Karnataka: Industry leaders ask state govt to identify target list of 100 firms

Team Udayavani, May 6, 2020, 7:57 AM IST

Bengaluru: Amid reports about companies being reportedly interested in moving their manufacturing bases out of China, industry leaders on Tuesday asked the Karnataka government to identify a target list of 100 firms to reach out to for attracting them to the state.

“Given the interest shown by some companies in moving their manufacturing bases out of China, the industry leaders recommended that the state government identify a target list of 100 firms to reach out to for attracting to the State, and work out a strategy to bring them to Karnataka,” a release by the state industries department said.

The industry leaders assured cooperation from the private sector in reaching out to and facilitating interactions with CEOs of these companies, it said.

With an objective of attracting industrial investments in Karnataka, given the changes in global economy due to COVID-19 pandemic, a high-level meeting with leading industry leaders of the state was held under the Chairmanship of Minister of Large and Medium Scale Industries, Jagadish Shettar.

Nandan Nilekani, Non-Executive Chairman, Infosys, Kiran Mazumdar-Shaw, Chairperson of Biocon, and Kris Gopalakrishnan, co-Founder and former CEO of Infosys participated in the video conference.

During the meeting, Shettar recounted the steps taken by the government for reopening the industries at short notice post Covid-induced lockdown and spelt out the intent of further improving the investment climate to attract industries to Karnataka, the release said.

It said the industry leaders appreciated the government’s initiatives in controlling the spread of the pandemic in the state and recommended that it showcase its efficient handling of the situation to attract investors to Karnataka.

To boost the industry sentiment in the state, industry leaders suggested improving the Single Window Clearance System for approvals, easing land acquisition regulations and leveraging the knowledge base of Bengaluru to promote technology-based manufacturing.

Shettar informed the industry leaders that government was in the process of notifying a new Industrial policy for the state and also that a special relief package for MSMEs is under discussion.