Prime Minister Narendra Modi on Wednesday will address the inaugural function of Invest Karnataka, the Global Investors Meet via video conferencing. Prime Minister Modi will inaugurate the event at 10:30 am on 2 November
According to the Prime Ministers’s office, the meet is aimed at attracting prospective investors and setting up development agenda for the next decade.
The three-day programme, being held from 2 to 4 November in Bengaluru, would witness more than 80 speaker sessions.
The speakers include some of the top industry leaders including Kumar Mangalam Birla, Sajjan Jindal, Vikram Kirloskar among others. Along with this, a number of business exhibitions with more than three hundred exhibitors, and country sessions would run parallelly.
The country sessions would each be hosted by the partner countries – France, Germany, Netherlands, South Korea, Japan, and Australia – which would be bringing in high-level ministerial and industrial delegations from their respective countries.
CM Basavaraj Bommai has called ‘Invest Karnataka‘ an important meeting wherein all technocrats, young engineers, IT/BT experts, startups, educational institutions, and global and domestic investors are welcome.
“Invest Karnataka’ is going to grab the attention of the whole world. Global investment is coming here as Karnataka has a rich atmosphere. This will put a strong foundation for the development of Karnataka in the next five years,” CM Bommai said.
The Karnataka CM said he is expecting over ₹5 lakh crore investment and the State High level Committee has already given clearance for an investment of over ₹2.8 lakh crore.
“The State of Karnataka is making a big leap in the industrial sector and it will be evident, ” he added.
Bommai said most of the investors have shown interest in investment beyond Bengaluru, and new industries are coming up in Ramanagar, Hubballi-Dharwad, Ballari, Kalaburagi, and Mysuru.
Today, industries are crossing the regional barrier. The dream of Beyond Bengaluru is becoming a reality. Last week, the FMCG Cluster to come up in Dharwad was inaugurated in Hubballi and expected an investment of ₹10,000 crore. It is going to provide employment to over one lakh people. The textile park will come up in Kalaburagi, Vijayapura, and Raichur districts; Pharma Park in Yadgir; Electronic Park in Mysuru and Defense production unit in Tumkur. “The situation is conducive in Karnataka and plays an important role in building New Karnataka. We aim to contribute One Trillion Dollar to the Prime Minister’s five Trillion dollar economy of India. The ecosystem that exists in China is present in Karnataka. The state has made achievements in the manufacturing sector.
Besides, it is at the forefront in the fields of electrical, mechanical, energy, iron, and steel. Apart from this, a strong foundation has been laid for Electronic and Artificial Intelligence. We have been at the forefront of IT/BT in the last two decades, and Bengaluru is called Silicon Valley. The contribution of Karnataka in IT/BT export is 40 % and the maximum number of jobs in this field is created in IT/BT. The state is ahead in agriculture production, IT/BT, Startups and others. The industrial policy, Ease of Doing Business has helped attract investment here. The State has attracted 38% of Foreign Direct Investment in the last four quarters.