‘The Aim is to build a Sustainable and Futuristic Karnataka’ Karnataka has emerged as one of the country’s most attractive investment destinations due to the many progressive reforms of the government. The policies, programs and schemes are directed towards building all sectors, throughout the state. “I strongly believe that our aim is to build a holistic, sustainable, and futuristic Karnataka by utilizing the immense opportunity and innovation the state has to offer. We are one of the most important global industrial centres and we also need to make sure to keep up with technology and trends and maintain a standard that helps us compete with international industry leaders. We will offer full support and cooperation to make our state an ideal destination to make investments,” said Murugesh Nirani, Minister for Large Industries, Govt. of Karnataka. In an interview with Advantage Karnataka, the minister talks about the state’s thriving industrial sector, the growth-driving policies and projects of the government and his vision for making Karnataka a top investment destination in the county.
Dr. Murugesh R Nirani Minister for Large and Medium Industries Government of Karnataka As the industries minister of one of the most investor-friendly states in India, what are your priorities and plans to make Karnataka No. 1 in the country? Today, Karnataka has emerged as one of the country’s most attractive investment destinations due to the many progressive reforms of the government. For two successive quarters of the fiscal year 20212022, Karnataka has attracted the highest FDI in the country, close to 46 percent (Rs 2.29 lakh crore) of the total FDI inflow to India. Good news for the investors and industrialists in Karnataka with the introduction of “10-year Lease-cum-Sale” of Karnataka Industrial Areas Development Board (KIADB) land allotted for the
industries. We have identified 22,655 acres of land that will be acquired for industries, making this the biggest such activity in recent times. Our department has fast-tracked the land acquisition process considering the demand from industries. Our priority is giving a big push to growth. The Karnataka industries department has approved 88 industrial projects worth Rs 2,367.99 crores that are expected to generate jobs for over 10,904 people in the state. The government recently approved 48 industrial projects worth Rs 2,062 crore. How do you look at this? At the SLSWCC meeting, the Karnataka government has approved 48 industrial
projects worth Rs 2,062 crores that would create massive employment opportunities. The new projects, each with an investment of more than Rs 15 crores but less than Rs 50 crores were cleared. These projects are valued at Rs 724.87 crores. They are expected to generate employment for more than 6,393 people in the state. Karnataka continues to attract investments in various sectors and has remained a sought-after investment destination in the country. How did the pandemic affect the industrial sector of the state and what are the initiatives taken by the government for the revival? I am proud to say that Karnataka was one of the first states in the country to reopen
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