RPSG Group to Invest Rs 10,500 Crore in Renewable Energy

The Karnataka government has lined up a series of major investment commitments across renewable energy, manufacturing, technology, and skill development sectors during discussions held on the sidelines of the World Economic Forum in Davos.

State Minister for Large and Medium Industries M. B. Patil said on January 22 that the state remains focused on positioning itself as a competitive destination for global and domestic investors amid shifting global trade and technology trends.

RPSG Group to Invest Rs 10,500 Crore in Clean Energy

The RP-Sanjiv Goenka Group has announced plans to invest Rs 10,500 crore over the next three years in Karnataka’s Vijayapura and Ballari districts. 

The InoxGFL Group, which has already begun manufacturing turbine blades for the wind energy sector at its Kustagi facility, is now planning to establish a unit for producing large wind power towers at a nearby location.

According to the minister, the group has already invested around Rs 10,000 crore in Karnataka.

Singapore and Switzerland Partnerships Take Shape

Karnataka is also seeking to attract greater investments from Singapore-based companies in high-technology sectors, including semiconductors, biotechnology, and aerospace. 

Talks were held with representatives of the Singapore Economic Development Board to develop a proposed ‘Singapore Park’ in the state.

To deepen industrial cooperation with Swiss firms, the state government signed a memorandum of understanding with Swiss Chambers India during the summit, in the presence of senior executives from six Swiss companies.

Skills, AI, and Industrial Competitiveness

Schneider Electric has announced plans to establish 20 additional training infrastructure facilities in Karnataka, with a long-term objective of expanding the network to 100 skill development centres across the state.

The importance of skill development centres, especially for renewables, can not be understated. As per a report, India faces a shortfall of 1.2 million skilled professionals, expected to rise as workforce demand grows by 26% through 2027. Meanwhile, the green economy is projected to create 7.29 million jobs by FY28 across manufacturing, project development, storage, grid integration, and services