Invest Karnataka Meet 2022 Grabs Global Investors’ Attention

Invest Karnataka Meet 2022, a three-day event that begins on November 2 and will last till November 4 in Bengaluru with more than 80 speakers. PM Modi inaugurated the event via video conferencing. The meet is intended to draw potential investors and establish a development roadmap for the following ten years, according to the PMO.

The speakers include some of the top industry leaders including Kumar Mangalam Birla, Sajjan Jindal, and Vikram Kirloskar among others. Along with this, several business exhibitions with more than three hundred exhibitors, and country sessions would run parallelly.

The host for the country sessions would be France, Germany, the Netherlands, South Korea, Japan, and Australia. Each of these nations would send high-level ministerial and business delegations to the event.

CM Bommai calls 'Invest Karnataka' an important meeting wherein all technocrats, young engineers, IT/BT experts, start-ups, educational institutions, and global and domestic investors are welcome.

’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," says CM Bommai.

Further CM Bommai also mentioned the State High-Level Committee that has already given clearance for an investment of over ₹ 2.8 lakh crore. Over ₹ 5 lakh crore investment is expected in total.

As most of the investors have shown interest in investment beyond Bengaluru Bommai stated "New industries are coming up in Ramanagar, Hubballi-Dharwad, Ballari, Kalaburagi, and Mysuru. The State of Karnataka is making a big leap in the industrial sector and it will be evident."

Industries are now expanding outside regional boundaries. The FMCG Cluster, which will be built near Dharwad, was inaugurated last week in Hubballi and is anticipated to get an investment of 10,000 crores. More than a lakh people will have jobs due to this. Textile parks will be built in the Kalaburagi, Vijayapura, and Raichur districts, as well as a defense production facility in Tumkur, a pharmaceutical park in Yadgir, an electronic park in Mysuru, and a park for electronics.

Their goal is to add $1 trillion to the Indian economy, which the prime minister estimates are worth $5 trillion. Karnataka has the same ecosystem that exists in China. The manufacturing sector is one where the state has made progress.

In addition, it is a leader in the iron, steel, energy, mechanical and electrical industries. A solid foundation has also been built for electronic and artificial intelligence, aside from this. We have led the way in IT and BT (Business Tech) over the past 20 years, and Bengaluru is known as Silicon Valley. The majority of jobs in this industry are created in IT and telecommunications, with Karnataka contributing 40% of its exports in these areas.

In terms of agriculture output, IT/BT, start-ups, and other areas, the state is ahead. Ease of Doing Business, an industrial policy, has aided in luring investment to this area. In the previous four quarters, the State attracted 38% of foreign direct investment.