Karnataka is competing for investment globally, not nationally: DCM DK Shivakumar

Bengaluru, Feb 14: Hailing the success of Invest Karnataka 2025 as a reflection of Karnataka’s strength, Deputy Chief Minister DK Shivakumar today said that the state was not competing for investment with other states or cities in India but was competing at a global level.

Speaking at the award ceremony of Invest Karnataka at Palace Grounds, he said, “Several investment agreements have been signed over the last four days. The investors can believe in Karnataka, it never fails. You heard Sajjan Jindal and Anand Mahindra singing praise for the state.”

“Investing in Karnataka is in the interest of businesses and the country. We aim to develop not just Bengaluru but other parts of the state as well. Our state is taking giant strides in aerospace and other industries. MSMEs are a big strength for Karnataka.”

“The industries which started during Nehru’s time have grown to become giants today. Large corporations from other countries and India have come to Karnataka reposing faith in our policies and business environment. The new industrial policy encourages investment in other regions of the state as well,” he said.

“Karnataka has announced a new tourism policy under the leadership of H K Patil. The new policy envisages developing 300 km of coastal zone while preserving historic places in the region,” he added.

“It was late Chief Minister SM Krishna who started the concept of investors meet for the first time in the country. Global investors meet is a formal platform for investors to invest in the state. However, the state is open for business all through the year. We are always available to assist and serve you. The team led by MB Patil has done a good job to make this event successful. Congratulations to all those who were involved in the successful completion of Invest Karnataka 2025,” he concluded.

Later, addressing a joint press conference with Industries and Commerce Minister M B Patil, he said, “Investments worth Rs 10.27 lakh crore has come in during the summit. Of which, Rs 4.3 lakh crore investments have been finalised and agreements have been signed for another Rs 6 lakh crore.

“Our government has decided to give incentives for investments based on Nanjundappa report. We will also provide land for enterprises. Many enterprises are setting up businesses in Karnataka. Foxconn will be starting its operations in Doddaballapur soon and it will employ about 40,000 people. Many businessmen and executives from Aero India also attended Investors Meet. Karnataka is the pioneer in aerospace industry,” he added.
Asked about higher investment interest in energy sector, he said, “One Nation One Grid allows seamless transmission of power from one state to another. The EV and energy policy of our state is a role model for others in the country.”

About Author