Dedicated platform will be set up to facilitate investment by US companies: K’taka Minister MB Patil

PTI, Aug 18, 2023, 8:38 PM IST

Source: X (Formerly Twitter) / File

Bengaluru: Karnataka Large and Medium Industries Minister MB Patil on Friday said that a dedicated platform would be set up to facilitate investment by American companies in the state. Speaking at an event organised by the American Chamber of Commerce in India (AMCHAM- Karnataka Chapter), he said that more and more American companies are coming forward to invest in the state.

Noting that the government was encouraging the growth of industries across the state by providing attractive incentives and initiatives such as ‘Beyond Bengaluru’, Patil said he would also convene a meeting with industrialists in the next two weeks.

There is no problem with the availability of land, water and power in the North Karnataka region, he said, as he called on industrialists to come forward to set up their plants in districts belonging to the region including Vijayapura.

The Minister further said proposals worth Rs 40,000 crore investments have been received after the new government assumed office in the state and added that proposals worth another Rs 60,000 crore are in the pipeline.

American companies are eyeing investment in e-mobility, ESDM, clean energy, aerospace and defence sectors, he said.

Patil also informed that the ‘Invest Karnataka Forum’ (IKF) would be reconstituted and a ‘Strategic Investments Committee’ would be formed to facilitate the inflow of FDI to the state.

Meanwhile, Chief Minister Siddaramaiah has said that there is a conducive environment for investment in Karnataka and there is an opportunity to invest in Tumkur , Davangere and other tier 2 cities as well.

He said this during discussions on various issues with Christopher W Hodges, Consul General of the US Consulate in Chennai, who met him here today.

Welcoming the decision to open an American Consulate in Bengaluru, the Chief Minister promised to provide all necessary support and cooperation.

Speaking on the occasion, Christopher Hodges said, ”Excited to be here in Bengaluru and to see optimism and energy in the partnerships here. With over 650 American companies and 30 years for the US on the ground here, our commitment is clear.”