"During the last four years and six months, the state has attracted Rs 3.39 lakh crore of investments," Governor Vajubhai R Vala said.

Karnataka tops in investment intention across India for last 2 years Governor
news Investment Tuesday, February 06, 2018 - 07:47
Written by  IANS

Karnataka rose to the number one position among all states across India in investment intention in 2016 and 2017 from the 11th position in 2013, Governor Vajubhai R Vala said on Monday.

Addressing the joint session of the state legislature, he said the state government had set a Rs 5 lakh crore investment target and 15 lakh jobs for a 5-year period since 2014 when the new industrial policy came into being.

"During the last four years and six months, the state has attracted Rs 3.39 lakh crore of investments for 1,869 projects with potential to generate 9.5 lakh jobs," Vala said.

Of the 13.25 lakh jobs created over the last four and a half years, 1.89 lakh were in the large industry sector and 11.36 lakh in the micro, small and medium enterprises (MSME) sector.

"Karnataka leads the country in the fast-growing IT and biotech sectors. Its i4 policy and multi-sector start-up policy were announced and Incubation centres and IT parks have been set up at various places across the State," said Vala.

The state government's "Nuthana Javali Neethi" policy for five years since 2013 enabled stakeholders to set up 844 textile MSMEs and 18 greenfield textile parks in the state at an investment of Rs 4,954 crore and provided jobs for 1.3 lakh people. Incentives and reliefs worth Rs 247 crore were also given to the firms.

"The state government has given approval to develop the Bengaluru Signature Business Park in 407 acres of land near the city airport at Devanahalli. The government also allotted 16 acres near the airport to build an international convention centre on public-private partnership at a cost of Rs 1,440 crore," said the Governor in his hour-long speech delivered in Hindi.