State seeks inputs to attract firms exiting China

With an objective of attracting industrial investments to Karnataka, the state government held a high-level meeting with the captains of the industry on Tuesday.

The minister for Large & Medium Scale Industries, Jagadish Shettar held the meeting, which was attended by Nandan Nilekani, Non-Executive Chairman, Infosys, Kiran Mazumdar-Shaw, Chairperson of Biocon, and Kris Gopalakrishnan, co-Founder and former CEO of Infosys through a Video Conference.

Shettar recounted the steps taken by Government for reopening the industries at a short notice post-COVID-induced lockdown and spelt out Government’s intent of further improving the investment climate to attract industries to Karnataka.

The industry leaders suggested to the government to showcase its efficient handling of the situation to attract investors to Karnataka. To boost the industry sentiment in the State, they further shared inputs such as improving the Single Window Clearance System for approvals, easing land acquisition regulations, and leveraging the knowledge base of Bengaluru to promote technology-based manufacturing.

Given the interest shown by some companies in moving their manufacturing bases out of China, the industry leaders told the Government to identify a target list of 100 firms and work out a strategy to bring them to Karnataka. The industry leaders assured cooperation from the private sector in reaching out to and facilitating interactions.