CM Bommai invites global business leaders to invest in Karnataka

PTI, May 11, 2022, 6:29 PM IST

New Delhi: In a major international outreach to garner investments for the state, Karnataka Chief Minister Basavaraj Bommai yesterday met with envoys of several countries and invited them to attend the three-day Global Investors Meet (GIM) happening in Bengaluru in November and urged them to bring new business to the state.

The event was attended by Pralhad Joshi, Union Minister of Parliamentary Affairs, Coal and Mines, Government of India, Murugesh Nirani, Minister for Large and Medium Industries, Government of Karnataka along with ambassadors, trade commissioners, and other officials from several countries including Australia, Canada, Germany, Italy, Romania, Finland, South Korea, Sweden, and the United Kingdom, among others.

Addressing the audience, Pralhad Joshi said, “India’s ranking on the Ease of Doing Business (EODB) index has jumped to 79th in 2020 from 142 in 2014, which is a testimony of the efforts of the Union Government to promote trade and investment in the country. Karnataka has now become one of the most preferred business destinations due to its investor-friendly business policies, excellent infrastructure, and road connectivity, which will further boost investment and other commercial activities in the state.”

Talking about the business attractiveness of the state of Karnataka, Basavaraj Bommai said, “As the world is recovering from the pandemic, Karnataka has created the right kind of policies, atmosphere, and infrastructure for the global companies to invest and prosper in the state. Karnataka has got a very rich heritage along with rare rich natural resources and 10 agro-climatic zones making it a land of opportunity and dreams.”

“I take this wonderful opportunity to invite all diplomats as well as the businessman of all countries to come and do business in Karnataka,” added Bommai.

The three-day Global Investor Meet – Invest Karnataka 2022 – a flagship investor event for the state of Karnataka would be held in Bengaluru from 2nd – 4th November 2022.

Dr. Murugesh R. Nirani, Minister for Large & Medium Scale Industries, Government of Karnataka said, “We are delighted to have so many diplomats and industry leaders at this platform today. The government of Karnataka has taken many initiatives in the recent past to attract global investment to the state. I would like to urge everyone here to participate in the global investor meet with full force to make Karnataka a vibrant economic powerhouse of India.”

Karnataka has emerged as a top investment destination in the country for the last two years in a row. The state has attracted Rs. 62,085 crore investments and is a top recipient with a 48% share of total FDIs in India.

The State has emerged as a frontrunner in global manufacturing, and we are focusing on human resources, production of rich raw materials, manufacturing expertise, product design capabilities, and R&D to meet the demands of the global manufacturing segment.

This edition of the GIM will be under the theme “Build for the World” reflecting on the role Karnataka aims to play in the global supply chain. (NewsVoir)