Kishore Biyani, Venu Srinivasan, Kiran Shaw advise Karnataka to attract more investments

Udyog Mitra aims to provide easy clearance and complete assistance to investment projects worth Rs 15 cr and more

Karnataka has set up a working group of business leaders including Future Group founder Kishore Biyani, TVS Chairman Venu Srinivasan, Jindal Industries managing director Sajjan Jindal and Biocon chairperson Kiran Mazumdar Shaw to strengthen its investment agency - Karnataka Udyog Mitra.

The working group of industry captains, conceived by industries minister R V Deshpande, will advice the state and become ambassadors to attract investments into Karnataka, a statement said on Monday. The panel includes G V Sanjay Reddy, vice chairman GVK Group, Manipal Global Education T V Mohandas Pai and iSpirit co-founder Sharad Sharma, who held a meeting with the government to attract investors and improve infrastructure in the state.

Udyog Mitra aims to provide easy clearance and complete assistance to investment projects worth Rs 15 crore and more.

"More investments will bring prosperity to the state, jobs for the youth, revenue to the state to solve issues burdening Karnataka and Bengaluru," Deshpande said.

To further enhance speedy clearance of investment projects and handhold companies from different countries, the Udyog Mitra has also set up country-specific pavilions, which is a single point of contact for investment in the State.The idea of strengthening the Udyog Mitra is a constructive action to ensure clearances can be made easier and deliveries are assured, Karnataka started Karnataka Udyog Mitra as a single-window clearance agency for investments into new projects, the statement said.