First board meeting of Invest K'taka Forum held

Published: 25th August 2016 05:16 AM  |   Last Updated: 25th August 2016 05:16 AM   |  A+A-

BENGALURU: In an attempt to attract investments to the state, the first board meeting of Invest Karnataka Forum was held here on Tuesday.

Industries Minister R V Deshpande told reporters that Karnataka is the first state in the country to form a non-profit company registered under Section 8 of the Companies Act, 2013, to promote investments.

“We are the pioneer of several reforms which have made Karnataka the top global business destination. The Invest Karnataka Forum will facilitate investors from the stage of conceptualisation to commissioning of the project.

The company will also work closely with the government to create a conducive business environment and has already allocated `10 crore in the recent budget for setting up the company,” Deshpande said.

The industries minister is the chairman, an industry leader nominated by the government will be the co-chairman and two directors from the government, four directors from the industry and a CEO will be appointed by the board.

The executive management will have five members led by the CEO.

The government has nominated Additional Chief Secretary D V Prasad, and Industries department Commissioner Gaurav Gupta, as the two directors of the company.

Deshpande said the forum members will act as ambassadors of the state.

“This is to ensure that more investments from manufacturing, textiles, tourism and infrastructure will come to the state,” he said.

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