Chief Minister Siddaramaiah described Karnataka as the most investor-friendly State in the country and said that it expects to garner around Rs. 5 lakh crore worth of investment at the Global Investors Conference to be held in Bengaluru in February.
He was speaking after inaugurating the State-level conference of the local chapters of Federation of Karnataka Chamber of Commerce and Industry to mark its centenary here.
He ridiculed the claims of “flight of capital” and “flight of industries” from the State and said no industry will leave Karnataka in view of the industry-friendly climate. The Chief Minister said the government had simplified the taxation system, and revoked trade licence and the new Industrial Policy, unveiled last year, was rolled out with the objective of accelerating growth, he said.
The State government had cleared more than 450 industrial projects in the last 2.5 years and attracted Rs. 1.21 lakh crore investments to Karnataka, Mr. Siddaramaiah said. 12,500 acres of land had been acquired in the Tumakuru region for setting up a manufacturing zone and Bengaluru was being linked to the proposed Bengaluru-Chennai Industrial Corridor and Mumbai-Bengaluru Financial Corridor.
The Chief Minister also unveiled a model of the Centenary Bhavan on the occasion.
FKCCI members submitted a memorandum to Mr. Siddaramaiah seeking a revocation of the 99-year lease-cum-sale policy, which has come into effect in the State, besides seeking loan and advances through the Karnataka State Financial Corporation at an attractive rate of interest to boost micro, small and medium enterprises in the State.
FKCCI president Tallam R. Dwarkanath, KSSIDC chairman D. Gurappa Naidu, and FKCCI district convenor Sudhakar Shetty were present. Nearly 400 members from different districts are participating in the two-day conference, which will conclude on Sunday.
