Accel’s Prashanth Prakash, Zerodha’s Nikhil Kamath Join Karnataka's Strategic Investments Committee

SUMMARY

The Karnataka State Industries Department has announced the reconstituted board of the Invest Karnataka Forum (IKF) which includes Zetwerk cofounder as a member

In a further initiative, the Karnataka government has instituted the Strategic Investments Committee (SIC) under the leadership of Chairperson MB Patil

The Strategic Investments Committee (SIC), chaired by MB Patil, includes Mruthyunjaya Hiremath, director of AMD, Prashanth Prakash, MD of Accel Partners, Nikhil Kamath, Zerodha cofounder as members, among others

In response to the dynamic changes unfolding in the global industrial landscape, the Karnataka State Industries Department has announced the reconstituted board of the Invest Karnataka Forum (IKF). The state government has also instituted the Strategic Investments Committee (SIC) under the leadership of Chairperson MB Patil, Karnataka Industries Minister.

The committee is composed of professionals spanning diverse sectors, including private equity, venture capital firms, startups, philanthropic organisations, and industry experts as members, including — Mruthyunjaya Hiremath, director of AMD, Accel’s Prashanth Prakash, Nikhil Kamath of Zerodha, among others.

The government has also nominated Sajjan Jindal, the chairman and managing director of JSW Limited as a director to the board of IKF.

Other notable industry nominees for IKF include Geetanjali Kirloskar, chairperson and MD of Kirloskar Systems (auto sector), Arvind Melligeri, chairman and CEO of Aequs Inc. (aerospace and defence), Ankit Fatehpuria, cofounder of Zetwerk (manufacturing support services machine yools sector), and Vijay Krishnan Venkatesan, MD of Kennametal (machine tools sector).

“I have reconstituted the ‘Invest Karnataka Forum’ with the aim of attracting more capital to the state. Under the esteemed leadership of Shri Sajjan Jindal, we are reviving the ‘Invest Karnataka Forum’ (#IKF) to enhance our ability to attract investments and broaden our global market presence,” Patil said on X.

The Invest Karnataka Forum (IKF) will work under the leadership of Patil. The newly reconstituted board’s primary objective is to foster the growth of the state’s industrial landscape and offer innovative strategies to draw investments into Karnataka.

The Karnataka government has taken proactive steps to foster innovation and entrepreneurship within the state. The state’s approach involves cultivating a vibrant business ecosystem by providing necessary infrastructure and support. Additionally, the government’s policies and initiatives have been structured to attract investments and facilitate economic growth.

This announcement comes a few days after the Karnataka government said that tech giant Dell is considering fresh investment in its research and development (R&D) centre in Bengaluru. The officials of the company expressed their interest in making further investments in Bengaluru during their meeting with minister MB Patil, who was on a visit to the US.