Anand Mahindra, Chairperson, Mahindra & Mahindra Ltd, announced an investment of ₹40,000 crore in Karnataka over the next five years. This investment spans renewable energy, tourism and hospitality, aerospace and defence, electric three-wheeler manufacturing, and real estate.
The Mahindra Group currently has real estate projects worth ₹5,000 crore underway in Bengaluru, with plans to invest an additional ₹6,000 crore shortly.
Speaking at the Global Investors Meet (GIM) 2025, he shared, “Our involvement with Karnataka is deeply rooted and firmly intertwined. Most of our major businesses including the jewels in our corporate crown like automotive, IT, farm equipment, financial services, and hospitality have operations here. Our group employs over 25,000 people directly. Our relationship has flourished over the years thanks to the nurturing, encouragement, and support provided by the Karnataka government. Policies like the New Industrial Policy and the GCC policy showcase this supportive outlook. This approach to business gives us faith in our future here. We have no hesitation in investing in long gestation businesses like renewable energy, aerospace, hospitality, and real estate in Karnataka.”
Alongside, Sajjan Jindal, the Chairman of JSW Group announced an investment of over ₹1 lakh crore in Karnataka in the coming years. Of this, ₹43,000 crore will be allocated to the steel manufacturing sector, while ₹56,000 crore will be invested in hospitality, solar power, clean energy, and green hydrogen projects, Jindal announced.
“The JSW group has a deep-rooted connection with Karnataka. Many of our businesses — steel, energy, infrastructure, cement, and paints started here. We are committed to making Vijaynagar the world’s largest and most advanced steel plant. This ₹43,000 crore investment will expand capacity, implement cutting edge AI and robotics and lead the world into producing high-quality steel,” he shared at the event.
According to a report by The Hindu, JSW Infrastructure, a commercial port company part of JSW Group, emerged as the winning bidder for the development of an all-weather, deep-water, greenfield port at Keni in Karnataka on public-private partnership basis in November 2023.
Other announcements made include a ₹54,000 cr investment for an integrated steel plant by Baldota Steel & Power Ltd, a ₹50,000 cr. investment for the development of renewable energy power projects and rooftop solutions across the State by Tata Power Renewable Energy Ltd, a ₹22,200 cr. investment for projects in renewable energy, green hydrogen, and its derivatives by Hero Future Energies, a ₹21,950 cr. investment for wind power projects by Suzlon Energy Ltd, and ₹10,000 cr investment for semiconductor equipment manufacturing by Lam Research.
