Comments
Karnataka Chief Minister BS Yediyurappa, met with consul generals of various countries in Bengaluru to attract FDI to the State.
The Chief Minister highlighted various business opportunities and investment opportunities in the State. He gave a detailed presentation spanning IT, ITeS services, machine tooling, manufacturing, aerospace, biotech, and engineering design.
Yediyurappa said “Karnataka is a nearly $250 billion economy and growing strong. It has secured the highest FDI among States in the April-June 2020 quarter, at ₹10,000 crore.”
“Moreover, the State has attracted 50 percent of the investment proposals coming into India, amounting to ₹1.1 lakh crore between January to May this year,” he explained.
It has takens steps to develop tier-II cities such as Mysuru, Mangaluru, Hubballi-Dharwad and Belagavi.
“To encourage investments we have launched Industrial Policy 2020-2025 to favour every sector,” said he said.
Explaining the critical policy reforms, Yediyurappa said simplifying procurement of land, amending labour laws and the Karnataka Industrial (Facilitation) Act, that allows any approved project to start without further downstream clearances.
“We are actively working on industrial corridors. Tumakuru, which is just 70 km away from Bengaluru, is going to be one of the largest industrial townships in the entire country with 10,000 acres of the planned area. We will be pleased to provide infrastructure for your companies as well, to make it easy for them to invest in Karnataka,” Chief Minister added.
“Karnataka has been the leader in several sectors. The State has traditional strengths in a wide range of industries - such as machine tools, heavy machinery, automobiles, electronics, aerospace & defense, biotech. We have been successful in providing needed economic and social infrastructures for investment, industries and business to invest in the state,” Gaurav Gupta, Principal Secretary, Commerce & Industries Department said.
“Changing geo-political dynamics have created disruption in global supply chains and has presented a golden opportunity to further attract investments to Karnataka. The State is the knowledge capital of India and has been at the forefront of innovation,” said Gunjan Krishna Commissioner for Industrial Development and Director of Industries and Commerce.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.