Karnataka Minister for Commerce and Industries MB Patil on Saturday, December 14 announced that the state government will develop SWIFT City (Startups, Workspaces, Intelligence, Finance, & Technology) in Sarjapura near Bengaluru. He said that it would spread across 1,000 acres, close to IT hubs along national highways 44 and 48. The announcement comes after the Knowledge, Wellbeing, and Innovation (KWIN) City project was inaugurated in September this year.
The Minister said that eight to 10 Plug-and-Play facilities, spanning 20 to 25 acres each, state-of-the-art offices, co-working spaces, residential blocks, and schools will be included in the project. He also announced that land parcels from 5,000 to 20,000 sq ft will be made available for startups through lease, sale, or equity-sharing models.
“The project will expand Bengaluru's success statewide with five Mini KWIN Cities, including Vijayapura & Hubballi-Dharwad. It will be a big boost to employment, creating thousands of jobs. More details will be unveiled at Global Investors Meet (GIM) 2025,” he said. The investors’ meet will be conducted in Bengaluru from February 12 to 14, 2025, with the participation of diplomats from various countries.
While inaugurating the KWIN City project in September, Deputy Chief Minister DK Shivakumar had alleged that Prime Minister Narendra Modi rejected the state's proposal to establish a facility similar to Gujarat's GIFT (Gujarat International Finance Tec) City. He also said that Karnataka is capable of advancing its own projects, and that the state contributes more than 40% of India's exports.
“The Chief Minister, two other ministers, and I approached the Prime Minister to request a GIFT City for Karnataka. He refused, saying that it will not be allowed, and that the existing GIFT City will remain the only financial hub,” Shivakumar had said.
KWIN City, spread across 5,800 acres, is located between Dobbaspete and Doddaballapura, 50 kms from the city centre and a 45-minute drive from Bengaluru airport. It aims to generate 1 lakh jobs and accommodate 500,000 residents.