BENGALURU: Chief Minister Basavaraj Bommai at the inauguration of GIM 2022, here on Wednesday, said that all the proposals signed at GIM will be cleared in the next three months.
“Already, investment proposals worth Rs 2.80 lakh crore have been approved and all the proposals signed at GIM will be cleared in the next three months. An investment of Rs 7 lakh crore is expected because of the industry-friendly atmosphere in the state. Since the government is serious, investors too should be equally serious as the government is determined to help industries in Karnataka grow to international level,” he said
He said the state government has considered all the agreements signed, while all necessary permission and cooperation will be extended to make the business proposals become a reality. “The government will further improve the industrial-friendly atmosphere in Karnataka and at the highest level, efficient and high-quality manufacturing should take place here. It will play an important role in the economy. The investments that are currently on paper should become a reality,” he suggested.
The state is home to institutions like IIT, IIM, IISc and DRDO with as many as 400 international-level research centres, while 5,000 to 10,000 engineers are involved in research in companies set up in Bengaluru, with a lot of research going on from genomics to aerospace. Karnataka is at the top in the research index of Niti Aayog, he explained.
“Karnataka is the first state in the country to host a Global Investors’ Meet of this scale after the Covid pandemic,” he said. The challenges posed by the pandemic were turned into opportunities and the state not only effectively managed the pandemic but also prepared itself for economic development, he added.
“After Covid, the state’s economic progress gained pace as in the first six months of last year, the revenue collection was Rs 13,000 crore over the target and this is the strength of Karnataka, which is second in GST collections in the country,” he stated.
“The China Plus One destination has reduced and now India has become a favourite destination. The challenges are turned into opportunities because of Prime Minister Narendra Modi’s vision,” he said.