From Our Special Correspondent

Daijiworld Media Network

Bengaluru, Aug 7: American Chamber of Commerce in India (AMCHAM) organised a Karnataka State Session as a part of their annual general body meeting (AGM) for the year 2020 in Bengaluru on Friday.

Deputy chief minister Dr C N Ashwath Narayan delivered the keynote address and emphasized the role of the state at the forefront of economic development and innovation in all sectors.

He spoke about a number of legislative and structural reforms taken up by the state while bringing about a change in the overall policy outlook. Many of the reforms have been brought into action already and more will be done as the days pass. 

Dr Ashwath Narayan, who is also the minister for Higher Education, said the recent steps to simplify the procedure for establishment of industries in the state, by the promulgation of the Karnataka Industrial (Facilitation) (Amendment) Ordinance 2020, providing an initial exemption from obtaining the pre-operative clearance for a period of 3 years or till the date of commercial operation for newly established industries were the innovative measures taken by the state government.

He said Karnataka is at the forefront of attracting FDI investments in the country and that the government will set the benchmark as we progress post-Covid-19.

In the last few months since the lockdown, Karnataka has attracted investment worth Rs 28,000 crore and created 45,994 jobs in the state.

Karnataka is also proud to be the first state to have created a Karnataka Innovation Authority, possibly the world’s first non-sector specific regulatory sandbox, the deputy chief minister said.

He also offered all the support from the Government of Karnataka in setting up a Global Academy (on the lines being run by them in Berlin) to train students in the relevant knowledge domains.

Sanjay Vyas, country head, Parexel spoke about the need for skilled manpower, especially in the Biotechnology sector.

The American Chamber of Commerce in India (AMCHAM– India) is an association of American business organizations operating in India.

AMCHAM – India is a member of the Chamber of Commerce of USA, Washington DC, USA (COCUSA) and the AmChams of Asia Pacific. AMCHAM’s principal objective is to promote activities that encourage American companies to invest in India