Stage set for Invest Karnataka

CM unveils website for investor's meet, scheduled during Feb 3 to 5

Karnataka Chief Minister Siddaramaiah on Wednesday unveiled the ‘Invest Karnataka 2016’ logo and launched the official website, sending out a clear invite to new and existing investors to invest in Karnataka.

The three day global investors meet (GIM) will be held from February 3-5, 2016, at Palace Grounds in Bengaluru. Highlighting the importance of Karnataka, Siddaramaiah said, “Invest Karnataka 2016 has the potential to impact the lives of more than 65 million people of the state from job aspiring young men, women and the top most industrialists in the country.”

“The State is already a $117 billion economy at current prices. Our GDP is growing at a healthy seven per cent; on par with the national average,” he said.

The CM claimed that during the last two years, the state  has approved more than 450 projects bringing investments of Rs 1.21 lakh crore and generating 2.44 lakh employments.

He added, “But more needs to be done. Karnataka needs more industry and business in the state. As per the New Industrial Policy we announced last year, we need an annual growth rate of 12 per cent and to attract investments of Rs 5 lakh crore, providing employment to 15 lakh persons in the next five year period.”On power shortage, he said, “The situation of power shortage that you are seeing today is only temporary.”

Karnataka’s power production capacity has improved. We have seen reduction in energy deficiency from 14 per cent to five per cent in the last two years. In fact, our peak deficit is only 1.4 per cent at present. We are working towards energy security for the state and planning to add 22gW of all forms of power by 2022. This includes 14.5 gW of non-renewable and 7.5 gW of renewable energy capacity, he said.

Minister for Large & Medium Industries and Tourism R V Deshpande, said, “We pioneered the concept of Global Investors Meet in 2000. No one had thought about it till then. We are delighted that our concept has now become an institution and is being used by several other states by calling it different names.”

Minister for Planning and Statistics, IT, BT, Science & Technology S R Patil, said, “In the ESDM sector, India is expected to achieve $400 billion of exports  and in that Karnataka wants to achieve 10 per cent of it.”

Additional Chief Secretary K RatnaPrabha said, “Women constitute 50 per cent of the population and we cannot ignore their contribution. An industrial area for women is being implemented at Harohally, Kanakapura Taluk ­– it is the first industrial area being planned by women, of women, and for women. Second one will come up in Dharwad/Belgavi area.”