IndoSpace signs landmark MoU with Karnataka to boost warehousing and logistics, creating 14,000 jobs.
IndoSpace, India’s leading developer of Grade A industrial properties, has announced a major investment of ₹3,000 crore in Karnataka’s warehousing and logistics sector. The memorandum of understanding (MoU), revealed during the Invest Karnataka 2022 conference, is the largest of its kind in the state’s history. The seven-year agreement aims to generate approximately 14,000 new jobs and bolster the state’s industrial infrastructure.
Chief Minister Basavaraj Bommai highlighted the strategic importance of this investment, which is expected to enhance the logistics and warehousing capabilities critical to Karnataka’s diverse industrial sectors, including automotive, electronics, and textiles.
Rajesh Jaggi, Vice Chairman of Everstone Group, emphasised that IndoSpace’s commitment will support Karnataka’s growth by providing world-class facilities and meeting the increasing demands of the industrial and supply chain ecosystem. IndoSpace’s established presence in Karnataka includes operational parks in Bommasandra and Nelamangala, with future developments planned.
