'We Compete Globally Not With Other States': Karnataka Minister MB Patil At Rising Bharat Summit
'We Compete Globally Not With Other States': Karnataka Minister MB Patil At Rising Bharat Summit Published By, Last Updated: July 24, 2026, 16:39 IST The
'We Compete Globally Not With Other States': Karnataka Minister MB Patil At Rising Bharat Summit Published By, Last Updated: July 24, 2026, 16:39 IST The Karnataka Minister said that the state government has initiated a review of investment MoUs to distinguish projects that are progressing from those that remain on paper. Rapid Read MP Patil announced plans to establish a semiconductor park near Bengaluru airport to strengthen the state's semiconductor ecosystem. Rising Bharat Summit: Karnataka Industries and Infrastructure Minister MB Patil on Friday said that Karnataka competes with global investment destinations rather than other Indian states, highlighting Karnataka’s focus on manufacturing, semiconductors, talent and ease of doing business. While speaking at News18’s Rising Bharat India Summit (South Edition), Patil said the state was positioning itself as a global investment hub by building on its strong industrial ecosystem. “We are not countering any states; we compete globally," Patil said, adding that Karnataka’s emphasis remains on attracting high-quality investments from across the world.
The Karnataka Minister said that the state government has initiated a review of investment memoranda of understanding (MoUs) to distinguish projects that are progressing from those that remain on paper. “Whatever MoUs we sign, we should translate into investments. We signed worth over Rs 10 lakh crore and we have realised around Rs 5 lakh crore now," he said. Patil further said that Karnataka is in discussions with companies shortlisted under the Centre’s Semiconductor Mission 2 and announced plans to establish a semiconductor park near Bengaluru airport to strengthen the state’s semiconductor ecosystem. Highlighting Bengaluru’s position as a technology hub, he said the city is home to 875 Global Capability Centres (GCCs) and stressed that product design carried out in Karnataka should eventually translate into manufacturing within the state. “When you design here, it should translate into manufacturing later," he said. The minister also announced that Karnataka has signed its first memorandum of understanding with Toyota for the proposed Kwin City project, where seven to eight foreign universities are also expected to establish campuses.
On industrial expansion, Patil said land acquisition should strike a balance between industrial development and farmers’ interests, adding that the government aims to prioritise land that is not suitable for agriculture. He credited Karnataka’s educational institutions for creating India’s deep talent pool over several decades and said the state’s economy extends well beyond the information technology sector, with strengths in industries such as aerospace, advanced manufacturing and electronics. Earlier today, Telangana IT and Industries Minister D Sridhar Babu said that Hyderabad views Karnataka as a “healthy competitor" in attracting investments. “We see Karnataka as a healthy competitor. Most investors identify the land, talent and infrastructure available across different states before making investment decisions," he said. The IT Minister said that the Telangana government has focused on talent creation over the past two to three years to prepare the workforce for global industries. News18 Newsletter Handpicked stories, in your inbox A newsletter with the best of our journalism submit About the Author Shobhit Gupta Shobhit Gupta is a sub-editor at News18.com and covers India and International news.
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