JSW Group to invest Rs1 lakh crore in Karnataka over 5 years

3 Nov 2022 , 08:57 AM

According to chairman Sajjan Jindal, the steel-to-paints JSW Group will invest Rs1 lakh crore in Karnataka over the next five years across all of the group’s businesses, as reported by ET.

According to Jindal, the investments will go toward the development of a new greenfield port as well as the steel, green energy, cement, and paints industries. In the state where its flagship Vijayanagar steel factory is located, the business group has already made an investment of Rs1 lakh crore.

Karnataka has been a leader in the development of industries and continues to offer a ripe ecosystem that fosters innovation and entrepreneurship at its core, he added.

The steelman also asked state officials to expedite the monetization of natural resources, not only to boost government revenues but also to address supply-side challenges that companies confront.

Given the high standards of education, proactive governance, and efficient policymaking in the state, which has also made Bangalore the start-up capital of India, Karnataka has maintained its position as one of the most sought-after investment destinations in the country, according to him.

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