Karnataka draws $ 54.5 bn FDI, leads nation : CII

Karnataka has emerged as the top investment destination in India, attracting USD 54.5 billion in foreign direct investment (FDI) in recent years — accounting for 21 per cent of the country’s total inflows — with high-growth sectors like IT, aerospace, mobile manufacturing, and semi-conductors leading the way, the Confederation of Indian Industry (CII) Karnataka Chapter said on Thursday.

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Speaking at an interactive session, the Cll Karnataka State Council chairman Rabindra Srikantan said the bulk of the investment was seen across the services and manufacturing sectors, especially in Bengaluru and its surrounding industrial clusters.

“IT and technology services continue to dominate, but we've also seen large capital flows into high-precision manufacturing, defence and aerospace, semiconductor facilities, and mobile phone assembly units,” he said replying to UNI queries.

Though the chairman did not provide a sector-wise breakup of the FDI, he assured that Cll would compile and share the data. “The exact numbers are with the government and we are in continuous dialogue with them. We will share the segmented data once it is available,” he noted.

Responding to a question about the state government's 2020-25 industrial policy, which aims to create 20 lakh new jobs, the chairman acknowledged that Cll does not have verified data on how many jobs have been created so far. “This is a government projection. The right forum for the data would be the state industries department. Once shared with us, we will make it public,” he said.