'Invest Karnataka 2016 brought 100-plus ready-to-invest projects'

Invest Karnataka 2016 is the first Global Investors Meet (GIM) with more than 100 ready-to-invest projects, said Karnataka's Large and Medium Industries Minister R.V. Deshpande at the inaugural session here on Wednesday.

"This is perhaps the first (GIM) where such an exercise has been done by government for investors to invest," said Deshpande.

He highlighted more than 300 exhibitors are participating at the GIM in over one lakh square feet area.

Interestingly, 50 percent of the 5,000 delegates participating at the two-day summit belong to Small and Medium Enterprises (SMEs), entrepreneurs, women entrepreneurs and startups among others.

Deshpande said Karnataka state has been a pioneer in industrial transformation of India.

"Right from a 25 million-tonne steel industry, which is the largest in India to the hi-tech industry consisting of IT, biotechnology, nano technology, aerospace, space, garments, granite and iron ore, tourism and fashion, agro, silk - Karnataka has invented, innovated and invested to lead the future of India."

According to Deshpande, Karnataka's strategy is based upon conducive policies, high quality infrastructure, massive investments in human capital, consistent and transparent tax policies and a responsive administration.

Noting that people of Karnataka are its strength, the minister said, "Talent and workforce has made it (Karnataka) the knowledge capital of not only India but also the world, with R&D and innovation centres of more than 400 top Fortune 500 companies."

Karnataka first organised its GIM in 2000 and has sectoral policies with industry participation.

Highlighting that the future of India was being made in Karnataka, Deshpande said, "Invent in Karnataka, innovate in Karnataka, invest in Karnataka".