Karnataka showcases IT, start-ups and innovation prowess to NRIs

New policies and improvement to old ones, making massive investments in human capital and creating high quality infrastructure are the pillars of progress for Karnataka, the Pravasi Bharatiya Divas delegates were told today.

Addressing the PBD session on ‘Invest in Karnataka’, Karnataka Industries Minister RV Deshpande said, “Karnataka’s strategy is to ensure we continue to move in such a way that we not only lead India’s growth story but also become a beacon of light for the uncertain global economy.”

The strength of Karnataka is its talent and workforce, Deshpande said. “The state is home to R&D and innovation centres of more than 400 of the Fortune 500 companies. This is perhaps the largest concentration of hi-tech workforce anywhere in the world,” he added.

“It is no surprise that Bengaluru is the innovation and start-up capital of the country with nearly 40 per cent of all start-ups emerging from here. Many of you are also private equity and venture capital investors who know the immense potential which exists here. When you return to the countries of your residence, I urge you to be our ambassadors,” Deshpande said.

On the industrial landscape, Deshpande said, “We have more than 150 high-quality, sector-specific and sector-agnostic industrial areas and estates.”

He said two industrial corridors – Chennai-Bengaluru-Chitradurga Industrial Corridor and Bengaluru-Mumbai Economic Corridors – would transform the state. Work on identifying and acquiring nearly 40,000 acres of land has been taken up by Karnataka State Industrial Infrastructure Development Corporation (KSIIDC).

Efforts are being made to augment power production capacity by making massive investments in renewable energy.

“Karnataka has the country’s best conditions for solar and wind facilities to come up and this is a huge focus area. We invite investors in this critical area as we strive for energy surplus by the year 2022,” he said.

“While we continue to ensure that Bengaluru’s infrastructure is constantly upgraded, we also look at tier-II cities for our next phase of growth and expansion. We are encouraging new investments in Hubballi-Dharwad-Belagavi belt and Mangaluru-Udupi belt. Both these regions are extremely well-connected by road, rail and air,” he said.

“As far as Bengaluru is concerned, you are already privy to some of the major steps we are taking on international airport expansion, land acquisition for the Peripheral Rind Road, Namma metro phase II, upgradation of the existing ring roads, high speed connectivity to international airport etc. All our efforts are aimed at ensuring that Karnataka continues to lead India into the 21st century,” he added.

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