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Karnataka tops India in FDI investments in Q1: Murugesh Nirani

According to Nirani, Karnataka got Rs 62,085 crore in FDI in the quarter, which he said accounted for 48% in the national share
Last Updated 08 September 2021, 13:25 IST

Karnataka attracted the highest foreign direct investment (FDI) in the first quarter of the current fiscal, Industries Minister Murugesh Nirani said Wednesday.

According to Nirani, Karnataka got Rs 62,085 crore in FDI in the April-June quarter, which he said accounted for 48% in the national share.

“Our state had attracted Rs 30,746 crore FDI in 2019-20 and stood third in the country. In 2020-21, we maintained the third spot by attracting Rs 56,884 crore,” Nirani told a news conference.

Nirani hailed the government’s single-window platform Udyoga Mitra for being ranked as India’s top investment promotion agency. “The National Investment Promotion and Facilitation Agency ‘Invest India’ has rated Karnataka Udyoga Mitra as the top IPA agency in the country by giving rankings while considering the performance of 20 states. Karnataka Udyoga Mitra has scored centum in 4 out of 8 categories regarding investment promotion,” Nirani said.

The minister explained that Udyoga Mitra scored full points in winning investment projects, facilitating them, aftercare and managing its website. “Its role in providing clear information to investors like opportunities, procedures and necessary facilities was very crucial. We have removed hurdles for investors by easing many policies and provided necessary assistance to start industries,” Nirani said.

Going forward, Nirani said the government aimed to score 100 points on all parameters. “We have implemented several reforms to ensure ease of doing business such as affidavit-based clearance, central inspection system, and land and labour laws,” he said.

Unutilised land

Nirani said his department had plans to issue notices to industrialists who have not utilised land allotted to them by the Karnataka Industrial Area Development Board (KIADB). “We plan to issue notices in the next 15 days and seek an explanation from the allottees,” Nirani said. “There have been many complaints against some individuals and companies that land has been kept vacant,” he said.

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(Published 08 September 2021, 13:25 IST)

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