Karnataka government will make around 50,000 acres of land available for industrial use across the State in the next six months, according to Large and Medium Industries Minister Murugesh R. Nirani.

The minister said that the State is number one in the country for ease of doing business. Additionally, the State’s share of foreign direct investment (FDI) is 38 per cent. Along with that, in aerospace and defence as well, Karnataka is number one in the country with more than 63 per cent of the market, and major multinational companies in the sector have set up their R&D centres here, said the minister during the Confederation of Indian Industry (CII) Karnataka Annual Meet 2023.

The minister added that, with a strong industrial environment, the government is dedicated to decongesting Bengaluru while simultaneously concentrating on developing outside of Bengaluru.

Vision document

During the meeting, a vision document on Karnataka @100: Inclusive and Sustainable Karnataka for Morally, Economically, and Technologically Advanced India by 2047 was also released.

The document is an exercise by CII and IIM Bangalore to understand the people’s vision for Karnataka over the next 25 years and propose a roadmap that will highlight the collaborative multi-stakeholder movement for pursuing the goals for Karnataka at 100.

“Karnataka is taking strides in sectors such as space technology, material sciences, health sciences, sustainable energy, and sustainability,” said Arjun Ranga, Chairman, CII Karnataka State Council, Director, NR Group, and Managing Director, Cycle Pure Agarbathis.

Furthermore, he said, the state and the industry, along with other stakeholders, have been working towards inclusive and sustainable growth by focusing on the development of Tier-2 cities and continue to work on enhancing the ease of doing business, especially for MSMEs, and providing the necessary infrastructure for talent mobility and market connectivity.

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