Karnataka is one of the largest investment states in the country, says CM BSY
Updated: Nov 15, 2020
October 22, 2020
CM BSY says Karnataka has attracted the highest amount of investment in the country (Sources: ETV Bharat)
CM BS Yediyurappa, in a video conference hosted by the State Government in collaboration with Public Affairs of India on 22nd October, exclaimed that Karnataka has attracted the highest amount of investment in the country while talking about industries that are likely to invest in the state despite of the current situation, also explained about ‘The Industrial New Policy’ to bring up the state on the path to progress.
“Our government has created a conducive environment for the industry in the state by implementing several reform measures for industrial development in the state despite the Corona lockdown”. Thus, Chief Minister B.S. Yeddyurappa appealed to various enterprises. CM Yeddyurappa, who participated in a video conference hosted by the State Government in collaboration with Public Affairs of India (PAFI), described the opportunities for investment in Karnataka, based on which the business leaders of various companies in the country appealed to corporate leaders to help in attracting international investment.
ETV news reports that CM BSY exclaimed that Karnataka has attracted the highest amount of investment in the country. Then he started talking about industries that are likely to invest in IT, ITES services, machine tooling, manufacturing, aerospace, biotechnology, and engineering design. Karnataka is home to over and about 400 R&D centres. The state's second-largest foreign direct investment (FDI) exporter in June 2020 has been the favourite of the industry. The state has created industry-friendly governance by implementing 'industry-specific policies' to promote various sectors such as the state, biotechnology, healthcare, semiconductor, agriculture, automobiles etc.
Karnataka has attracted the highest amount of investment in the country. The current scenario has highlighted the importance of building systems. Leading the industry, Karnataka has facilitated smooth operation along with strengthening the local supply chain. "The emphasis is on the local business system by finding sustainable solutions at a lower cost," said CM BSY.
The State Government has introduced a new Industrial Policy for the next five years keeping investors in mind. The new policy will help create a large number of jobs in addition to bringing the state on the path to progress. The policy includes several regulatory reforms including a land allowance, labour law reforms, and an allowance for industries. "The first priority of our government is to promote economic and industrial development through all these auxiliary measures," said Jagadish Shettar, Minister of Mass Media and Public Enterprises.
News Sources: ETV news, U Channel, prajavanitv
Edited by Shreya Gupta and Aditya Das