Karnataka Minister M B Patil announced that semiconductor company NXP intends to direct a significant part of its Rs 8,400 crore ($1 billion) global R&D investment towards Bengaluru over the next five years. The Minister, responsible for Large and Medium Scale Industries, is currently in the Netherlands to attract international investments ahead of Invest Karnataka 2025, which is set for February.

In discussions with Maurice Geraets, Executive Director at NXP, Patil highlighted Karnataka's crucial role in enhancing global R&D capabilities. Geraets reaffirmed NXP's dedication to the state and showed eagerness for future partnerships in startups and workforce development. Patil assured full government backing for NXP's projects and formally invited the company's leaders to Invest Karnataka 2025.

Patil also engaged with Philips to discuss expanding their Innovation Campus in Bengaluru, supported by a Rs 445 crore investment in 2023. He encouraged Philips to establish a manufacturing unit in Karnataka, promising smooth facilitation. This dialogue aimed to position Karnataka as a global hub for investment and innovation, focusing on electronics, aerospace, renewable energy, and the ambitious KWIN City initiative.

The delegation met with Signify officials, formerly known as Philips Lighting. Patil emphasised Karnataka's potential as a manufacturing base under the China+1 strategy, urging investments for both domestic and export markets. Signify showcased innovative projects like lighting Vidhana Soudha and expressed interest in further collaboration.