Karnataka Clears ₹29,679 Crore Investment Projects, 66,360 Jobs Expected

Karnataka has cleared a major investment package worth ₹29,679 crore, with the approved projects expected to generate around 66,360 jobs across the state.

The High-Level Clearance Committee, chaired by Chief Minister D K Shivakumar, approved nine new projects and eight proposals involving additional investments at its meeting on Wednesday.

Among the new projects, Hero Future Energies has proposed the largest investment of ₹9,760 crore. Other major proposals include ₹4,062 crore from Nirani Sugars, ₹2,988 crore from TruAlt Bioenergy, ₹2,300 crore from Mahindra Aerostructures, ₹2,194.94 crore from Vibrancy Renewable Energies and ₹1,500 crore from Epsilon.

Toyota Kirloskar is set to invest ₹1,200 crore, while Aequs Consumer Products has proposed ₹1,104 crore. Lighthouse Alternative Assets will invest ₹600 crore.

The projects are also expected to create employment on a significant scale. Vibrancy Renewable Energies alone is projected to generate 30,000 jobs, while Aequs Consumer Products is expected to create 4,813 jobs and Mahindra Aerostructures around 3,000 jobs.

The committee also cleared several proposals for expanding existing investments. These include ₹1,050 crore from TVS Motors, ₹884.25 crore from MSPL, ₹605 crore from Bhima Fine Chemicals, ₹492.24 crore from Sansera, ₹437 crore from Honda Cars, and ₹250 crore each from Ensure Reliance Power Solutions and Havells India.

Shivakumar also stressed the need for greater scrutiny before industrial approvals. He directed the Finance Department to thoroughly examine project reports before industrial licences are granted.

The Chief Minister further called for making a pre-clearance audit mandatory and instructed officials to form a dedicated audit team. He also directed departments to ensure strict compliance with Karnataka's industrial policy while taking steps to support the establishment and expansion of industries.