Bengaluru, May 17: The Infrastructure industry is one industry which can really bring big changes. It is not just about roads, bridges and mining. Infrastructure is needed in every sector. Make good use of modern technology and machinery in this endeavor, Chief Minister Basavaraj Bommai said.
The Chief Minister was speaking at the ‘EXCON 2022’ exhibition of construction machinery.
EXCON 2022 exhibition is an ideal platform for exchange of new innovations and thoughts for the companies involved in this sector. The State government would extend all cooperation and help for those who are keen to invest in Karnataka. Karnataka has been in the forefront in IT, BT, startups, R & D and other sectors. The presence of huge PSUs like HAL, BHEL, NAL have helped in creating an ideal ecosystem to draw investments in various sectors, Bommai said.
Karnataka is home to the highest number of Startups. Over 50% of startups and Unicorns in India are housed in Bengaluru. Over 40% of Foreign Direct Investment in India is flowing into Karnataka. There are over 400 R & D institutions in the state of which over 180 are in Bengaluru.
Boost for R & D
The Chief Minister advocated the need for research at the base level and focus on the welfare of the people at the bottom of the social pyramid. Karnataka has implemented a new R & D policy which encourages research from garage level to big institutional level. Innovation and invention should be encouraged among the youth. The entire ecosystem should foster innovation, as it is in Japan. Karnataka is heading in that direction, Bommai said.
Challenges provide opportunities
Prime Minister Modi’s leadership has shown that you could grow even amid a pandemic. “There will be no development if these are no challenges. Greater the challenges, higher the growth. The first and second world wars brought new technologies in electronics, mechanical and transport sectors,” Bommai said.
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