Karnataka invites US companies to invest in the state

Karnataka Govt discussed the possibilities of exploring partnerships with various US stakeholders especially in space and semiconductor industries

   
karnataka invites US companies to invest

Minister of Large & Medium Industries & Infrastructure Development M.B. Patil on Monday invited US-based aerospace company RTX Corporation (formerly Raytheon Technologies), and integrated satellite and terrestrial network provider Intelsat to invest in Karnataka.

Minister Patil along with senior officials of the industries department is on a 12-day visit to the US. He is meeting a slew of companies drawn from semiconductor, aerospace & defence auto/EV, space, and Med-tech among others. Dr. S Selvakumar, Principal Secretary, Department of Commerce and Industries, Government of Karnataka and Smt. Gunjan Krishna, Commissioner for Industrial Development and Director, Industries and Commerce, and other officials are accompanying the minister.

During his meeting with the aerospace major RTX Corporation (formerly Raytheon Technologies), Patil also discussed the possibilities of exploring partnerships with the company. The senior leadership of RTX Corporation (formerly Raytheon Technologies) discussed enhancing supply chain connections and considering electronics manufacturing in Karnataka. RTX Corporation subsidiary, Blue Canyon will explore partnerships with space industry startups for technology collaborations. The company also discussed partnering with the government and educational institutions to nurture a talent pipeline.

The $67.1 billion revenue-generating RTX Corporation (formerly Raytheon Technologies), has a presence in India for more than 25 years with an R&D facility, customer training centre along operations and engineering unit in Bengaluru.

Addressing the industry leaders in the USA, Patil said “We are going to meet some of the prestigious companies here in the United States, to understand their requirements and invite them to Karnataka for expansion or collaboration.”

In India, RTX Corporation (formerly Raytheon Technologies) operates through its four divisions — Collins Aerospace, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles and Defense. With a workforce of more than 5,000 professionals, the company is actively involved in design, capability, and engineering centres. Its clientele includes Indian airlines, airports, and commercial manufacturers such as Boeing and Airbus.

Pratt and Whitney inaugurated a new India Engineering Center in Bengaluru in January 2023, co-located with its India Capabilities Center, which was established in 2022 to provide integrated global supply chain support. Raytheon has a manufacturing and two R&D centres in Bengaluru.

The delegation also held discussions with the International Telecommunications Satelite Organization (Intelsat), which has a long history of collaboration with the Indian Space Research Organisation (ISRO). Intelsat discussed the possibilities of expanding the operational scope of its Indian arm and satellite-sourcing opportunities from Indian space startups. The company also discussed exploring collaboration opportunities in software solutions and the role of AI/ML in satellite communications.

Intelsat also discussed the possibility of establishing a global capability centre as part of its long-term planning in India.

Separately, at the US India SME Council Meet, Patil interacted with about 30 CEOs from various sectors and invited them to invest in Karnataka. The Minister shared investment opportunities in sectors like Medtech, ITBT, education, automobile, A&D, and ESDM with the CEOs and invited them to invest in Karnataka and explore opportunities in the state.

The minister held a discussion with Elisha Pulivarti, CEO and president, of the U.S. India SME Council, Rajan Natarajan, CEO and founder of Global Alliance, and Marc Elrich, Executive for Government of Montgomery County of Maryland.

During the meeting, Patil was awarded the Outstanding Business Promotion Award in recognition of his outstanding leadership in promoting business and investment for the development of the State of Karnataka.

US India SME Council is a non-profit membership-based organisation dedicated to fostering economic and business relations between the United States and India, mainly focusing on small and medium-sized enterprises (SMEs).

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