SWIFT City is a groundbreaking initiative aimed at transforming the Sarjapura Industrial Area into a high-tech startup hub. This future-ready ecosystem will drive innovation and economic growth across multiple high-impact sectors. Gunjan Krishna, IAS, Commissioner for Industrial Development & Director of Industries and Commerce Department, Government of Karnataka shared in an interaction with Elets News Network (ENN). Edited excerpts:

What are the highlights of Invest Karnataka 2025?

The Global Investors Meet (GIM) 2025, Karnataka’s flagship investment event, will be held from February 12–14, 2025 with the inauguration on the 11th Feb evening. With the overarching theme of “Reimagining Growth,” GIM 2025 aims to drive tech-driven, green, inclusive, and resilient development. This premier platform will showcase Karnataka’s capabilities, attract global investments, and promote partnerships across various industries, from aerospace and defence to biotechnology and future mobility.

The event will host 75+ globally renowned speakers, 30+ thought-provoking sessions, and 5,000+ senior delegates representing diverse industries and sectors from around the world.

A key attraction will be the Future of Innovation Expo, showcasing cutting-edge advancements in mobility, defence, biotechnology, precision manufacturing, and R&D.

Platforms like SME Connect and VentuRISE Global Startup Challenge will empower small enterprises and startups, encouraging innovation and partnerships. Building upon the shared vision of sustainable growth and innovation, the following are the major highlights of GIM 2025:

• Karnataka is targeting to reinforce its position as a global leader in industrial and economic development. The investments aim to span across strategic sectors like aerospace, renewable energy, ESDM (Electronics System Design and Manufacturing), and advanced manufacturing. A few select major investments include Toyota Kirloskar, JSW Energy, Hero Future Energies, Exide, Foxconn, and Air India. 
• Partnerships with 19 countries and 9 country pavilions will promote an exchange of ideas, innovation, and technology while showcasing Karnataka’s infrastructure and capabilities as an investment state.
•  More than 2,000 SMEs have received training in Industry 4.0 technologies, enabling them to adopt digital transformation and enhance productivity. The focus will include workshops on e-commerce, digital tools, and IoT for SMEs. Additionally, the target is to assist at least 100 SMEs in Industry 4.0 implementation.
• The launch of the Industrial Policy 2024-29 highlights the state’s focus on sustainable and inclusive development. These policies are designed to boost sunrise sectors like EVs, aerospace, and semiconductors and promote green practices like Zero Liquid Discharge (ZLD) and renewable energy.
• The AI-powered Single Window System to be launched will facilitate a seamless experience for investors by integrating land allocation tools, a grievance redressal mechanism, and application processes under one platform. Features like multi-lingual AI chatbots and GIS-based tools will support investor decision-making.
• A dedicated SME Connect portal already launched leverages AI-driven algorithms to connect SMEs with the right partners, buyers, and investors. It will also facilitate participation in buyer-seller meetings, exhibitions, and technical workshops.
• Success Story Booklet aims to highlight Karnataka’s accomplishments across sectors like aerospace, biotech, and renewable energy. It will showcase success stories of both multinational companies and local startups, positioning the state as a hub of innovation and industrial excellence.
• The Future of Innovation Expo focusing on cutting-edge advancements in mobility, healthcare, R&D, and precision manufacturing will provide attendees with a glimpse of Karnataka’s technological prowess.
• VentuRISE Global Startup Challenge, as part of the startup-focused initiatives, will engage startups in manufacturing and green technologies, offering exposure, funding opportunities, and collaboration with global experts.

What initiatives are being taken to support SMEs through Invest Karnataka 2025?

As part of the Global Investors Meet: Invest Karnataka 2025, we have launched SME Connect, a comprehensive initiative aimed at empowering small and medium enterprises (SMEs) across Karnataka. This program is designed to address critical challenges faced by SMEs and equip them with the tools and opportunities needed for growth and success.

 Key Components of SME Connect:

1. SME Connect Portal

A dedicated digital platform that connects MSMEs with buyers, investors, and policymakers

• Facilitates AI-powered matchmaking through buyer-seller meetings and vendor development programs, integrating SMEs into larger supply chains.
• Addresses challenges like limited market access, financial constraints, and technological gaps by offering essential resources, expert guidance, and industry engagement opportunities.

2. Industry 4.0 Training Sessions
   In partnership with NASSCOM and K-Tech, these focused training programs are designed to help MSMEs adopt digital transformation and advanced manufacturing technologies.

• Equips SMEs with skills to stay competitive in a rapidly evolving industrial landscape.
• Promotes adoption of smart technologies to streamline operations and enhance productivity.

3. Dedicated SME Showcase at GIM 2025

A dedicated space at the event allows SMEs to

• Exhibit their products and services to potential buyers and investors, increasing visibility and fostering collaborations with larger enterprises.
• Engage directly with global stakeholders, opening doors for partnerships and market expansion.

