From Our Special Correspondent

Daijiworld Media Network

Bengaluru, Nov 1: Bengaluru is a destination for the global investors and all roads of global investors are leading to Bengaluru and the three-day 'Invest Karnataka' will become a grand success, said Chief Minister Basavaraj Bommai.

Talking to reporters after inspecting the arrangements for the three-day Global Investors Meet 2022 at the Bengaluru Palace Ground on Tuesday, November 1, he said the 'Invest Karnataka' is going to grab the attention of the whole world.

The event to be virtually inaugurated by Prime Minister Narendra Modi will lead to global investment flowing as Karnataka has a rich and most invest-friendly atmosphere, he said.

“This will put a strong foundation for the development of Karnataka in the next five years. It is a most important meet and all technocrats, young engineers, IT/BT experts, startups, educational institutions and global and domestic investors are welcomed to Bengaluru,” he said.

Bommai went on to claim, "We are expecting over Rs 5 lakh crore investment and already the State High level Committee has given clearance for investment over Rs 2.8 lakh crore. This is our commitment to our investors and we are going to distribute the certificate of investment tomorrow. We will sign an agreement with new investors and give all the clearances in the next few days.”

Karnataka is making a big leap in the industrial sector and it will be evident at the GIM 2022, he said.

Beyond Bengaluru

The Chief Minister said most of the investors have shown interest for investment Beyond Bengaluru, and new industries are coming up in Ramanagar, Hubballi-Dharwad, Ballari, Kalaburagi and Mysuru.

Industries are crossing the regional barrier. The dream of Beyond Bengaluru is becoming a reality, he said.

The FMCG Cluster to come up in Dharwad has already been inaugurated in Hubballi and expected an investment of Rs 10,000 crore. It is going to provide employment to over one lakh people.

A mega textile park will come up in Kalaburagi, Vijayapura and Raichuru districts; Pharma Park in Yadgir; Electronic Park in Mysuru and Defense production unit in Tumkur, he said.

“The situation is conducive in Karnataka and the State plays an important role in development. Our aim is to contribute One Trillion Dollar to the Prime Minister's five Trillion dollar economy of India,” he said.

Bommai said the ecosystem that exists in China is present in Karnataka. The state has made achievements in the manufacturing sector. Besides, it is in 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 in the forefront in IT/BT in the last two decades, and Bengaluru is called Silicon Valley. The contribution of Karnataka in IT/BT export is 40 percent and the maximum number of jobs in this field is created in IT/BT,” he said.

The Chief Minister said 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 per cent of Foreign Direct Investment in the last four quarters.