BENGALURU: Amid the peak of the Covid-19 pandemic second wave, Karnataka managed to attract Rs 62,085 crore in Foreign Direct Investments (FDI) during the first quarter (April-June) of this fiscal. This has come as a shot in the arm for the Basavaraj Bommai- led government, which is preparing to host the Global Investors’ Meet next February.
Briefing the media here on Wednesday, Large and Medium Scale Industries Minister Murugesh Nirani said Karnataka had attracted Rs 30,746 crore FDI in 2019-20 and stood third in the country. “In 2020- 21, Karnataka retained the third spot by attracting FDI of Rs 56,884 crore,” he added. He said that the State Government has implemented several reforms to ensure ease of doing business such as affidavit- based clearance, central inspection system, and land and labour laws.
Nirani lauds Udyoga Mitra
On the reforms to help industrialists, Nirani promised that the government has been aiming to score 100 points on all parameters in the coming days. Appreciating the Karnataka Udyoga Mitra, the state’s single window agency for investments, for becoming the country’s top Investment Promotion Agency (IPA), Nirani said, “The National Investment Promotion and Facilitation Agency ‘Invest India’ has rated Karnataka Udyoga Mitra as the top IPA in the country among the 20 states which were considered for ranking.
Karnataka Udyoga Mitra has scored centum in four of the eight categories, including investment projects, their facilitation, aftercare and managing the website.” He said the ranking was a matter of pride for the state. “Its role in providing clear information to investors — like opportunities, procedures and necessary facilities — are very crucial. We have removed hurdles for investors by easing many policies and provided assistance to start industries,” Nirani elaborated.
“Invest India has lauded Udyoga Mitra’s foresightedness and the proactive steps in this competitive platform,” he added. Nirani warned that the department will start issuing notices to individuals and companies that had been allotted land by the KIADB and are not utilising them for the stated purpose.