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Karnataka is among the fastest growing economies in the country, said State Large and Medium Industries Minister RV Deshpande.
“In the past two decades, economic and administrative reforms have transformed the State from being an inward looking State-based economy into a globalised market-based economy, now identified as one of the most attractive investment locations globally,” he said.
Thanking investors and entrepreneurs who have reposed trust in Karnataka, Deshpande said the State has again achieved the top spot in the country as the most attractive investment destination as per the DIPP’s SIA Index up to September 2017 with investment proposals worth ₹1,47,625 crore, which is 44.43 per cent of the total investment proposals in the country.
According to the Union Ministry of Commerce and Industry figures, after Karnataka, Gujarat came second (₹65,741 crore), Maharashtra third (₹25,018 crore), Andhra Pradesh fourth (₹24,013 crore) and Telangana fifth (₹12,567 crore).
In FDI flow, the State accounts for a significant share in exports as well as the FDI that flows into India. Karnataka has attracted FDI of $24.63 billion (₹137,774 crore) from April 2000 to June 2017.
“Karnataka presents huge potential and a robust ecosystem for global and domestic players to invest and innovate. The State has been meticulously working towards attracting investments in various sectors with business-friendly policies, single-window clearances for investments and by introducing ‘Sakala’ for giving quality and timely services to the entrepreneurs,” Deshpande said. The State government has been proactive in improving the ‘ease of doing business’ climate in the State by introducing numerous initiatives, he added.
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