Through SME Connect, we aim to strengthen Karnataka’s vibrant SME ecosystem, encouraging innovation, collaboration, and growth. This initiative underscores our commitment to enabling SMEs to thrive in a competitive global economy, driving inclusive and sustainable development across the state.

Could you elaborate on the VentuRISE – Global Startup Challenge, including its objectives, key focus areas, and opportunities for participating startups?

 The second edition of VentuRISE: The Global Startup Challenge reinforces Karnataka’s reputation as India’s startup capital by providing a platform for startups to showcase their innovations. This initiative is designed to engage global investors, promote strategic collaborations, and offer startups access to funding, mentorship, and a thriving ecosystem to scale and succeed globally. 

Also Read | Karnataka Leading India’s Innovation and Investment Landscape

Building on the success of the inaugural edition, the Government of Karnataka, in collaboration with TiE Global and TiE Bangalore, has expanded the scope and rewards of VentuRISE 2025. This year, each of the three focus sectors—Aerospace & Defence, Electronic System Design and Manufacturing (ESDM), and Clean Mobility—will award a grand prize of $100,000, compared to the previous year’s prize pool of $100,000 distributed across all tracks.

 Key Highlights of VentuRISE 2025 include

• Sector-Specific Problem Solving: Startups were invited to address critical industry challenges across ESDM, Clean Mobility, and Aerospace & Defence, with over 900 applications received from innovative teams globally.
• Focused Support for Growth-Stage Startups: With 45 shortlisted startups, the event provides a unique opportunity for entrepreneurs to pitch their solutions to a panel of experts while networking with investors and industry leaders.
• Integration with Global Investors Meet: Held as part of Invest Karnataka 2025, VentuRISE creates a collaborative environment that highlights Karnataka’s role as a global hub for entrepreneurial excellence.

These initiatives, paired with Karnataka’s targeted policies, world-class infrastructure, and strategic partnerships, showcase the state’s commitment to promoting innovation and supporting entrepreneurship. By enabling startups and SMEs to thrive, the state drives economic growth and solidifies its position as a premier global investment state.

How has Karnataka’s economic performance evolved in recent years, and what are the key factors driving its growth?

Karnataka has continued to excel as a top-performing state in India, driving economic growth through a combination of innovative policies, infrastructure development, and strategic investments. The state has solidified its position as a global hub for technology, manufacturing, and sustainability, supported by key initiatives that have shaped its economic trajectory in recent years.

1. Investment Magnet

• Karnataka has successfully attracted significant global investments, including commitments worth $3 billion through roadshows in Japan, South Korea, and the USA.
• Strategic partnerships with companies like Foxconn, Exide, and Toyota Kirloskar have further strengthened the state’s industrial base across sectors such as aerospace, semiconductors, and green energy​​. 

2. Leadership in Technology and Innovation

• Karnataka accounts for over 40% of India’s unicorns, showcasing its dominance in the startup ecosystem.
• The state has invested heavily in building a robust R&D ecosystem, supported by 400+ Global Capability Centers (GCCs) and partnerships with institutions like IISc and IIT​​.

3. Industrial Growth and Inclusivity

• The Industrial Policy 2024-2029 focuses on sustainable and inclusive growth, offering zone-based incentives to encourage investments in Tier 2 and Tier 3 cities. This approach has accelerated regional development and distributed economic opportunities beyond Bengaluru​.
• Dedicated industrial clusters, such as the aerospace cluster in Devanahalli and the electronics manufacturing cluster in Dharwad, have been established to boost sector-specific growth​​.

4. SME Connect

Through the SME Connect initiative, the government has empowered over 2,000 MSMEs with training and resources, enhancing their global competitiveness​​.

5. Future-Ready Infrastructure:

Karnataka’s commitment to infrastructure upgrades, such as the Bangalore-Chennai Industrial Corridor and Knowledge, Well-being, and Innovation City (KWIN City), ensures sustained economic competitiveness​.

How does Invest Karnataka 2025 plan to foster innovation and technological advancement?

Invest Karnataka 2025 is strategically designed to position the state as a global leader in innovation and technology by leveraging its strengths in R&D, emerging technologies, and a thriving startup ecosystem. The event focuses on creating a collaborative platform that drives transformative advancements across key sectors.

1. Future of Innovation Expo
   A centerpiece of the summit, the Future of Innovation Expo will showcase cutting-edge advancements in mobility, aerospace, healthcare, semiconductors, and renewable energy. This platform allows investors and global leaders to directly engage with emerging technologies, fostering partnerships and investment opportunities​​.
2. Support for Startups and SMEs
   The VentuRISE Global Startup Challenge, a flagship initiative of the summit, is designed to spotlight innovative startups in sectors like clean mobility, aerospace, and ESDM (Electronics System Design and Manufacturing). By providing mentorship, funding, and networking opportunities, this program empowers startups to scale their solutions globally​​. Additionally, the SME Connect 2025 platform supports SMEs in adopting Industry 4.0 technologies through hands-on training, buyer-seller meetings, and AI-driven matchmaking, helping them integrate into global supply chains​.
3. Focus on Emerging Technologies
   Dedicated sessions and sector-specific roundtables will address cutting-edge areas such as AI, green mobility and space technology. These discussions will bring together policymakers, industry leaders, and investors to shape the roadmap for innovation-driven industries​​.
4. Enabling Infrastructure for Technology Growth
   Karnataka is enhancing its infrastructure to support tech-driven industries with initiatives like:

• Knowledge, Well-being, and Innovation City (KWIN City), which will focus on future mobility, life sciences, and advanced manufacturing​.
• Cluster-Based Industrial Zones are dedicated to sectors like aerospace, defence, and electronics​​.

