Karnataka CM unveils logo of ‘Invest Karnataka 2016’ global investors meet

Aiming to pull huge investment in Karnataka, chief minister Siddaramaiah on Wednesday unveiled the ‘Invest Karnataka 2016’ logo and launched the official website of the event. With the ‘Invest in Karnataka 2016’ initiative, the government has offered investor-friendly policies for the existing and new investors.

The CM unveiled the logo and the website in presence of top bureaucrats, ministers and top industrialists. The logo has been designed to project the culture and heritage of Karnataka, besides the business-readiness of the State. The interactive website will explain the aims of Invest Karnataka 2016 and efforts being made to enable ease of doing business in the State.

Highlighting the importance of Karnataka, CM Siddaramaiah said that Invest Karnataka 2016 has the potential to impact the lives of more than 65 million people of the state from job aspiring young people and the industrialists in the country.

“Government of Karnataka is committed to play the role of catalyst & facilitator to maintain the state position as India’s most preferred investment destination”, Siddaramaiah said

The CM claimed that during his tenure, the state has approved more than 450 projects bringing investments of Rs 1.21 lakh crore and generating 2.44 lakh employments. However, he said that Karnataka needed more industry and business in the state.

“As per the New Industrial Policy we announced last year, we need an annual growth rate of 12 per cent and to attract investments of Rs 5 lakh crore, providing employment to 15 lakh persons in the next five year period”, Siddaramaiah said.

Referring to the present power crisis, the CM assured industries that it was only a temporary occurrence. He claimed that State's power generation capacity has improved.

“The electricity deficit has dropped from 14% to 5% in the past two years. We are working towards energy security for the state and planning to add 22GW of all forms of power by 2022. This includes 14.5 GW of non-renewable and 7.5 GW of re newable energy capacity," he said.

The Invest Karnataka 2016 event seeks investments from across the globe in various sectors such as manufacturing including Automobiles, Aerospace, Machine tools, Defence, Heavy Engineering; Agro and Food Processing, Energy including Renewable Energy, Tourism, Information Technology & Bio Technology, Drugs and Pharmaceuticals, Electronics and Semiconductors manufacturing, Infrastructure Projects, Private Industrial Parks and Smart Townships. The three day global investors meet (GIM) will be held from February 3-5, 2016, at Palace Grounds in Bengaluru.