Karnataka Secures ₹2,600-Crore LoIs at Tech Summit, Projects to Generate 3,500 Jobs.

On the second day of the Bengaluru Tech Summit, Karnataka secured letters of intent (LoIs) worth ₹2,600 crore, expected to generate around 3,500 direct and indirect jobs. The agreements span the semiconductor, EV battery, and biotech sectors, with participating companies including the Drone Federation of India, Global HDI, Tsuyo Manufacturing, and MiniMines Cleantech Solutions, among others.

Sharath Kumar Bache Gowda, Chairman of KEONICS, highlighted some of the key initiatives: “We have signed an LoI with the Drone Federation of India to support drone testing and allied industries. We anticipate that this initiative will create anywhere between 500 and 600 jobs around the drone testing facility.”

Among the largest investments, Global HDI has committed to invest ₹1,500 crore in the state. Other companies submitting LoIs include EyeStem Research and Elleve Solutions, reflecting Karnataka’s growing appeal as a hub for high-tech industries.