5. Policy and Incentive Support
   The launch of the Industrial Policy 2024-2029 will provide targeted incentives, such as production-linked benefits, for innovation-driven sectors like semiconductors and renewable energy. These policies ensure Karnataka remains competitive on a global scale​​.

Through these initiatives, Invest Karnataka 2025 not only fosters innovation but also reinforces Karnataka’s reputation as India’s hub for technology and future-focused industries. The summit aims to drive collaborative growth, catalyse technological advancements, and attract investments that will define the industries of tomorrow.

What are some of the major investments secured by Karnataka recently?

Since April 2023, Karnataka has attracted over ₹1.15 lakh crore in investments, highlighting its position as a preferred state for global and domestic enterprises. Some of the marquee investments include:

• Foxconn: ₹22,000 crore for establishing an iPhone assembly unit on a 300-acre site.
• JSW Energy: ₹4,960 crore for a 600 MW captive wind power generation plant.
• Toyota Kirloskar: ₹3,700 crore for the expansion of manufacturing facilities and related operations.
• Exide: Rs. 4000 cr. for setting up Gigafactory
• Hero Future Energies: 11,000 Cr. across projects in renewable energy, Green hydrogen and its derivatives
• Air India: ₹1,750 crore for setting up a state-of-the-art MRO (Maintenance, Repair, and Overhaul) facility.

In addition, Karnataka shall be announcing few key confirmed investments during GIM.

Karnataka also has a robust pipeline of investment leads exceeding ₹1 lakh crore, spanning various high-growth sectors, further strengthening the state’s industrial ecosystem.

How has Karnataka prepared to attract global investments through roadshows?

Karnataka has actively engaged with global stakeholders through targeted roadshows, achieving significant results:

• Strategic Engagements: Conducted International roadshows in Japan, South Korea, the USA, and Europe, engaging with over 200 companies and securing $3 billion in investment interest​​.
• Focus on Emerging Sectors: Highlighted opportunities in sectors like clean mobility, semiconductors, aerospace, and advanced manufacturing during B2G and G2G meetings​.
• Country-Specific Zones: Promoted initiatives like the Japanese Industrial Township in Tumakuru and partnerships with South Korea to encourage regional development​.
• Showcasing Karnataka’s Ecosystem: Demonstrated the state’s policy incentives, infrastructure readiness, and innovation capabilities through sessions and presentations​​.

What sector-specific initiatives have been introduced by the Government of Karnataka?

 Karnataka has launched multiple initiatives to promote sector-specific growth:

• Sector specific policies such as Aerospace & Defence policy, ESDM policy, etc.
• Sector-specific Clusters: Karnataka is promoting sector-specific industrial clusters to attract investments such as the Aerospace and Defense cluster in Belagavi, EV Cluster in Chikkaballapur, FMCG cluster in Hubbali – Dharwad, electronics manufacturing cluster in Mysuru and Dharwad, etc.
• Vision Groups have been formed for major sectors to help assist in identifying action plans for each sector.

What is KWIN City, and how does it contribute to Karnataka’s industrial and economic growth?

KWIN City (Knowledge, Well-being, and Innovation City) is a futuristic urban ecosystem designed for high-growth industries such as AI, semiconductors, aerospace, and healthcare. Built around a “walk-to-work” model, it promotes innovation while prioritising sustainability. The city is strategically planned to support emerging sectors like life sciences, future mobility, and advanced manufacturing, positioning Karnataka as a hub for cutting-edge industries. This initiative not only enhances the state’s industrial output but also creates new employment opportunities and improves regional connectivity.

Also Read | Karnataka’s Vision for Innovation, Industry, and Investment

What is SWIFT City, and how will it strengthen Karnataka’s startup ecosystem?

SWIFT City is a groundbreaking initiative aimed at transforming the Sarjapura Industrial Area into a high-tech startup hub. This future-ready ecosystem will drive innovation and economic growth across multiple high-impact sectors. It offers flexible business models such as lease, rent, and equity-based arrangements to accommodate startups at various growth stages. Additionally, SWIFT City will feature state-of-the-art infrastructure, including co-working spaces, plug-and-play facilities, and modern workspaces designed to enhance productivity and collaboration. As a centre for AI, data analytics, and fintech innovation, SWIFT City will attract cutting-edge businesses and reinforce Karnataka’s position as a leading technology and startup hub.

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