STEER World Signs INR 200 Crore MoU with Karnataka Government to Boost Sustainable Manufacturing
STEER World has officially signed a Memorandum of Understanding (MoU) with the Government of Karnataka, pledging a substantial INR 200 crore investment to be allocated over the next five years. This significant announcement aims to catalyse innovation, foster industrial growth, and promote sustainable practices within India’s manufacturing sector.
March 05, 2025. By News Bureau
This investment strengthens India’s position in advanced manufacturing while promoting long-term sustainability in production processes. This initiative will focus on key areas such as the development of sustainable materials, advancements in automation technologies, and fostering industrial innovation through cutting-edge practices.
The project is expected to create over 300 high-skilled jobs, contributing significantly to local employment and enhancing the workforce's capabilities in advanced manufacturing. In addition, STEER World aims to collaborate with the Government of Karnataka, leading research institutions, and industry stakeholders to drive the development of next-generation technologies and solutions.
This investment aligns seamlessly with India's National Manufacturing Mission and the Make in India initiative, accelerating the country’s ambition to become a USD 1 trillion manufacturing economy by the year 2026. The focus will be on creating a resilient manufacturing ecosystem that prioritizes environmental sustainability and social responsibility.
The MoU was formalized in a ceremony attended by prominent dignitaries, with Dr. Babu Padmanabhan, Founder, Managing Director, and Chief Knowledge Officer of STEER World, signing alongside Dr. S. Selvakumar, Principal Secretary of the Commerce and Industries Department, Government of Karnataka.
Commenting on this milestone, Dr. Babu Padmanabhan said, “This strategic investment represents not just a commitment to economic growth, but also our dedication to global sustainability goals. Karnataka's dynamic ecosystem, characterised by its innovative spirit and supportive infrastructure, makes it the ideal location for our expansion.”
The Government of Karnataka has been a leader in fostering industrial and technological advancements, with Invest Karnataka 2025 attracting over INR 10 lakh crore in investments. This latest commitment by STEER World underscores the state’s role as a premier hub for innovation and sustainable growth.
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