Environment is conducive to invest in Karnataka: CM Siddaramaiah
BENGALURU: Chief Minister Siddaramaiah said that there is a conducive environment for investment in Karnataka and there is an opportunity to invest in Tumakuru, Davanagere, and other Tier II cities as well. He held discussions on various issues with Christopher W Hodges, Consul General of the US Consulate in Chennai, on Friday.
Karnataka is the second-highest tax-paying state in the country and has an investor-friendly ecosystem. The law and order situation is in place and skilled human resources are available. In this background, the CM extended an invitation to make more investments in the state. The CM promised to provide all necessary support and cooperation for opening American Consulate in Bengaluru.
Dedicated platform
Large and Medium Industries Minister MB Patil said on Friday that a dedicated platform would be constituted to facilitate investment by American companies in the state. Speaking at an event organised by the American Chamber of Commerce in India (AMCHAM- Karnataka Chapter) he stated that more and more U.S. companies are coming forward to invest in Karnataka.
Patil said that proposals worth Rs 40,000 crore investments have been received after the new government assumed office in the state and added that proposals worth another Rs 60,000 crore are in the pipeline. Minister also informed that the ‘Invest Karnataka Forum’ (IKF) would be reconstituted and a ‘Strategic Investments Committee’ would be formed to facilitate FDI inflow to the state.