Bengaluru: Karnataka Chief Minister Siddaramaiah approved investment proposals totalling Rs 9,823.31 crore during the 64th State High-Level Approval Committee meeting on Monday. The approved nine projects, comprising three new and expansion initiatives along with six additional investments, are expected to create employment opportunities for 5,605 people across various sectors in the state.
The Chief Minister further highlighted the significance of these investments in boosting industrial development and employment in the state. Among the approved proposals, DN Solutions India Private Limited will invest approximately Rs 998 crore, providing 467 jobs. Likewise, Sylectric Semiconductor Manufacturing Private Limited will generate 460 jobs through its semiconductor investment. The largest employment boost will come from Sansera Engineering Limited, whose Rs 2,150 crore investment is set to create 3,500 jobs.
Notably, the committee also approved the first-ever project in the semiconductor sector within the Kochanahalli electronics manufacturing cluster, amounting to Rs 3,425 crore. This marks a significant step toward Karnataka's ambition to become a hub of semiconductor manufacturing.
During the meeting, the Chief Minister issued directives to ensure accountability among companies that acquire land from the Karnataka Industrial Areas Development Board (KIADB). He stressed that industries must commence operations within the stipulated timeframe, warning of penalties for non-compliance.
The Chief Minister also addressed the issue of farmers' welfare, urging sugar factories to adopt a profit-sharing model for by-products and instructed the officials to study the policies adhered to in Maharashtra and Tamil Nadu. The meeting was attended by key ministers, including MB Patil, Cheluvarayaswamy and Priyanka Kharge, along with senior officials such as Chief Secretary Dr Shalini Rajneesh and Additional Chief Secretary LK Atik.
