Karnataka Clears INR 29,679 Crore Investment Proposals, RE Projects Among Key Approvals

The Karnataka government has cleared investment proposals worth INR 29,679.20 crore across renewable energy, manufacturing, automotive, consumer products, infrastructure and other sectors, with the projects expected to generate around 66,360 jobs.

The approvals were given at the 68th State High Level Clearance Committee meeting chaired by Chief Minister D K Shivakumar. The committee cleared nine new projects involving INR  25,710.56 crore, along with eight additional investment proposals worth INR 3,968.64 crore.

The renewable energy sector accounted for some of the major proposals. Hero Future Energies received approval for a project involving an investment of INR 9,760 crore, expected to generate around 3,200 jobs. Vibrancy Renewable Energies will invest INR 2,194.94 crore and is expected to create 30,000 jobs.

TruAlt Bioenergy also received approval for a INR 2,988 crore investment proposal, with the project expected to create 21,436 jobs. The other new projects include Nirani Sugars with an investment of INR 4,062.60 crore, Mahindra Aerostructures at Rs 2,300 crore, Aequs Consumer Products at INR 1,104 crore, Epsilon at INR1,500 crore, Toyota Kirloskar Motor at INR 1,200.02 crore and Lighthouse Canton Alternatives Asset Manager at INR 600 crore.

The eight additional investment proposals cleared by the committee include INR  884.25 crore from MSPL, INR 250 crore from Nsure Reliable Power Solutions, INR 437 crore from Honda Cars India, INR 605.15 crore from Bheema Fine Chemicals, INR 492.24 crore from Sansera Engineering, INR  1,050 crore from TVS Motor Company and INR 250 crore from Havells India.

Shivakumar directed officials to strengthen scrutiny of project reports before granting industrial licences and make pre clearance audits mandatory. The Finance Department has also been asked to constitute a dedicated audit team for the projects.

The approvals are part of Karnataka’s broader push to attract industrial investment, with renewable energy and manufacturing forming key components of the state’s investment pipeline.