BS Yediyurappa wants crack team to cast net wide for investors

Meets ministers, officials to work out strategies; industries resume production

Published: 22nd May 2020 06:34 AM  |   Last Updated: 22nd May 2020 06:34 AM   |  A+A-

Karnataka CM BS Yediyurappa

Karnataka CM BS Yediyurappa

By Express News Service

BENGALURU: With credit rating firm ICRA pushing Indian growth rating into negative territory, with a forecast of -5% growth rate for this financial year, and the economy continuing to flounder, the Karnataka government is working on strategies to attract investment. Chief Minister BS Yediyurappa, Industries Minister Jagadish Shettar and Labour Minister Shivaram Hebbar held a meeting on Thursday, to instruct a team of bureaucrats led by Chief Secretary Vijay Bhaskar, to work on bringing investments home.

Yediyurappa, who attended the World Economic Forum meet in Davos, Switzerland, before the Covid-19 outbreak, and had laid down ground rules to bring in more investment, asked officials from the industries and commerce ministries to come up with tangible proposals to bring in more investment into the state. This meeting assumes significance since the state on Wednesday decided to put off the Global Investors’ Meet.  

The CM later told the media that they were working out strategies to bring in investments. He added that about three-fourth of the 6.5 lakh MSMEs and other industries that had shut shop due to the coronavirus outbreak, had resumed production. He claimed that this would provide the government the stimulus to accelerate efforts and bring in more investments. 

He also raised the issue of implementation of the amended Land Reforms Act, and said it had eased the process of doing business in Karnataka. Experts, however, said this model was already available in other states. The CM said the state government has taken important measures to seize more investment opportunities, in line with Prime Minister Narendra Modi’s suggestions to states.

Stay up to date on all the latest Karnataka news with The New Indian Express App. Download now


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp