Rs. 3000 cr MoU signed to enhance industrial infra in Karnataka

has signed an MoU to invest INR 3,000 crore in Karnataka to boost its warehousing and logistics sector. The MoU is signed for a period of seven years and promises to generate 14,000 new jobs in Karnataka. The announcement was made at the Invest Karnataka 2022 summit at the Bengaluru Palace grounds and was presided over by Chief Minister Basavaraj Bommai. This investment by IndoSpace will help attract further investments in the state and help meet the increasing demands of industries linked with warehousing and logistics, said official release. Rajesh Jaggi, Vice Chairman – Real Estate, Everstone Group, said, “Karnataka has a vibrant and growing base in sectors like automobile, electronics, aerospace, agriculture, textiles and engineering. We want to help enrich these industries and provide them with world-class warehousing and logistics facilities. Our investment, which is the largest ever in Karnataka, will work towards enhancing the industrial infrastructure in the state. IndoSpace already has significant presence in the state, and we have enabled tenants from sectors such as electronic, automobile, e-commerce, fashion, supply chain and more to grow. At IndoSpace, we are committed to strengthening the Indian economy by meeting the country’s ever-rising demands around industrialisation and the supply chain ecosystem. We look forward to support from the Karnataka government and make a positive impact in the state.”