The recently concluded Invest Karnataka, the global investors meet in Bengaluru, saw the Karnataka government signing memorandums of understanding (MoUs) for investments worth Rs 26,638 crore in Mysuru district. These MoUs, signed with six companies, are expected to generate 6,300 work opportunities.

The energy sector attracted the highest investment proposals. Among them, Essar Renewables committed Rs 20,000 crore towards renewable energy, supporting the development of approx. 2.5 GW of renewable projects integrated with battery energy storage systems (BESS).

A spokesperson for Essar Renewables stated, "The investment will provide a range of renewable energy solutions, including solar power, firm and dispatchable renewable energy, and round-the-clock renewable power to distribution companies. Additionally, these projects will meet the captive energy needs of Essar." The company is already involved in developing over 300 MW of solar power projects in the state.

Other MoUs include investments in the food and agri-business and general engineering sectors. Additionally, in the neighbouring district of Chamarajanagar, two companies will invest Rs 2,750 crore. During the ongoing State Legislative Council session, Medium and Large Scale Industries Minister MB Patil responded to a question raised by MLC SV Sankanur, providing details of these investments. On the proposed Knowledge and Innovation (KWIN) City in Mysuru, he said that there is currently no such proposal for Mysuru. However, he assured that after implementing the project in Bengaluru, the government would consider setting up the KWIN City in Mysuru based on demand.