BENGALURU: Chief Minister Siddaramaiah on Tuesday said that his government has an ambitious plan to double the state’s industrial growth rate and transform it into No 1 manufacturing hub in Asia. Delivering his Independence Day speech, he said, “In the last 10 years, the state’s industrial sector registered a growth rate of 9.3%. We have set a goal of achieving 15-16% growth rate in the coming days. This needs an investment of about Rs 1.4 lakh crore annually and will help generate 14 lakh new jobs.”
He said initiatives to revamp the state’s industrial policy to make it more progressive, to set up world-class industrial infrastructure, digital service delivery system, best-in-class investment promotion agency, ensure future-ready talent pool, and to foster collaboration and implement forward-thinking policies will be taken.
He said that his government will focus more on aerospace and defense, electronic components, core industries and warehousing and logistics sectors to boost the state’s GDP. It will also focus on future mobility, green energy, drone technology, industrial robots, semiconductor, and med and space technologies.
The CM said efforts will be made to ensure that Artificial Intelligence (AI) did not affect employment generation.
Stating that Karnataka pays over Rs 4 lakh crore in the form of taxes and duties to the Centre, he said the state, in turn, gets only Rs 50,000 crore. “Karnataka will be the richest state if we get what we deserve. Despite this challenging situation, we are complying with fiscal discipline,” he added.
Expressing concern over increasing intolerance in society, he called upon the people to defeat the nefarious designs of certain sections to foment trouble and spread disharmony among the people.
“The government will not tolerate hate speech and false news on social media. It will also not tolerate moral policing and goondaism,” he said.
The CM said that his government is committed to utilising the state’s share of Cauvery water. “We will mobilise resources for the same,” he added.