ADVANTAGE KARNATAKA
‘Invest Karnataka 2022’ event all set to be a grand affair The theme of the upcoming Global Investor Meet (GIM) in Karnataka is ‘Build for the World’ reflecting the role the state aims to play in the global supply chain. As part of GIM, a curtain raiser event was held in Delhi in April, followed by a launch at the World Economic Forum in Davos in May.
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he Karnataka government led by Chief Minister Basavaraj Bommai is making preparations for holding a Global Investor Meet (GIM) titled ‘Invest Karnataka 2022’ at Bengaluru during November 2-4, 2022. The Chief Minister has already launched the logo and theme for the three-day event. The theme of the 2022 edition of GIM is ‘Build for the World’ reflecting the role Karnataka aims to play in the global supply chain. As part of GIM, a curtain raiser event was held in Delhi in April, followed by a launch at the World Economic Forum in Davos in May. Roadshows are also being conducted in major cities and abroad. By organising the event, the Karnataka government aims to attract investments from around the world. Karnataka previously hosted a GIM in 2016, which concluded with 1,201 approved projects and MoUs valued at Rs 3,08,810 crore. During the launch of the theme of the GIM 2022, the Chief Minister said, "Investors have always believed in Karnataka and created the capability for the state to host a GIM. The post-COVID economic growth is the right time to invest in Bengaluru which is not only an IT, BT
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hub but also a financial hub." Bommai called upon Murugesh Nirani, Minister for Large & Medium Scale Industries, to bring in a broad-spectrum and holistic investment across sectors - semiconductors, electronics, defence, aerospace, energy, biotechnology, IT, manufacturing, MSMEs and cottage industries. "The aim is to envision a 'New Karnataka for New India' - creating new 21st century industrial townships and corridors," Bommai said. GIM will comprise plenary sessions, panel discussions and multiple networking opportunities. Over 50 business, political and thought leaders will deal themes and sectors crucial to Karnataka's growth story. More than 5,000 senior delegates across sectors including Manufacturing, Infrastructure, IT, Energy, Education, Tourism are expected to participate. The Karnataka Government points out that the state has an outstanding industrial ecosystem for all major industries. For instance, Karnataka is known as the ‘Silicon Valley of India’ and is home to over 400 MNCs with global R&D centres. Moreover, Bangalore alone produces 60% of the total value of machine tools manufactured in
India. Similarly, Karnataka is the second highest producer of special purpose and heavy electrical machinery in India. Karnataka is also the second largest chip design hub in the country, the largest software exporter in India and has a GSDP of US Dollars 230 billion. The state is also the first in total exports among all Indian states and is the fourth largest technology cluster in the world. It enjoys the first position among R&D Centres in India, in Renewable Energy and in India Innovation Index. In fact, it is home to 400 Fortune 500 Companies. With 65% of India’s Aerospace-related exports originating from Karnataka, the state is a preferred investor destination for Aerospace & Defence companies. Karnataka is a leading contributor to the success of Pharma, Biotech and medical devices in the country also. Karnataka is a global innovation and startup hub too, with more than 400 global R&D centres and 4000+ startups in Bangalore. No wonder, the state has been ranked first In NITI Aayog’s India Innovation Index. Now, the third highest number of startups globally is based in Bangalore.
