Karnataka targets 24 GW power capacity in five years; plans over ₹3 lakh crore investment

Chief Minister D.K. Shivakumar inaugurating the curtain raiser for Global Investors Meet 2027 in Bengaluru on Thursday. | Photo Credit: special arrangement Karnataka is targeting an installed power capacity of around 24 GW over the next five years, requiring investments of more than ₹3 lakh crore in the power sector alone, indicated Chief Minister D.K. Shivakumar.The Chief Minister on Thursday said the State was looking to expand its energy infrastructure alongside industrial growth, with a focus on renewable energy and sustainable development. The State was also expanding its renewable energy capacity, emphasising the need to align industrial development with sustainability, he said, adding that his government’s ambition was not merely to make Karnataka an industrial hub but also a clean industrial hub.Addressing an audience of investors, potential investors, diplomats, and trade bodies at the curtain-raiser for the Global Investors Meet, scheduled to be held in Bengaluru between April 20 and 22, 2027, Mr. Shivakumar said the proposed investment would be a key component of Karnataka’s next phase of economic expansion.Recalling the State’s pioneering role in electricity generation, he pointed out that Asia’s first hydroelectric power generation facility was established at Shivanasamudra in 1902.Preferred destinationSeeking to position the State as a preferred investment destination, he said Karnataka’s strengths extended beyond information technology and biotechnology to aerospace, semiconductors, machine tools and electric mobility.The government, he further said, was attempting to address regional imbalances in industrial development by encouraging investments outside Bengaluru. Industrial parks, roads, logistics facilities and airport connectivity were being strengthened in cities such as Mysuru, Mangaluru, Hubballi, Tumakuru and Kalaburagi.Mr. Shivakumar said the government already met over 200 investors over five to six months and was committed to resolving bottlenecks in project implementation.Commenting on the scope of aerospace and defence industries, he said the sector had attracted investments exceeding ₹60,000 crore and generated around 60,000 jobs, adding the government was looking to create another 5 lakh employment opportunities.Commitments materialisedMinister for Large and Medium Industries and Infrastructure Development M.B. Patil said that Karnataka converted around 65% of the manufacturing investment commitments received at its previous Global Investors Meet into projects on the ground, with several companies having moved from approvals and land allotments to construction and commercial operations, .Mr. Patil said the State had secured investment commitments of about ₹10.27 lakh crore at the previous summit, adding that the government was now focusing on translating proposals into factories and employment.“The investment has been increasingly spreading beyond Bengaluru. Electronics, aerospace, electric mobility, steel, cement, renewable energy and life sciences were among the sectors witnessing growth,” the Minister said.Suggestions by industry leadersHighlighting changes to the investment facilitation process, Mr. Patil said over 35 of the 55 suggestions by industry leaders during the Uthpadana Manthana consultation had been implemented. The government had introduced a digital industrial land bank through the Karnataka Industrial Areas Development Board (KIADB), allowing prospective investors to identify and shortlist available land online.Under the affidavit-based clearance mechanism introduced through the Karnataka Industries (Facilitation) Act, eligible investors can begin project implementation on the basis of a self-declaration while statutory approvals are processed simultaneously. Dedicated nodal officers have also been assigned to investment proposals.Mr. Patil also said the government would organise international roadshows, country-specific roundtables and a Supplier Conclave ahead of the 2027 summit. A separate investors’ conclave would also be held in North Karnataka to attract investments to Kalyana Karnataka and Kittur Karnataka. Published - November 12, 2026 11:32 pm IST