Karnataka Aims for 24 GW Power Capacity and ₹3 Lakh Crore Investment in Upcoming Plan

Karnataka is planning to build around 24 gigawatts of power capacity over the next five years with an investment of more than three lakh crore rupees in the power sector alone. Chief Minister D.K. Shivakumar announced this target on Thursday while speaking at the curtain-raiser event for the Global Investors Meet, which will take place in Bengaluru from April 20 to 22, 2027.

Growth and Sectors

The State government wants to turn Karnataka into a clean industrial hub by focusing heavily on renewable energy and sustainable development. Apart from traditional strengths in information technology and biotechnology, officials are pushing investments into aerospace, semiconductors, machine tools, and electric mobility. The aerospace and defence sector alone has already drawn investments of over sixty thousand crore rupees and created around sixty thousand jobs, while the government aims to generate five lakh more jobs.

Spreading Beyond Bengaluru

To balance industrial growth across different regions, the government is improving infrastructure in cities like Mysuru, Mangaluru, Hubballi, Tumakuru, and Kalaburagi. Minister for Large and Medium Industries M.B. Patil stated that the State secured investment commitments worth about ten lakh twenty-seven thousand crore rupees at the previous summit and successfully converted about 65 percent of those manufacturing commitments into actual projects on the ground.

Context

Karnataka has a long history of industrial and power development, having set up Asia's first hydroelectric power plant at Shivanasamudra in 1902. Large-scale investor meets serve as platforms for State governments to pitch infrastructure readiness, ease of doing business reforms, and sectoral incentives to global and domestic trade bodies.