Karnataka Accelerates Investment Prospects at World Economic Forum
Vijayapura: In pursuit of drawing investments to the state, Karnataka's high-level delegation, spearheaded by MB Patil, the Minister for Large and Medium Industries, and Infrastructure Development, engaged in a series of talks with top global leaders during the World Economic Forum Meet in Davos, Switzerland on Monday.
Having engaged in extensive high-level discussions with Johnson & Johnson, IBM, and Schneider, Minister Patil assured the government's full support and collaboration for their upcoming initiatives in Karnataka.
"During the 2024 World Economic Forum Meet in Davos, we introduced crucial initiatives set to reshape the infrastructure of Karnataka. These strategic revelations underscore our steadfast dedication to promoting sustainable growth, innovation, and global collaboration, paving the way for a transformative period in economic development," MB Patil stated in a press statement.
According to the statement, Johnson & Johnson (J&J) is poised to establish its Global Service Centre in Karnataka, creating 200 job opportunities.
The company also expressed its intention to expand manufacturing operations in India, particularly in the medical technology and life sciences sectors. The company emphasizes the significance of skilled talent availability, identifying Karnataka as an attractive location.
IBM announced its interest in exploring the North Bengaluru area, citing the significant availability of talent, with the local population reaching almost 40,000, the majority being in Karnataka.
The dialogue also delved into the domain of data analytics, as direct cash transfers and various government schemes, collectively valued at 7 billion dollars, were anticipated to generate substantial data, paving the way for improved policy designs and informed decision-making.
Schneider Electric is actively investing in its Atibele facility, envisioning a comprehensive campus with five factories, anticipating a doubling of output through enhanced efficiencies and the integration of cutting-edge technologies.
Under CSR, talks are underway to collaborate with six NGOs in Bengaluru to educate electrician.
Building upon their existing partnership, the Government of Karnataka and Schneider Electric plan to extend their collaboration to train trainers.
