Bengaluru, Dec 4 (PTI) Karnataka Minister M B Patil on Wednesday said semiconductor manufacturer NXP plans to allocate a "substantial portion" of its Rs 8,400 crore (USD 1 billion) global R&D investment to Bengaluru over the next five years.

The Minister of Large and Medium Scale Industries is leading a delegation in the Netherlands to attract global investment ahead of Invest Karnataka 2025, scheduled for February.

Also Read | Himachal Pradesh Weather Forecast: MeT Department Predicts 10-20% Less Cold Wave Days in Winter.

In a meeting with Maurice Geraets, Executive Director at NXP, Patil explored the company's strategic expansion plans, highlighting Karnataka's pivotal role in advancing global R&D capabilities, the Minister's office said in a release.

Geraets reiterated NXP's commitment to the state and expressed enthusiasm for future collaborations in startups and manpower skilling.

Also Read | Love Triangle Crime in Faridabad: Woman, Paramour Arrested for Killing Her Husband in Uttar Pradesh.

The release added that Patil assured full government support for NXP's initiatives and extended a formal invitation to the company's leadership for Invest Karnataka 2025.

According to the release, further strengthening Karnataka's global ties, Patil engaged with Philips, where discussions focused on the continued expansion of their Innovation Campus in Bengaluru, supported by a Rs 445 crore investment in 2023.

He urged the company to expand its presence with a manufacturing facility in the state, assuring seamless facilitation. The discussion aimed to position Karnataka as a global hub for investment and innovation, with a strong focus on electronics, aerospace, and renewable energy sectors, alongside the ambitious KWIN City initiative.

The delegation also met officials from Signify, formerly Philips Lighting, where Patil emphasised Karnataka's potential as a manufacturing base under the China+1 strategy, encouraging investments to serve both domestic and export markets.

Signify showcased its groundbreaking projects, including the lighting of Vidhana Soudha, and expressed interest in further collaboration, according to the release.

Conversations with Heineken highlighted Karnataka as a strategic market, with discussions focused on policy reforms to accelerate manufacturing investments. Patil also invited Heineken's global leadership to Invest Karnataka 2025, reinforcing the state's pro-business approach.

The Netherlands roadshow highlighted Karnataka's strengths in innovation, semiconductors, renewable energy, and manufacturing, positioning the state as a top-tier destination for global investors at Invest Karnataka 2025, the release added.

(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)