IETO Director N.S. Venkatesh proposes international investor participation, renewed India–Israel agricultural cooperation and a business delegation to Israel in January 2027.
Bengaluru, November 2026: In a significant initiative aimed at strengthening Karnataka’s industrial economy and attracting international investment, Mr. N.S. Venkatesh, Director of Policy Planning at the Indian Economic Trade Organization (IETO), held discussions with Shri H.D. Kumaraswamy, Hon’ble Union Minister for Heavy Industries and Steel, Government of India, and former Chief Minister of Karnataka.
The meeting focused on exploring opportunities to revive financially distressed and underperforming industrial enterprises in Karnataka, particularly in the heavy engineering and manufacturing sectors, through foreign direct investment, industrial partnerships, technology transfers and international institutional cooperation.
IETO Proposes International Investment for Industrial Revival:
During the meeting, Mr. N.S. Venkatesh highlighted the importance of reviving Karnataka’s traditional industrial strengths while introducing modern technologies, international capital and innovative management practices.
He proposed that IETO could leverage its extensive international network and institutional presence across various countries to identify potential investors, industrial groups, technology providers and financial institutions interested in participating in the revival of financially distressed companies and underutilized manufacturing facilities.
The proposed initiative seeks to create a platform connecting international investors with suitable industrial revival opportunities in Karnataka, subject to the necessary commercial assessments, government approvals and regulatory requirements.
Mr. Venkatesh emphasized that Karnataka possesses a strong industrial foundation, skilled manpower, engineering expertise and established manufacturing infrastructure, making it an attractive destination for investors seeking long-term participation in India’s industrial growth.
The discussions also addressed the potential for restoring operations in dormant industrial units, protecting employment opportunities, upgrading industrial machinery and bringing new technologies into established manufacturing enterprises.
Special Focus on HMT and Public Sector Industrial Revival:
The discussions were particularly relevant in the context of Shri H.D. Kumaraswamy’s ongoing initiatives concerning the revival of Hindustan Machine Tools (HMT) and other public sector manufacturing enterprises.
In June 2026, the Union Minister publicly outlined progress on HMT’s revival strategy, including work on a detailed project report and recommendations from a high-level committee chaired by former NITI Aayog member Dr. V.K. Saraswat.
IETO believes that combining government-led industrial revival programmes with international investment, technological modernization and strategic industrial collaborations could open new possibilities for revitalizing Karnataka’s manufacturing ecosystem.
The organization also expressed interest in facilitating engagement with foreign industrial groups specializing in precision engineering, advanced manufacturing, machinery, industrial automation and related technologies.
Renewing India–Israel Cooperation in Agriculture and Irrigation:
Another important aspect of the meeting was the discussion surrounding Shri H.D. Kumaraswamy’s earlier visit to Israel during his tenure as Chief Minister of Karnataka.
Dr. Asif Iqbal, President of the Indian Economic Trade Organization, had accompanied Shri Kumaraswamy during that visit and helped facilitate introductions to Israeli companies engaged in agricultural technology, irrigation systems and modern farming solutions.
The earlier engagement was aimed at understanding how Israeli innovations in water management, precision irrigation and agricultural productivity could contribute to strengthening Karnataka’s agricultural infrastructure.
Building upon this experience, Mr. Venkatesh proposed renewing institutional and commercial engagement with Israel, particularly in drip irrigation, precision farming, water conservation, agricultural automation and sustainable farm technologies.
Such collaborations could potentially benefit Karnataka’s farming communities by improving water-use efficiency, reducing operational costs and introducing more productive agricultural methods.
IETO Proposes January 2027 Delegation to Israel for Cybertech Global
As part of its international engagement strategy, Mr. N.S. Venkatesh proposed leading an IETO delegation to Israel in January 2027 to participate in Cybertech Global Tel Aviv.
The international cybersecurity conference is scheduled for 25–27 January 2027 at Expo Tel Aviv, bringing together technology companies, policymakers, investors, cybersecurity professionals and innovative startups. Ministry of Foreign Affairs
IETO intends to use the proposed visit to strengthen engagement with Israel’s technological ecosystem, including opportunities in cybersecurity, industrial digitalization, artificial intelligence, critical infrastructure protection and advanced manufacturing technologies.
