USA: Yeddyurappa promises NRIs all help to invest in State
The Hindu
USA, Dec 13: Chief Minister B.S. Yeddyurappa has invited non-resident Indians (NRIs) and American businessmen to invest in the State and promised them that all assistance will be extended to them.
Yeddyurappa, who is on a business tour of the United States, was speaking at a luncheon meeting with NRIs and business leaders in Michigan on Friday.
Minister for Primary and Secondary Education Visveshwara Hegde Kageri, Minister for Medical Education Ramachandra Gowda and Principal Secretary V.P. Baligar are part of the high-level team accompanying the Chief Minister.
In his address, the Chief Minister said there was excellent scope for bilateral trade and cooperation between Karnataka and the U.S. in information technology, electronics, engineering, textiles and apparels, telecommunication, machine tools, automobile and auto components, aerospace, energy, processed food and allied areas. There was ample scope for increasing the presence of U.S. companies in Karnataka and vice-versa. Business-to-business contacts had to be pursued vigorously.
The Chief Minister said of late many companies were evincing keen interest in setting up aero-engine aircraft service facilities, production of aircraft components and systems. These facilities were likely to be clustered around the new Bengaluru International Airport. “I am happy to note that there has been a growing trend in Indo-U.S. investments and collaborations in Karnataka. Bangalore continues to be one of the most preferred destinations for the U.S. investments,” he said.
Yeddyurappa said: “I know that the fear of global recession is lurking in everyone’s mind. Yet, I would like to assure that the Indian economy and our financial institutions are strong enough to absorb the shock. In 1998, around 250 U.S. companies set up operations in Bangalore. The count now is more than 500, including multinational firms such as Microsoft, INTEL, and DELL.” The Government of Karnataka would extend all support to the U.S. companies keen on setting up base in the State.
He said that the U.S State of Maryland had chosen Bangalore to locate its first India trade office. It would facilitate two-way business interactions and for incubation of Maryland companies looking to starting operations in India. The State Government would play a pro-active role in accelerating the tempo of industrial development through a series of policy initiatives in the form of Industrial Policy, Agro Food Processing Industrial Policy, Export Policy, IT Policy, BT Policy, Tourism Policy and Infrastructure Policy, he added.