Karnataka signs investment deals worth US$ 2.6 billion (Rs 22,000 crore) at Davos summit
- IBEF
- January 18, 2024
On the second day of the World Economic Forum 2024, Karnataka inked memoranda of understanding (MOUs) totaling US$ 2.6 billion (Rs 22,000 crore) with industry giants Microsoft, Web Werks, Hitachi, and four other prominent companies. As an official statement highlights, these strategic partnerships are anticipated to propel the state toward a new era of technological advancement, infrastructure development, and economic growth.
Mr. M B Patil, the Minister for Large and Medium Industries and Infrastructure Development, engaged in discussions with key players such as Sony, HP, Nestle, Honeywell, Lulu Group, Inox Group, Takeda Pharma, Coinbase, Tillman Global, BL Agro, and others. The primary focus of these discussions is to establish cutting-edge infrastructure, leveraging the robust existing ecosystem and highly attractive market dynamics prevalent in the region.
One of the significant collaborations involves a Memorandum of Understanding between the Karnataka government and Microsoft, outlining a digital skilling initiative. This initiative, named Microsoft RISE, aims to enhance livelihood opportunities for under-served youth in India, job seekers, individuals with disabilities, small entrepreneurs, and those residing in regions with low workforce participation and remote areas. The digital skilling program is set to provide 70 hours of virtual instructor-led training through its non-profit partner, AISECT.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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