From Our Special Correspondent
Daijiworld Media Network
Bengaluru, Jun 2: Deputy Chief Minister Dr C N Ashwath Narayan has rolled out a red carpet for investors in Karnataka in the high-tech Electronics System and Design Manufacturing (ESDM) sector.
Speaking at a video conference organised by Invest India for a few select states with leading ESDM players across the globe, Dr Narayan said Karnataka had been a pioneer in technology by introducing industry friendly polices from the beginning.
“Karnataka is one of the most prosperous States in the country, with an estimated GSDP of almost $220 billion. We have a vibrant IT, BT, automobile, agro, aerospace, textile & garment, and heavy engineering industries. We have created sector-specific SEZs for key industries such as IT, biotechnology, and engineering, food processing and aerospace,'' he said.
Dr Narayan, who is handling Higher Education, Information Technology and Biotechnology, Science and Technology and Skill development, Entrepreneurship and Livelihood, asked investors to make use of the industrial friendly government and atmosphere in the State.
He said Karnataka was one of the top three States to attract highest Foreign Direct Investments after Maharashtra and Delhi and pointed out that the ‘cumulative FDI inflows in the state from 2000 to 2019 were recorded at US $ 42.3 billion’.
Recalling that Karnataka was the first State to announce sector specific policies, the Deputy Chief Minister said “We were the first to come out with IT, BT, ESDM and AVGC (Animation, Visual Effects, Gaming and Comics) policies to give push to the growth of the technology sectors and innovation.’’
Dr Narayan mentioned that Karnataka continues to be the most preferred destination for all foreign majors.
The investor friendly policies of the State Government coupled with several other factors like ``salubrious climate, good Law and Order situation, talent pool of highly trained professionals, cosmopolitan social life,’’ he said promising additional incentives over and above Government of India schemes for ESDM.
Dr Narayan said Karnataka continuous to be the leader in attracting technology specific investments.
The deputy Chief Minister said that the State contributes 64% to the nation’s ESDM exports. “We are the largest chip design hub and home to 70% of India’s chip designers,'' he said.
Referring to the Karnataka ESDM policy 2017-2022, Dr Narayan said: “We aim to stimulate growth of 2,000 ESDM start-ups during the policy period and create 20 lakh new jobs by 2025.’’
He also said skill development, quality infrastructure, ecosystem support, encouragement to start-ups and Ease of Doing Business were the USP of the State.
Referring to the global pandemic COVID 19, the Deputy Chief Minister said: “We have held multiple consultations with the private sector to seek inputs for returning to business as usual as we ease the COVID 19 lockdown restrictions. We are also initiating dialogue with countries across the globe to understand future plans for their companies in the post COVID era and discuss how Government of Karnataka can support that.''