Chief Minister Siddaramaiah announced on Wednesday that Karnataka is aiming for a 15-16% annual industrial growth rate as part of its ambitious plan to achieve a $1-trillion GDP by 2032. The state’s proactive policymaking and its Industrial Policy, which offers best-in-class incentives, have positioned Karnataka as a premier global investment destination.
Speaking at the curtain raiser for the Global Investors Meet (GIM) 2025, set to take place from February 12-14 at Bangalore Palace, Siddaramaiah highlighted Karnataka’s strong performance as the second-highest recipient of FDI inflows in India over the last five years, accounting for 22% of the total.
“In the past decade, Karnataka’s industries have grown at a rate of 9.3%. Our goal moving forward is to boost this growth rate to 15-16% annually,” Siddaramaiah stated.
The GIM 2025, themed ‘Reimagining Growth,’ will feature participation from over 5,000 senior delegates and more than 100 speakers. The event will include over 30 technical and cultural sessions focusing on cutting-edge topics such as AI, Industry 5.0, Web 3.0 & Blockchain, Smart Computing, and Cybersecurity.
Large and Medium Industries Minister MB Patil introduced SME Connect ’25, a platform designed to expand business opportunities for SMEs, which Gunjan Krishna, Commissioner for Industrial Development and Director, Department of Commerce and Industries, emphasized are crucial, contributing 41% of employment. This edition of GIM will also spotlight clean mobility and Carbon Capture Technology.
Another highlight is the launch of the second edition of VentuRISE, the Global Startup Challenge. This initiative aims to recognize, reward, and support startups in manufacturing-related sectors, providing a platform for them to showcase their capabilities and secure funding. Focus sectors for VentuRISE ’25 include Electronic System Design and Manufacturing (ESDM), Clean Mobility, and Aerospace & Defence.
“Karnataka is at the forefront of global innovation, contributing 22% to global R&D, and leads in exports, FDI, and technology services,” said IT-BT Minister Priyank Kharge at the CII Karnataka’s R&D Conclave. He added, “With over 250 colleges, 44 universities, and 25,000 startups, we are the R&D and innovation capital. Our commitment to industry-friendly policies and continuous investment in science, technology, and education drives sustainable growth and better standards of living.”
Ramesh Ramadurai, Past Chairman of CII Karnataka & MD of 3M India, noted, “By augmenting resources and leveraging our deep understanding of customers and markets, we can develop valuable solutions. Building the right infrastructure and fostering new partnerships are key to establishing new stages of collaboration and transitioning to groundbreaking new products.”
