BENGALURU: Experts, who focused on five areas to help achieve Karnataka Vision 2030 in five years here on Wednesday at the Invest Karnataka-2025 Global Investors’ Meet (GIM), suggested that the government should ensure ‘aftercare’ to investors after clearing projects through a single-window system and build the trust for additional investments. They advised Karnataka not to compare itself with neighbouring states, but with China and Silicon Valley.
Matthew Stephenson, head, of investment and services, World Economic Forum, who moderated the discussion, was highly appreciative of the government revamping its single-window clearance policy. Karnataka should graduate from technology to deep technology from GCCs to GCEs, he suggested.
But Venkat Raju, CEO, Turbostart Global, said, “Single-window clearance is highly commendable, but this is not something new, as several other governments have done it. The support is required not just at the time of investment or clearance, but it should be a continuous engagement. The keyword is ‘aftercare’ post single-window clearance as to how to continue to increase the capital from the investors. If it fails, unfortunately, they may make an exit,” he elaborated.
Karnataka should think about its transformational capabilities with respect to diversified ecosystem cutting across sectors with an edge of having IISc, ISRO and biotechnology companies.
Mohit Kochar, Chief Marketing Officer, KPIT Technologies, said the mindset should also change. “Not just look at the neighbouring states, but at China or Silicon Valley, when we look at what we can do for the ease of doing business and speed,” he suggested.
Priyadarshi Panda, head of International Battery Company, spoke on the need for collaboration between the government and corporates from abroad, in particular Europe, in green energy sectors and localisation of end-to-end supply chain.
For the green energy sector, the entire value chain and storage system is to be addressed, beside tapping the potential of lithium and sodium, he suggested.
“In the US a lot of companies are looking at the Indian market because of its large population and market. But they also ask whether they can truly trust and replicate their models in India and monetise. Trust is important,” he remarked.
He stressed the need to groom future industry leaders by funding startups.
Udupi-born Dr HC Nik Gugger, president, Swiss-India Parliamentary Group and Swiss MP, who played a key role in the free trade agreement between the two countries, said India has an edge with its young population of which Karnataka too has a huge potential to turn around.
The panel discussed how to attract investments that are resilient, tech driven, inclusive and green by adapting good practices for ease of doing business.