Govt to extend all co-operation for agreements for investment becomes reality: CM Bommai

Bengaluru, Nov.2:
The State government has considered seriously all the agreements signed for investments in Invest Karnataka 2022, Global Investors Meet and all necessary permission and co-operation will be given to make the business proposals to become reality, said Chief Minister Basavaraj Bommai.
Speaking after inaugurating ‘Invest Karnataka’ ‘Build for the World-2022’ in Bengaluru Palace Ground here on Wednesday, he said the government will still create an industrial-friendly atmosphere in Karnataka and as the maximum level, efficient and high quality manufacturing must take place here. This will play an important role in the economy. The aim before the government is to make these investments into reality. The investments which are currently on the paper, must become reality. Already, Rs 2.80 lakh worth investment proposals have been approved and all the proposals which were signed in this meet will be approved in next three months.

Since the government is serious on the investments, even the investors must be equally serious. ‘Determined to help industries in Karnataka to grow at an international level’
He said Karnataka has been in the forefront in several fields including Aerospace, Biotech and Renewable energy. The Startup and Unicorn of the State are in the first place. Of the total 105 Unicorns, 35 of them are in Karnataka and similarly of the total four Decacorn in the country, three of them are here. The State is quite strong in manufacturing, service, IT/BT and Startup sectors. Already established industries in the State are now on expansion. The government wants the industries of Karnataka to grow and contribute for the development of the country.
World-class research centers
Bommai said Karnataka was the first state to implement R&D policy to encourage research. Starting from a small garage up to big institutions, research is given impetus. The State has IIT, IIM, IISc, DRDO and other important institutions. As many as 400 international level research centers are located here. Over 10,000 engineers are involved in research in the companies set up in Bengaluru. Lot of research is going on from Genomatics up to the Aerospace sector. The development of humanity is not only happening in Karnataka, India but also across the globe. Karnataka is in number one place in the research index of Niti Ayog.
Rs 7 lakh crore investment expected due to industry-friendly atmosphere in state
He said Karnataka is the first state in the country to host Global Investors meet in a large- scale post Covid-19 pandemic. The flow of investment over Rs 7 lakh crore is mainly because of the strength, heritage and industrial friendly atmosphere of the State. First they must have confidence in their strength and capacity. The challenges posed by the pandemic were turned into opportunities. The state not only effectively managed the pandemic but also prepared itself for development. The economic scenario changed post Covid pandemic and Karnataka was fully geared up for development. Karnataka was in the forefront in recovery in economy and it became a leader for change in the country. “Post Covid, the state’s economic progress had increased. In the first six months of last year, the revenue collection had been Rs 1300 crore over the target and this is the strength of Karnataka which is second in GST collection. Karnataka’s progressive thinking policies, Ease of Doing Business, Industrial Incentive Policy, Semiconductor Policy, EV Policy and R&D policy are helping the State to attract investments”.

To encourage job creating industries
The CM said the employment policy exists here. The people must become rich so as the State and this is possible only through hard work and employment opportunities. For this purpose, the employment policy has been implemented and accordingly, those industries which would create more job opportunities will get more encouragement. Solutions will be given to all the challenges here. The government will become a part of the solution and not problematic. The State of Karnataka is ideal for investments and it will ensure good returns for investment made here. The state is ready to face the competition in all fields as it will help to become dedicated and active throughout. “Our competition is of world standard. Several countries faced several problems including price rise after Covid-19 pandemic and that the world’s focus fell on developing countries like India. The China Plus One destination has reduced and now India has become a favorite destination. So, all the challenges are turned into opportunities. Prime Minister Narendra Modi is a visionary leader and he has shown his guts of providing tap water to all the houses in India before 2025. This shows his dedication and determination. The concepts like Make In India, Sab Ka Saath, Sab Ka Vikas and Atmanirbhar will be continued. This is a double engine government and Government of India is providing all the assistance to Karnataka because of which it is witnessing a sustained economic development. Seeing the flow of investment into Karnataka indicates the confidence of investors in Karnataka. Our government is confident of organising Global Investors Meet again in 2025”.
Governor Thawar Chand Gehlot, Union Ministers, Nirmala Sitaraman, Pralhad Joshi, Rajiv Chandrashekar, Piyush Goyal, Karnataka Ministers, Dr Ashwath Narayana and Murgesh Nirani, Pramodadevi Wadiyar, a member of Mysore Royal family, Industrialists, Sajjan Jindal, Vikram Kirloskar, Rishab Premji, Pratik Agarwal, Rajan Mittal, Karan Adani and Chief Secretary Vandita Sharma were present.