Big bucks coming! US cos keen on investing Rs 25,000 cr in K'taka

Bengaluru, NT Bureau: In a boost for the new Karnataka government, several American companies have evinced interest to invest around Rs 25,000 crore in the state.

Jointly addressing a press conference regarding the outcome of the visit by a business promotion delegation headed by them to the US, by Large and Medium Industries Minister M B Patil and Electronics & IT/ BT Minister Priyank Kharge said some of the companies are already in the process of investing around USD one billion in the state.

"While some companies have planned to commence their operations here some others have proposed to expand their already existing operations. Our discussions primarily focussed on semiconductors, aerospace and defence, electric vehicles, space, and precision manufacturing," Patil said.

Discussions were held with Applied Materials, AMD, Juniper, Global Foundries, LAM Research, Boeing, Krypton, Dell, MKS Instruments, GE Healthcare, Intelsat, RTX, Teradyne & Texas Instruments.