Karnataka beckons global investors to prosper with state

Bangalore, June 3 (IANS) Karnataka Thursday wooed global investors to build a prosperous state by investing in various infrastructure and other growth-oriented sectors this decade.

‘I invite you to share our vision for 2020 and join our mission to build a prosperous Karnataka. We have a dream to make the state a favourite investment destination in the country and become a model state globally,’ state chief minister B.S. Yeddyurappa told a galaxy of global investors here.

Addressing the global investors, top industrialists, entrepreneurs, policy-makers and officials at the inaugural session of the second Global Investors Meet (GIM 2010), Yeddyurappa said the objective was to achieve equitable development, covering all sections of people and regions of the state.

‘We want to make Karnataka to be peaceful, progressive and prosperous. A state where every farmer or worker leads a life of dignity and respect and where every entrepreneur will have many ventures to start small, but grow big, with opportunities for everyone to dream and realize that dream,’ Yeddyurappa told a gathering of about 2,000 people.

Sharing the vision and his dream of making Karnataka a premier state for global investments and rapid socio-economic development, Yeddyurappa said the GIM was a big step forward in realising the Vision:2020.

‘We want this meet to result in doubling investments and employment opportunities in the next two-three years, and in turn, double the state revenues in three-four years, with accelerated industrialisation,’ he said.

Hoping that the backward regions of north Karnataka would catch up with other parts of the state, the chief minister said huge investment proposals were approved for these areas.

‘Our state has many advantages and opportunities, which will enable us to realise our vision. Karnataka is endowed with abundant natural and talented human resources,’ the chief minister told the delegates.

Noting that Karnataka is blessed with a rich heritage, cosmopolitan culture and salubrious climate, Yeddyurappa said the state had cordial industrial relations and conducive work culture, adding to productivity.

‘We need to create employment opportunities for the youth passing out of technical and other educational institutions. We have set up a skill development commission to train school dropouts and unemployed youth to suit the needs of the industry across the state,’ he pointed out.

With over 1,500 technology institutions and 103 research and development (R&D) centres, the state is known for its skilled human resources and is home to leading knowledge-based industries, aerospace engineering and machine tools.

Recognising the importance of good infrastructure for all-round development of the state, the government is pulling out all stops to build a large network of roads, railway lines, logistic parks, ports and airports.

‘About 100 infrastructure projects have been proposed for private investment in this meet. Among them are 18 industrial estates spanning 30-2,500 acres. We are also creating a land bank in every district to facilitate availability of land to the investors,’ Yeddyurappa added.

The state government has already notified about 63,000 acres of land for acquisition and an additional 40,000 acres will be acquired, based on demand.

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