Karnataka Chief Minister Siddaramaiah on Friday urged Chinese companies to invest in the state and make it a hi-tech manufacturing hub of India.
"Our new industrial policy (2014-19) is manufacturing centric. As our vision is to make the state an innovative and hi-tech manufacturing hub, we will engage with China to make it a partner in building a strong and prosperous Karnataka," Siddaramaiah said at the sixth China-India Forum meeting in Bengaluru.
Some MoUs were also signed at the forum.
Asserting that the state had hi-technology and talented workforce, he said Karnataka was the place for overseas companies to come and invest in the manufacturing and infrastructure sectors.
"Every international delegation makes Bengaluru its destination in India because the state was booming with economic activity," Siddaramaiah told the delegates from China.
Referring to the sister-state agreement Karnataka had signed with the provincial government of China's Sichuan, the Chief Minister called for exploring joint ventures in industry verticals such as defence, energy, infrastructure, agriculture and food processing.
Trade and investments between India and China are expected to increase as India sees big opportunities to attract Chinese companies to Make in India, besides attracting investments, said Karnataka Minister for Large and Medium Industries RV Deshpande.
He added, “Karnataka is an ideal first choice for investment as one of the most entrepreneurial states in the country. There are huge opportunities for collaboration between Karnataka and China.”
"Though bilateral trade between the two Asian giants reached $70 billion in 2015, exports from India were $8.86 billion while imports from China were $61.54 billion. As the balance of trade is in favour of China, there is huge potential to bridge the gap by increasing exports from India to China," he said.
Chinese Minister Liu Jin Song, Hubei Province Governor Wang Xiadong and Chinese Consul General Zheng Xiyuan Jong were among the participants at the day-long meeting.
(With IANS inputs)