Belagavi district is set to secure a major share of the investments announced during the Invest Karnataka summit, according to a statement from Industries Minister M.B. Patil.
A total of 10 companies, including one based in Canada, have signed Memorandums of Understanding (MoUs) with the state government to invest ₹28,495 crore in the border district. These investments are expected to generate over 12,000 direct jobs and more than 100,000 indirect jobs, the minister said.
Among the investors is Canada-based Magellan Aerospace Limited, which has committed ₹115 crore to establish operations in the aerospace and defense sector. The largest investment is from Hero Posture Energies Ltd., which plans to invest ₹22,200 crore and has requested 150 acres at Kittur Industrial Estate for the project, said Deputy Commissioner Mohammad Roshan.
The influx of ₹28,000 crore in capital marks a significant boost to Belagavi, complementing earlier industrial projects in Hubballi, Dharwad, and Vijayapura districts. Industries Minister M.B. Patil highlighted this development on social media, describing Belagavi as entering a new era of industrial growth.
He noted that the investments span various sectors including defense, agriculture, food processing, and sustainable energy, which will directly create more than 12,500 jobs and indirectly generate thousands more. This growth is expected to benefit small businesses and open new opportunities in the region.
Patil emphasized that Belagavi is emerging as a major industrial hub in South India, supported by the government’s business-friendly policies and world-class infrastructure. This transformation is anticipated to positively impact the district’s economy, employment, infrastructure, health, and education sectors, benefiting the people of North Karnataka.
The Invest Karnataka 2025 conference held in Bengaluru attracted numerous foreign companies and investors, resulting in 21 major investment agreements. Several companies have already begun investing, with Belagavi district receiving a significant share of the capital commitments, the minister added.
