Government to set up company for wooing investors

Minister for Large and Medium Industries and Infrastructure Development R V Deshpande has said that industrialists themselves would be made ambassadors for the ‘Invest in Karnataka’ initiative by floating a professionally managed not-for-profit company, for the first time in India, to attract investors.

Speaking to media persons here on Thursday, he said a chief executive officer would be appointed to promote Karnataka as a destination for investors from India and abroad. “The industries minister will be the chairman of the board of directors of the company and the board will not have more than two bureaucrats. It will have at least five industrialists from various sectors,” he said.

“Applications had been invited for the post of the CEO. The applications are being scrutinised. The company will start functioning once the CEO is appointed,” he said.
When asked about the industrial scenario in the state, he said, overall, the industrial sector, mainly the manufacturing sector, was dull.

“However, Karnataka is in the first place in attracting investors. Jobs are being cut in most of the companies due to various reasons. But, still there are jobs, which need specially trained people. For this purpose, the government has formed the Skill Development department, which is under the chief minister himself,” he added.