Indian Industry (CII).

"This strong conversion rate reflects sustained post-MoU engagement with investors, ensuring that investment intent translates into tangible action," he added.

Patil said companies such as Krones, Safran, and TASL have already filed applications, with many starting groundwork.

He also highlighted the state's emerging role in aviation and aerospace.

"With IndiGo and Air India operating MRO (maintenance, repair, and overhaul) facilities, along with TASL's upcoming MRO unit and HAL's existing operations, Karnataka has truly earned its place as the ‘ MRO Capital of Asia '," he said.

"As the world adopts the China+1 strategy and responds to uncertainties caused by global conflicts, Karnataka has emerged as a dependable and natural partner. We are building not just industrial parks, but self-contained, future-ready, innovation-driven ecosystems," Patil said.

The minister also spoke about the new industrial policy launched at GIM or Invest Karnataka 2025.

"The policy places a strong emphasis on sustainability, integrating decarbonisation goals , green regulatory frameworks, and dedicated promotion of environment-friendly industrial practices," he said.