Bengaluru: The State Government signed a memorandum of understanding (MoU) with Lulu International Group for an investment of Rs. 2,000 Crore in the presence of Chief Minister Basavaraj Bommai at the World Economic Forum (WEF) meeting in Davos, Switzerland, on Monday May 23.
The Chief Minister also met with executives from companies including as Jubilant Group, Hitachi, Hero Motocorp, and Siemens.
Malls are expected to open in Mangaluru, Hubballi-Dharawad, and Mysuru as part of the government’s ‘Beyond Bengaluru’ initiative.
#Karnataka signed an MoU with #LuluGroup for establishing shopping malls, hypermarkets and export oriented food stores. These malls will be set up in #Tier2 cities and will generate 10,000+ employment opportunities. #WEF2022 #KarnatakaAtDavos #BuildForTheWorld @LuLuGroup_India pic.twitter.com/4XLk2KIB10
— Basavaraj S Bommai (@BSBommai) May 23, 2022
The Chief Minister’s office said in a statement that it is also interested in establishing export-oriented food units in Karnataka, with the projects likely to employ 10,000 people.
Industries Minister Murugesh Nirani, Additional Chief Secretary in the Department of Commerce and Industry E. V. Ramana Reddy, CM’s Principal Secretary N. Manjunath Prasad, Commissioner of Industries Gunjan Krishna, and others were present.