Siddaramaiah favours red carpet, not red tape

Siddaramaiah favours red carpet, not red tape

Karnataka Chief Minister Siddaramaiah on Thursday assured captains of Indian industry that his government is striving hard to remove impediments and bottlenecks to attract investments to the state.

Inaugurating the eleventh India Innovation Summit 2015, organised by the Confederation of Indian Industry (CII), on the theme ‘Realising the National Dream: Scaling Local Innovation’, he said, “We are trying to convert red tape to red carpet wherever possible.”

In order to make Karnataka more attractive to industries, the government has come out with new Industrial Policy 2014-19, which aims at attracting investment of Rs 5 lakh crore while providing employment to more than 15 lakh persons, primarily in the manufacturing sector, he said.

The policy aims to maintain an industrial growth rate of 12 per cent and enhance the contribution of the manufacturing sector to the State Gross Domestic Product (GDP) from the present 16.87 per cent to 20 per cent by end of the policy period and spread industrial growth to every nook and corner of the State.

State Principal Secretary Department of IT/BT, Science & Technology V Manjula said that Karnataka had already set up a warehouse for startups. 

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