The organization also referred to its relationship with Mr. Amir Hayek in connection with its Cybertech engagements and wider India–Israel business networking initiatives.
Beyond participation in the technology conference, the proposed delegation would seek meetings with Israeli agricultural technology companies, irrigation specialists, industrial innovation firms and potential investment partners.
The visit is envisaged as an opportunity to connect Karnataka’s industrial modernization priorities with Israeli expertise in innovation and technology.
Dr. Asif Iqbal Commends the Initiative:
Dr. Asif Iqbal, President of the Indian Economic Trade Organization, appreciated the discussions initiated by Mr. N.S. Venkatesh and welcomed the opportunity to deepen engagement with the Union Ministry of Heavy Industries.
Recalling his earlier association with Shri H.D. Kumaraswamy during the latter’s official visit to Israel as Chief Minister of Karnataka, Dr. Iqbal emphasized the importance of maintaining continuity in international economic partnerships and translating diplomatic engagements into tangible industrial and agricultural outcomes.
Dr. Iqbal stated:
“This meeting is a highly commendable initiative. Shri H.D. Kumaraswamy has demonstrated a progressive approach towards strengthening India’s heavy industries sector. His efforts towards the revival of HMT and other public sector industrial enterprises in Karnataka and across the country are particularly significant.Under the leadership of Hon’ble Prime Minister Shri Narendra Modi, these industrial revitalization initiatives have the potential to bring positive outcomes for India’s manufacturing sector, generate employment and strengthen the country’s industrial self-reliance.Having personally accompanied Shri Kumaraswamy during his earlier visit to Israel, I witnessed his interest in bringing advanced irrigation, agricultural and industrial technologies to Karnataka. We believe that renewed international cooperation, supported by foreign investment and technology partnerships, can help transform underperforming industrial enterprises into productive and competitive manufacturing assets.”
Dr. Iqbal further emphasized that industrial revival should not be viewed merely as the reopening of dormant factories, but as an opportunity to transform them into technologically advanced enterprises capable of competing in domestic and international markets.
Diplomatic and Ambassadorial Delegation to Explore Investment Opportunities:
As a follow-up to the discussions, IETO proposes facilitating a delegation comprising diplomats, ambassadors and international business representatives for a meeting with Shri H.D. Kumaraswamy.
The proposed engagement would seek to identify potential industrial investment opportunities and explore possible international participation in the revival of distressed industrial enterprises.
The interaction would also provide an opportunity for diplomatic missions to understand the Government of India’s priorities in heavy industries, manufacturing modernization, industrial technology and foreign investment.
IETO expects these consultations to help establish channels of communication between the Ministry, international investors, diplomatic representatives and industrial stakeholders.
Building a New Framework for Industrial Diplomacy:
The Indian Economic Trade Organization believes that Karnataka can strengthen its role as a manufacturing and technology hub by bringing together industrial policy, international investment, technology partnerships and economic diplomacy.
Through its international networks and trade promotion initiatives, IETO aims to facilitate discussions that encourage productive industrial investment, support employment generation and improve the global competitiveness of Indian enterprises.
The meeting between Mr. N.S. Venkatesh and Shri H.D. Kumaraswamy represents an initial step towards exploring a coordinated framework for industrial revival, international investment facilitation and renewed India–Israel cooperation in agriculture and advanced technologies.
With further diplomatic engagements and the proposed January 2027 delegation to Israel, IETO hopes to translate these discussions into practical opportunities benefiting Karnataka’s industrial and agricultural sectors.
About the Indian Economic Trade Organization (IETO)
The Indian Economic Trade Organization is an international trade promotion organization working to strengthen economic diplomacy, bilateral trade, foreign investment, business delegations and institutional partnerships between India and countries across the world.
Under the leadership of President Dr. Asif Iqbal, IETO works with business communities, trade institutions, international organizations and diplomatic stakeholders to promote cross-border commercial cooperation and investment opportunities.
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