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Karnataka will soon form a company called ‘Invest Karnataka’ to promote the State as an investment destination. The company will be run jointly by eminent personalities in the government and the private sector.
“The proposal to set up the company has been cleared by the Cabinet and is now going through the process of being registered. Karnataka is the first State to form a company which will be led by industrialists,” said Minister for Industries and Tourism RV Deshpande.
Board members Of the nine directors of the new company, six will be from industry. The CEO will be a professional from the industry. The Industries Minister will be the Chairman of Invest Karnataka.
Speaking to reporters after a meeting with the cofounder and executive chairman of Flipkart Sachin Bansal, Deshpande said industry leaders could do a good job of marketing the State. “Their job is to attract investments into the State from within the country and the rest of the world. Singapore also follows the same system,” he added.
Asked about his meeting with Bansal, Deshpande said, “Sachin is meeting me for the first time and has no immediate expectation from me. He told me about e-commerce and the essential policies related to e-commerce. He assured me that Flipkart would continue to invest in Karnataka where the company already employs 5,000 people. I told him to interact with his senior friends in the industry and come back to me with feedback on how best we can address the issues faced by them.”
Infra bottlenecks The Minister proactively brought up the issue of infrastructure not keeping pace with the growth of Bengaluru and assured Bansal that the government would address those issues.
“On the infrastructure front, nothing can be done immediately. Things are happening, but we need to speed them up. The ecommerce industry is big and Karnataka leads in ecommerce. Bengaluru has the best ecosystem for ecommerce and other businesses. We have to continue to create a conducive atmosphere here and we are here to do it,” he said.
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