Bengaluru, March 05, 2025: STEER World, a global leader in advanced materials and sustainable manufacturing solutions, has officially signed a Memorandum of Understanding (MoU) with the Government of Karnataka, pledging a substantial ₹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.

Key Highlights of the Investment:

• ₹200 Crore Investment: This investment not only reinforces India’s competitive stance in advanced manufacturing but also marks a pivotal step towards achieving long-term sustainability in production processes.
• Focus Areas: The initiative will target several strategic domains, including the development of sustainable materials, advancements in automation technologies, and fostering industrial innovation that embraces cutting-edge practices.
• Job Creation: The project is expected to generate over 300 high-skilled jobs, significantly contributing to local employment and enhancing the workforce’s capabilities in advanced manufacturing techniques.
• Strategic Collaboration: STEER World aims to foster partnerships with the Government of Karnataka, leading research institutions, and industry stakeholders to pave the way for the development of next-generation technologies and solutions.

This investment aligns seamlessly with India’s National Manufacturing Mission and the Make in Indiainitiative, accelerating the country’s ambition to become a $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 ₹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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