Top industrialists offer huge investments in Karnataka at summit

     
February 3, 2016

BENGALURU: The Karnataka investment summit 2016 that began on Wednesday attracted the participation of India's industrial and business tycoons and several Government leaders. They included Union Finance Minister Arun Jaitley, Union Urban Development Minister Venkaiah Naidu, Union Road, Transport and Highways Minister Nitin Gadkari, Karnmataka Chief Minister Siddaramaiah, Tata Group chairman Ratan Tata, Adani Group chairman Gautam Adani, Reliance Group chairman Anil Ambani, Wipro chairman Azim Premji and Aditya Birla Group chairman Kumar Mangalam Birla.

Reliance Group chairman Anil Ambani announced a plan to set up an aerospace centre for research and development in the field of aviation in Bengaluru. The R&D centre under the nomenclature of Reliance Defence will generate employment to 1,500 people. Ambani said that in order to become a strong military power, India need to reduce its dependency on other countries for its defence requirements.

Adani had a proposal for an investment of 21,000 cr in ports and renewable energy. He said he will invest Rs 11,500 cr to increase the capacity of the Udupi power company. They have also plans to expand the coal handling capacity in the State by putting in Rs 500 cr.

Wipro's Premji said the software company will hire 25,000 more techies from Karnataka. Wipro currently has a manpower strength of 55,000. Tata Chairman Ratan Tata said Karnataka is one of the major centres to make investments.

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