The Karnataka state government under the leadership of Chief Minister of Karnataka B.S. Yediyurappa addressed Consular General’s of various countries to discuss the opportunities to attract trade and investments to the state, this morning at official residence ‘Krishna’.
The meeting touched upon numerous business opportunities and investments that are available for foreign investors in Karnataka. Chief Minister held talks with Consular Generals and detailed on the immense opportunities IT, ITES services, machine tooling, manufacturing, aerospace, biotechnology, and engineering design.
“The state has secured the highest FDI among all Indian states in the April-June 2020 quarter, with FDI of over Rs. 10,000 crores. Moreover, Karnataka has attracted 50% of the investment proposals in India, amounting to Rs. 1.1 lakh crores between January to May this year,” Chief Minister B.S. Yediyurappa said at the meeting.
The state has also taken a slew of policy reforms in the last six months to attract investments and develop tier-II cities such as Mysuru, Mangaluru, Hubli-Dharwad, Belagavi. The critical policy reforms are procurement of land, labour and amendment of Karnataka Industrial (Facilitation) Act, that allows any approved project to start without any downstream approvals.
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.
The state is taking cautious steps to reboot the economy and support economic activities in the state. The recent 2019 NITI Aayog 2019 Innovation Index has Karnataka at the top. This has been possible due to the availability of quality human resources, reputed higher educational institutions, and a significant thrust on research and development aided by a proactive administration and conducive investment climate.
Keeping the investor-centric approach, our government has launched the New Industrial Policy 2020-2025, to build a prosperous Karnataka and create large-scale employment opportunities. The state is committed to bringing ease to regulatory compliance for businesses, he added. “Karnataka is a nearly US$ 250 billion economy and growing strong.
The state has been leading the country in several sectors. The state has traditional strengths in a wide range of industries – such as Machine tools, Heavy machinery, Automobiles, Electronics, Aerospace & Defense, Biotechnology. The state has been successful in providing needed economic and social infrastructures for investment, industries and business to invest in the state,” Gaurav Gupta, IAS, Principal Secretary, Commerce & Industries Department, Government of Karnataka said. “Changing geo-political dynamics have created disruption in global supply chains and has presented a golden opportunity to further attract investments to Karnataka.
Karnataka is the knowledge capital of India and has been at the forefront of innovation,” Gunjan Krishna Commissioner for Industrial Development and Director of Industries and Commerce Government of Karnataka said.
The meeting was attended Additional Chief Secretary EV Ramana Reddy, Gaurav Gupta,
Principal Secretary – Commerce and industries,
Commissioner for Industrial Development,
Gunjan Krishna Commissioner for Industrial Development and Director of Industries and Commerce, Revanna Gowda, Managing Director Karnataka Udyog Mitra.
Hon. Consul General Vikram Viswanath for the Republic of Peru.
Hon. Consul General Mohan Suresh of Rwanda
Hon. Consul General Pravin Goenka of Estonia
Hon. Consul General Mahesh Shetty of Djibouti
Hon. Consul General KV Rajagopal Reddy of Seychelles
Hon. Consul General BL Naveen of Cote D’Ivore
Hon. Consul General Raghu C Rajappa of Republic of Poland
Hon. Consul General CS Prakash of the Czech Republic
Hon. Consul General HVS Krishna of Mali
Hon. Consul General Surbhi Sharma of Spain
Hon. Consul General V Ravichander of Republic of Slovenia
Hon. Consul General Shabeena Sultana of Tunisia
Hon. Consul General KP Balasubramaniam of Latvia