Rs. 50,000-cr. investment expected in State next year

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Katta Subramanya Naidu
Katta Subramanya Naidu

Staff Reporter

All districts to be linked to Golden Quadrilateral Project

Plan drawn up to generate 4,000 mega watts of power in next two years15,000 acres of land acquired in and around Bangalore for SSIs Wipro, Infosys urged to expand their operations

Bangalore: An investment of Rs. 50,000 crore is expected in the State next year, while exports will touch Rs. 80,000 crore this year, said Minister for Major and Medium Industries Katta Subramanya Naidu here on Tuesday.

He was speaking at a function to distribute Export Excellence Award of the Federation of Karnataka Chambers of Commerce and Industry (FKCCI).

Mr. Subramanya Naidu announced that all districts would soon be linked to the four highways of the Golden Quadrilateral Project to facilitate industrial development.

The Government had drawn up a plan to generate 4,000 mega watts of power in the next two years, he said. As much as 15,000 acres of land had been acquired in and around Bangalore for the development of the small-scale industries, he added.

Urging companies such as Wipro and Infosys to expand their operations in the State, the Minister said the Government was open to attracting every domestic and foreign investor and it would provide all the facilities for their growth.

Referring to reports that industries were moving out of the State, Mr. Subramanya Naidu said this was untrue as an annual growth of 35 per cent had been recorded in software technology parks.

He asked the entrepreneurs to approach him if they faced problems in establishing their businesses. M.V. Rajasekharan, Union Minister of State for Planning, called for investment in research and development for sustainable growth.

He said the Union Government's new investment policy aimed at attracting foreign direct investment, particularly from non-resident Indians. Mr. Rajasekharan gave away awards instituted by the EXIM club of the FKCCI. The best export award in the overall category was won by Mangalore Refinery and Petrochemicals Limited, which recorded an export value of over Rs. 11,000 crore. Federation of Indian Export Organisations, Karnataka Chapter, Visvesvaraya Industrial Trade Centre in Bangalore, and the Commissionerate of Customs were recognised as the top three export facilitation organisations.

Awards were given to companies from 17 districts.

Raj Kumar Khatri, Commissioner for Industrial Development and Director of Industries and Commerce, spoke.

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