Karnataka expects FDI worth Rs 75,000 cr in in sectors like biotech, start-ups

News Network

May 28, 2022

Bengaluru, May 28: Karnataka is expecting a Foreign Direct Investment worth Rs 75,000 crores in sectors like biotech and start-ups, the state's Education Minister Dr Ashwath Narayana has said.

The minister, who accompanied Chief Minister Basavaraj Bommai at the World Economic Forum at Davos, said that the Davos meeting was very successful.

He said the government was keen on developing other cities like Mysore, Mangalore, Belgaum, Hubli-Dharwad and Shimoga as well.

"The state is also developing seven to eight more airports," the minister told PTI after addressing members of the KannadigaruUK at the Bharatiya Vidya Bhavan here on Friday.

Karnataka in Davos signed two major MOUs worth Rs 52,000 crores, with two major companies -- ReNew Power for Rs 50,000 crores and the Lulu Group International for Rs 2,000 crores.

Siemens is taking up two projects in Bengaluru focusing on Magnetic Imaging and Diagnostics and a health-related R&D project.

The Karnataka Government has assured special incentives for the company to set up its production unit for medical equipment.

Earlier, addressing the members of the KannadigaruUK, Dr Ashwath Narayana said Karnataka is developing fast and that Bengaluru is emerging as a city of opportunity and a city of future in sectors like space, defence, and IT.

"We welcome all as we want to be competitive," he said.

Dr Nanda Kumara, Executive Director of Bharatiya Vidya Bhavan here, was also present on the occasion.

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‘Nothing for Karnataka’: DKS slams Union Budget, flags Bengaluru neglect

News Network

February 1,2026

Bengaluru: Karnataka Deputy Chief Minister D K Shivakumar on Sunday criticised the Union Budget presented by Finance Minister Nirmala Sitharaman, claiming it offered no tangible benefit to the state.

Though he said he was yet to study the budget in detail, Shivakumar asserted that Karnataka had gained little from it. “There is no benefit for our state from the central budget. I was observing it. They have now named a programme after Mahatma Gandhi, after repealing the MGNREGA Act that was named after him,” he said.

Speaking to reporters here, the Deputy Chief Minister demanded the restoration of MGNREGA, and made it clear that the newly enacted rural employment scheme — VB-G RAM G — which proposes a 60:40 fund-sharing formula between the Centre and the states, would not be implemented in Karnataka.

“I don’t see any major share for our state in this budget,” he added.

Shivakumar, who also holds charge of Bengaluru development, said there were high expectations for the city from the Union Budget. “The Prime Minister calls Bengaluru a ‘global city’, but what has the Centre done for it?” he asked.

He also drew attention to the problems faced by sugar factories, particularly those in the cooperative sector, alleging a lack of timely decisions and support from the central government.

Noting that the Centre has the authority to fix the minimum support price (MSP) for agricultural produce, Shivakumar said the Union government must take concrete steps to protect farmers’ interests.

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