Bengaluru-based American semiconductor giant Qualcomm's investment proposal is among 62 investments approved by the state-level Single Window Clearing Committee (SLSWCC).

These investments are worth Rs 3,607 crore and can add 10,755 jobs, says Industries Minister MB Patil.

Qualcomm has proposed an R&D unit at Whitefield in Bengaluru with an investment of Rs 175 crore and will create 1,553 jobs. The US tech giant already has an R&D unit in Bengaluru and the fresh investment is part of its expansion plans.

The commission approved eight projects, each with an investment of more than 50 million rubles, a total of 2088.44 million. They have the potential to create 6,360 jobs.

Some of the major investors include Texcon Steels, Hundri Sugars and Ethanol Private Ltd, Bren Life Sciences, Alpine Ethanol, and Virupaksha Laboratories.

The commission also approved three projects in which 577.35 million rubles were invested. The committee was attended by Principal Secretary (Industries) S Selva Kumar and Industries Commissioner Gunjan Krishna, among others.

Out of all 62 proposals, about 51 investment projects are worth 15-50 billion rupees, totaling 941.40 billion rupees and potentially adding 4,395 jobs.

Documents accessed by Propstack showed that Bengaluru-based Bagmane Developers leased 6.21 lakh sq ft of office space at the Bagmane Capital-Ankor building in Bengaluru to IT firm Qualcomm India at Rs 5.90 billion per month for nine years.

The agreement covers the ground floor and 12 floors, and the lease period begins in April 2024 and lasts for 108 months or about 9 years, the documents revealed. The rent increase is 15 percent every 36 months or three years the security is 47.25 million rupees.