Need for policy change stressed

Speaking at a CII conference on Brand Karnataka, Ranganath said “according to a recent World Bank study, India is now categorised as a middle income country. To make it 5 trillion economy having $22,000 to $25,000 per capita income, all states will have to work together. Otherwise our fate will be similar to that of Argentina, Chile etc,” he added.

Calling upon the need of industrialisation for achieving this, he said “Besides capital, land and labour, energy is also  is an important component for industrialisation. Here efficient use of energy also assumes significance.” He also emphasised the importance of good governance to lure investors to the State.  “We have to minimise redtapism to lure prospective investors to our State. We are planning a website for them to interact with the State machinery for executing their plans,” he said. Addressing the issue of energy generation in the State, he said currently there is a shortfall of 20 million MW which will be solved within a couple of years.

IT & BT Principal Secretary Ashok Kumar Manoli said the State’s IT sector showed resilience to withstand the financial melt down.  “We kept 25 per cent growth in ICT export and the State retains one third of national export in the current fiscal also. Our endeavour to keep leadership in the ITC sector will get a boost from forthcoming global investors meet (GIM) to be held in Bangalore,” he said.

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