Bengaluru : The Karnataka state government under the leadership of Chief Minister of Karnataka B.S. Yediyurappa addressed various industry captains, business houses, thought leaders to discuss the opportunities to attract trade and investments to the state, this evening at the 7th (virtual meet) Public Affairs Forum of India (PAFI) National Forum 2020.
The meeting touched upon numerous business opportunities and investments that are available for domestic investors in Karnataka. Chief Minister held talks with industry captains and detailed on the vast opportunities in IT, ITES services, machine tooling, manufacturing, aerospace, biotechnology, and engineering design. Karnataka is the favoured choice of for investors and is home to 400 of the Fortune 500 companies in the world. The state is currently ranked second in terms of FDI investments for the period ending June 2020, Chief Minister B.S. Yediyurappa said.
Karnataka has attracted investment worth INR 1.38 lakh crores, the highest in the country which would create 70,000 direct employment in the State, he added.
Karnataka has been an attractive investment destination and is one of the most industrially advanced states in India. Today, Karnataka is a nearly US$ 250 billion economy and growing strong. The state has been leading the country in several sectors. The state has traditional strengths in a wide range of industries – such as Machine tools, Heavy machinery, Automobiles, Electronics, Aerospace & Defense, Biotechnology.
Keeping the investor-centric approach, our government has launched the New Industrial Policy 2020-2025, to build a prosperous Karnataka and create large-scale employment opportunities. The state is committed to bringing ease to regulatory compliance for businesses. And has started an ambitious program for reforms in partnership with departments and various stakeholders to make it easier, simpler and quicker for businesses to start and operate in the state, Jagadish Shettar Large, Small, Medium scale Industries Minister said.
I sincerely believe, one such great opportunity to make Karnataka a more vital hub of investment and build a robust industrialised economy that will set a benchmark for other states in the country, Shettar added.
The state is taking cautious steps to reboot the economy and support economic activities in the state. The recent 2019 NITI Aayog 2019 Innovation Index has Karnataka at the top. This has been possible due to the availability of quality human resources, reputed higher educational institutions, and a significant thrust on research and development aided by a proactive administration and conducive investment climate.
“The current pandemic has taught us the importance of building a strong value chain. As a leading industrial State, Karnataka offers industries to not only localize supply chains and de-risk their operations but also strengthen the local ecosystem that would help in creating cost-effective and sustainable solutions,” Gaurav Gupta, IAS, Principal Secretary, Commerce & Industries Department, Government of Karnataka said.
The virtual delegation meeting was attended Jagadish Shettar Large, Small, Medium scale Industries Minister, Gaurav Gupta, Principal Secretary – Commerce and industries, Commissioner for Industrial Development, Gunjan Krishna Commissioner for Industrial Development and Director of Industries and Commerce, Revanna Gowda, Managing Director, Karnataka Udyog Mitra, Ajay Khanna, Forum Chairman & Co-Founder, PAFI, Ishteyaque Amjad President, PAFI, Sustainability Coca-Cola, India and South-West Asia, Dr Rajiv Kumar Vice Chairman NITI Aayog, Uday Kotak, President, CII and Managing Director & CEO Kotak Mahindra Bank Limited Subho Ray Vice President, PAFI & President, Internet and Mobile Association of India (IAMAI), Rahul Sharma, Past President & Founding Member, PAFI & Managing Director APCO Worldwide, Nisha Biswal, President, USIBC & Senior Vice President, South Asia US Chamber of Commerce.
Public Affairs Forum of India (PAFI) is the only platform for corporate public affairs practitioners in the country. PAFI has representation from large and medium-sized transnational Indian and foreign companies. Its objective is to redefine the paradigm of engagement for businesses with external stakeholders, from Government to Media to Civil Society and Academia. PAFI is dedicated to raise and maintain standards in Public Affairs, Public Policy & Advocacy and to enable the industry to attain recognition and credibility.
Since its inception, PAFI has been actively promoting transparent Public Affairs, Advocacy & Policymaking. It provides a networking platform and opportunities to exchange views and share experience between corporates and various stakeholders, through panel discussions, seminars, closed-door dialogues and the Annual National Forum. PAFI also undertakes training programmes for public affairs professionals and is now looking at expanding its footprints into critical states.
PAFI has completed 11 years of work in the field of Public Affairs, Advocacy &. Public policy.