Special Correspondent

Report says agro-processing, textile are emerging sectors

Bangalore: In its quest to diversify its investment character beyond Information Technology, the Karnataka Government has to make a mammoth effort to improve overall infrastructure, particularly in Tier-II cities, to provide competitive investment opportunities with a sound eco-system.

A report titled “Investing Karnataka – Towards Faster and Inclusive Growth (2009)”, jointly prepared by the Bangalore Chamber of Industry and Commerce and the global consulting company, KPMG, has identified agro-processing and textiles sectors emerging with a competitive advantage after IT and biotechnology. The report is to be presented to the State Government, which is preparing to hold the second Global Investors Meet in June. “Over the years, Karnataka has created a distinct identity for itself through a well thought-out approach and investor-friendly policies.

Given these, the State is now gradually moving towards becoming one of the most preferred investment destinations for investors the world over.

The State has successfully created for itself an image of being the IT powerhouse of India and is now advancing its knowledge power to other industries like biotechnology, agro processing, textile and aeronautical engineering”, said the survey report. It found the State to be scoring well on social infrastructure and with a competitive advantage in IT and BT sectors.

Respondents from 20 companies from IT, automotive, education, real estate and engineering, while acknowledging successful efforts in attracting major international companies in several sectors apart from IT, however felt that more power should be made available to attract investments.

The respondents gave the maximum ranking to Karnataka for being an attractive investment destination.