Karnataka GSDP may touch Rs 35 trn in five year: Deputy CM Narayan

Karnataka's Gross State Domestic

Product (GSDP) may touch Rs 35 lakh crore in the next five years notwithstanding the COVID-19 pandemic impact, state Deputy Chief Minister Dr C N Ashwath Narayan said on Sunday.

The state, whose GSDP now stands at 15.35 lakh crore, has the potential to reach the Rs 35 lakh crore and the government was leaving stone unturned to make it a reality, Narayan, who holds the IT/BT and higher education portfolio, said.

"The GDP of the state of Karnataka is growing sustainably amidst many challenges including COVID-19 and it may touch Rs 35 Lakh crore in the next five years," he said during an online platform 'Feature Karnataka Summit-2020 organised by SpareTravel Media and Exhibition organisation.

The government has taken various measures to further strengthen agriculture, Information Technology, and Bio- technology, industry, production and service sectors which are the core areas of the state's economy, he said.

Narayan said the state would build an industrial corridor in the stretch between Mysuru and Bidar to augment the development of industry and commerce.

About the measures taken to attract investments, he said the state had introduced the Land Reform Amendment Act, APMC Amendment Act and simplification of labour laws.