Karnataka no longer priority for investors like before


Daijiworld Media Network - Bengaluru (SHP)

Bengaluru, Jul 19: Investors have chosen states of Maharashtra and Odisha over Karnataka for investment purposes. The drop was observed from the beginning of the year 2019, where the first five months only gathered investments of Rs 11,219 crore , an astounding 85.1% dip year-on-year.

The Department of Industrial Policy and Promotion (DIPP) in its data stated that in the previous year, Karnataka witnessed investment proposals worth Rs 75,435 crore and was in close competition for the top slot with Gujarat which received a massive of Rs 97,070 crore worth investments up until now, as compared to its Rs 23,543 crore it received during the initial months of 2018.

Karnataka has now been pushed back to an unfortunate fourth spot as investors are opting states of Odisha, Telangana, Andhra Pradesh and Maharashtra over it. Maharashtra has already managed to get over Rs 20,142 crore which puts it on a better spot followed by Odisha.

Several investors have stated that their preferences shifted owing to friendlier business policies in other states apart from Karnataka.

The major reasons for this can be associated to the intense interference by political leaders in the day-to-day operations of the companies. Commerce Ministry has accepted to receiving complaints in this regard. The companies and major firms are pulling away because of the bureaucratic 'red tape' that exists in the state.

The ministry is looking forward to meet the state industry department officials and discuss this alarming issue. It was considered wise to hold the meeting once the political crisis in Karnataka settles.

Defending their stand, the state government blamed the preferences of the investors who are keen on investing in petrochemical industries, and therefore not prioritizing as Karnataka is more of a technology inclined state.

Until May 2019, India has attracted investment worth Rs 1,79,465 crore, a 5.6 per cent dip from the year 2018.

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Comment on this article

  • Xcay, Agaram

    Sun, Jul 21 2019

    A classic example of total indifference and reluctance to clear a an application is my own.
    I have sought a clearance on 22nd February 2014 and still the file is doing g musical chair. These IAS officers and politicians will destroy this State to become the last preferred destination.

    DisAgree Agree [1] Reply Report Abuse

  • mohan, Mangalore

    Sat, Jul 20 2019

    Many investors ready to invest in karnataka... but center is pushing them not invest in no BJP rule state......its not state government issue ... its BJP disguising and not allowing investors to invest in non BJP rule states......

    DisAgree [3] Agree [5] Reply Report Abuse

  • abdulla, india

    Sat, Jul 20 2019

    Thanks to the Politicians:
    TOTAL MESS...
    Just keep one person like Dr. LEE KWAN YEW of Singapore and we see Dr. Kiran shaw the suitable candidate. for Heading solo .the state of karnataka..
    Like Turning down of the Tatas by CKIBrahim with Deve Gowda of the venture between the Tatas with Singapore /Changi international airport
    simply because the Tatas have Morals and Ethics.they do not care for Bribing or Kick backs.
    who lost..we the JANATHA lost the best deal ..
    Devana halli would have been the world s best Airport.. well managed. we LOST. it since few people wanted to enjoy the money/
    2/ Look at the reddys simply Loading..shipping exporting the best raw materials of our CRE Industries of the nation..simply Looted looted and looted un accounted and they become ministers.
    3/When IT came and this area was through the computer s these GOWDAS didn't know how to Hold where ..since it is from the Brain to computer sto the client and simply the billions money Flows in and they buy property/ office setc.
    This are the GOWDAS lost.
    and he was full of anger and owe.
    such is the pity..
    who cares?
    sack all this into Garbage dumps.. like in Ukraine.. literally lift and throw .as these are menace /obstacles/ Thorns: to progress..
    Hope PMModi will clear all this mess...
    all only head counts....money ..horses.
    All useless.

    DisAgree [2] Agree [3] Reply Report Abuse

  • Nicholas, Canada

    Sat, Jul 20 2019

    Sanjeev Kamath, Udupi / Seattle
    The foundation for this condition was put by BJP when Yeddi was CM ,Is continuing by Demonitisation by a PM who was a tea sellerdoesn't have a agenda whose goal is to minimise his stay in India & a Uneducated/a MP chosen on caste basis from a place having highest literate people of DK.So this condition was known 5 years earlier when BJP was elected in centre & confirmed last month when BJP was reelected.People of India waanted this & they are getting it drawn towards stoneage. People like Me & You who stay abroad are happy as rupee value depreciated against $

    DisAgree [2] Agree [2] Reply Report Abuse

  • Vincent Rodrigues, Katapadi/Bangaluru

    Sat, Jul 20 2019

    No one come to you to invest when you does not provide proper infrastructure.

    DisAgree [1] Agree [6] Reply Report Abuse

  • Salim, Bagalkot

    Sat, Jul 20 2019

    No surprise. It had to happen. When the government machinery is put in auto pilot mode then who will bother to invest. Everyday there is a nataka here for kursi. Politicians are busy clinging on to power, then who will take care of development?

    DisAgree Agree [9] Reply Report Abuse

  • H. Almeida., Bendur/Andheri

    Sat, Jul 20 2019

    Tragic and harsh reality of Karnataka State ! Will certainly be ranked in the company of Bihar, Jharkhand and share the ignominy, of being one of the most neglected and backward states in our natio nation !!!!! This terrible, sad state of affairs is primarily due to self centered family rule, in political parties.This present government, misrule lack of vision, corruption, has destroyed the entire future of the state... Industrialists and investors, have moved away to greener pastures... Dakshin Kannada district and Mangaluru city, has rail, road, airport, all weather sea port.... yet there is absolutely NIL DEVELOPMENT FOR THE LAST 60 YEARS !!!!! Educated youths, have to migrate to other cities, states and even cross continent's to seek employment !!!!!

    DisAgree [2] Agree [5] Reply Report Abuse

  • Kanaka Das, Bangalore

    Sat, Jul 20 2019

    When you hand over nation to person who only scored 35% marks how imvestors will pour there money in state. Only after yeddy will be taken over by organizing many seminars investors once again start to flock together due to able government.

    DisAgree [12] Agree [5] Reply Report Abuse

  • Sanjeev Kamath, Udupi / Seattle

    Sat, Jul 20 2019

    This is going to be a permanent feature for the state. Who to please? JDS or Congress? And how much? And down the line?
    Until BJP rules the state after a fulfledged poll, it is going to be a moribund state.
    Till then, keep screaming 'unemployment' in Modi's name to rest your soul in peace!

    DisAgree [8] Agree [8] Reply Report Abuse

  • Desi Jawan, Mangalore

    Fri, Jul 19 2019

    The unstable government in the state is the reason for this

    DisAgree [1] Agree [4] Reply Report Abuse

  • JL, Mangaluru Smart City

    Fri, Jul 19 2019

    Our politicians are partying in resorts.. "Janthaa gayee thel lene"... Only during elections they become our servents.. once results announced, we become their servents...Bholo Bharath Mathaa Ki.....

    DisAgree [2] Agree [13] Reply Report Abuse


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