Karnataka Clears Major Investments, Spurs Economic Growth

Karnataka's State High-Level Clearance Committee approved 13 major investment proposals totalling Rs 27,607.26 crore, set to create 8,704 jobs. Led by Chief Minister Siddaramaiah, the projects encompass significant investments from companies like Vayu Assets and Tejas Networks, highlighting a commitment to economic advancement and employment generation.

The 66th meeting of Karnataka's State High-Level Clearance Committee, led by Chief Minister Siddaramaiah, saw the approval of 13 noteworthy investment proposals. These projects promise a collective investment of Rs 27,607.26 crore, which officials say will lead to the creation of 8,704 direct jobs.

Among these approvals, 11 pertain to fresh investment plans with a substantial sum of Rs 27,228.51 crore, while expansions account for Rs 378.75 crore. This was detailed by Large and Medium Industries Minister M B Patil in a press release.

Significant players in this investment influx include Vayu Assets Private Limited and Tejas Networks Limited, with investments expected to generate thousands of jobs. Other companies, such as Reliance Consumer Products and JSW JFE Electrical Steel, are also set to make their mark, driving forward the region's economic development.

(With inputs from agencies.)