Karnataka is witnessing steep industrial growth: Chief Minister  

Team Udayavani, Feb 13, 2017, 2:15 PM IST

Bengaluru: “Besides, being a major consumer itself, India has the advantage of cost competitiveness and favorable demographic dividend which enable it to make products for the entire world.  Due to these reasons, India is uniquely positioned with both buying power as well as making power.  The entire world is looking towards India because today, time is on India’s side. More specifically, time is on Karnataka’s side,’’ said karnataka chief minister Siddarmaiah delivering his inaugral speech at the inaugral session of Make in India Karnataka Conference here in the state capital on Monday.

“Karnataka’s Industrial Policy for the period 2014-19 is manufacturing centric. With the several advantages that the state enjoys, our vision is to make this state an innovative and hi-tech manufacturing hub of India,” he added.

“We live in a world which is much more complex than it was, say, even 10 years ago. But, this fast changing world is creating new opportunities for everyone and India stands at the cusp of these opportunities. In the last decade, increasing urbanization and rising income levels have accelerated consumer demand for manufactured goods in India. By 2030, India is expected to become World’s fifth largest consumer market,” opined chief minister.

Reducing India’s dependency on acquiring foreign capital and foreign technology and shifting our focus to domestic capital and home grown technologies could help to build competitiveness in manufacturing sector.   World over, greater importance is being given to home grown products and services. Let us give highest priority to Indian products and technologies. Let us align all regulations and actions accordingly, he said.

Union finace minister Arun Jaitley, M Venkaiah Naidu-gaaru, Union Minister for Urban Development, HN Ananth Kumar, Union Minister of Chemicals and fertilizers, Parliamentary Affairs and other dignitaries were present on the occasion.