Mumbai Roadshow

Ruchi Soya Industries announces an investment of 350 Crores in Karnataka at Mumbai Roadshow
Mr.Sajjan Jindal, Chairman & MD, JSW Steel Ltd endorsed Karnataka as the first state of choice in the country today

Setting the stage for the next edition of the Invest Karnataka 2016, Karnataka State hosted the Mumbai road show at The Taj Mahal Palace Hotel in the city today. The event saw the signing of an MOU between India's largest manufacturer of edible oil, Ruchi Soya and Government of Karnataka. Ruchi Soya Industries will invest 350 Crores in Karnataka in both the agriculture and energy sectors.

The Ministers present at the Invest Karnataka 2016 Mumbai Road show are:

Sri R. V. Deshpande - Hon’ble Minister for Large and Medium Scale Industries and Tourism & Minister for Large and Medium Industries, Government of Karnataka
Sri. D. K Shivakumar - Hon’ble Minister for Energy, Government of Karnataka
Sri. Roshan Baig - Hon’ble Minister for Infrastructure Development, Information and Haj, Government of Karnataka
Sri. Praful Patel - Former Union Minister for Civil Aviation

Also present at the event was Senior Government Officials, Members of CII Mumbai and Western region, Key Industrialists and CEOs in Mumbai to discuss potential investments at ‘Invest Karnataka-2016’ global investors meet, scheduled from February 3 to 5, 2016 in Bengaluru.

Key industrialists including Mr.Sajjan Jindal, Chairman & MD, JSW Steel Ltd, Mr. Harish Bhat, Member Group executive Council, Tata Sons Ltd, Mr. Jajaj Dhani, President- International Operations, Asian Paints, Mr. Venugopal Dhoot, Chairman, Videocon, Mr. Shekar Viswanathan, Chairman, CII, Karnataka State Council, Vice Chairman & Whole Time Director, Toyota and others shared their experiences of doing business with Karnataka at the roadshow. Mr. Jindal said that JSW Steel has invested over 50000 crore rupess in Karnataka till date and endorsed Karnataka as the first state of choice in the country today. Mr. Shekar Viswanathan spoke about the ease with which Toyota scaled from 100 thousand to 300 thousand in Karnataka. Mr.Bhat highlighted the various sectors that the Tata group has diversified into in Karnataka. He also added that 75,000 Tata Families are residing in the state today.

Speaking on the occasion, Sri R. V. Deshpande said that the Government of Karnataka promises only what it can deliver. However he assured the audience that the Government will do everything possible to enable companies to conduct businesses ethically, seamlessly and easily. He also mentioned that he is personally interacting with several companies operating in Karnataka, Industry Associations, Foreign trade bodies and important stakeholders to personally listen to their views and perspectives. He also added that over past few months he has also met many Mumbai based companies. Karnataka's USP is a powerful combination of a highly skilled workforce, great technical and technological expertise, an entrepreneurial mindset driven by innovation and a thriving cluster based ecosystem. This is the reason Karnataka ranks as the 4th most innovative clusters globally along with Silicon Valley, Boston and London. The future is in hi-technology and hi-technology is being made in Karnataka. Therefore, the future is being made in Karnataka. 3D Printing, Nano technology, Advanced Materials, Robotics, Internet of things – these are the technologies, which will define the way we live and work for the next few decades according to the Minister.

The Minister further added that Karnataka has become the hub for all these technologies. More than 360 MNCs have their R&D and innovation centers in Karnataka across sectors. These include Airbus, Rolls Royce, Huawei, GE, Texas Instruments General Motors, AstraZeneca, Intel, Yahoo, Microsoft, Samsung, Bell, ABB, Cisco, Accenture, Continental etc the list is long. These companies are aggressively moving with their innovations and futuristic technologies.

To support these companies, the Government of Karnataka is investing in a big way in upgrading the state’s infrastructure to include tier 1 and tier 2 cities and backward regions. The Minister also gave examples of some of the biggest infrastructure projects in the country like The Chennai Bengaluru Infrastructure Corridor, the National Investment Manufacturing Zones at Tumakur, Kalaburagi, Kolar and Bidar numerous Tier-2 city airports, highway projects and ports among others. The Minister also made a special mention of the Bengaluru-Mumbai Economic Corridor and said this will be a great opportunity for companies to create logistics, infrastructure, road & rail connectivity for Freight movement across the two states of Karnataka and Maharashtra. He also said that the Karnataka Government has made special provision for encouraging investments in other districts, especially in northern Karnataka by developing more than 152 industrial areas spread across the State that match the natural resources and capabilities of the region aligned with the industry requirements.

Hon’ble Energy Minister D.K. Shivakumar also spoke on the occasion and highlighted that the Government of Karnataka has a vision of providing power to all by the year 2020. To achieve this, the Government has initiated capacity addition and strengthening of transmission system in the State. The present installed capacity of Karnataka is 15,966MW (6th largest in generation capacity of in India). This Includes a captive generation of 2588 MW, 3656 MW hydro power generation (highest installed capacity for hydro power in the country) and an installed capacity of 5044MW renewable energy. He further added that the Government has initiated capacity addition plan by entering in to PPA with State Generation and Central generation including Ultra Mega Power Projects. As a result anticipated capacity addition in 2015-16 is 2521 MW. He further added that the Government is also working on capacity addition beyond 13th plan through various means.

Earlier in the day Sri R. V. Deshpande, Hon’ble Minister for Large and Medium Scale Industries and Tourism & Minister for Large and Medium Industries interacted with potential investments in state including:

Shri. Anand Mahindra, Mahindra Group
Shri. Ashok P Hinduja , Chairman, Hinduja Group
Shri. Dinesh Sahara, Chairman & MD, Ruchi Soya
Shri. Harsh Goenka, Chairman, RPG Enterprises
Shri. Samir Somaiya, Chairman, Godavari Bio Refineries Ltd
Shri. Ashwin Sheth, Chairman, Sheth Corp Pvt Ltd
Shri. Niraj Bajaj, Chairman & MD, Mukund Ltd
Shri. Rajiv Podar, Chairman, Podar Group
Shri Jajaj Dani, President, International Operations – Asian Paints
Astrac Group along with select start-ups
Shri. Sanjay Shethi, CEO & MD,Challet Hotels Pvt Ltd
Shri. Rajeevan Nair, VP, Tata Housing
Shri. Ajay Kanoria, Chairman & MD, Bagalkot Cements Ltd

The Ministers also met over 100 Chinese companies at Mumbai Roadshow.

The purpose of this meeting was to seek the support of the Chinese Companies in Invest Karnataka 2016 and bringing delegations to participate in the event.

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