Bengaluru is a destination for global investors, says CM Basavaraj Bommai

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

Talking to reporters after inspecting the arrangements for the three-day meet at Palace Ground here on Tuesday, he said the 'Invest Karnataka' is going to grab the attention of the whole world. Global investment is coming here as Karnataka has a rich atmosphere. 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 welcome to Bengaluru.

"We are expecting over Rs 5 lakh crore investment and the State High level Committee has already 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. The State of Karnataka is making a big leap in the industrial sector and it will be evident in tomorrow's meet, "the CM said.

Bommai 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.

Today, industries are crossing the regional barrier. The dream of Beyond Bengaluru is becoming a reality. Last week, the FMCG Cluster to come up in Dharwad was inaugurated in Hubballi and expected an investment of Rs 10,000 crore. It is going to provide employment to over one lakh people. The textile park will come up in Kalaburagi, Vijayapura and Raichur districts; Pharma Park in Yadgir; Electronic Park in Mysuru and Defense production unit in Tumkur. "The situation is conducive in Karnataka and plays an important role in building New Karnataka. Our aim is to contribute One Trillion Dollar to the Prime Minister's five Trillion dollar economy of India. 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. 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.