BENGALURU: The investment landscape in Karnataka is expanding rapidly beyond Bengaluru. Cities like Mysuru, Hubballi-Dharwad, Belagavi, Mangaluru and other Tier-2 locations are gaining traction, thanks to a dynamic investment climate and an abundant skilled workforce.
The state is gearing up to transform these opportunities into tangible investments, Major Industries and Infrastructure Development Minister MB Patil said in an exclusive interview with The New Indian Express, ahead of the Global Investors’ Meet. “Our goal is clear: we want to convert 70 per cent of every expression of interest into real, concrete investment. That’s our target, and we’re committed to making it happen,” said Patil.
With the GIM just days away, Patil is confident that the state’s efforts are paying off. While states like Gujarat, Maharashtra, Uttar Pradesh, Madhya Pradesh, Telangana, Andhra Pradesh and Tamil Nadu are in fierce competition to lure investors, Karnataka’s legacy is unmatched, he said.
“Bengaluru’s infrastructure is world-class, we have the talent, history and infrastructure that gives us a competitive advantage globally,” Patil said, pointing to institutions like IISc, IIM, and major defence hubs like ISRO, BEL, and BHEL.
Karnataka’s talent pool remains one of its biggest assets, he said, but acknowledged the challenges with employability among graduates. “This is an issue that needs to be addressed through the National Education Policy and by UGC. While this doesn’t fall under my department, I understand the problem, and it must be rectified. But let’s not forget we have a vast, skilled workforce,” he said Reflecting on the challenges faced during the last GIM in November 2022, Patil acknowledged that the conversion rate of expression of interest to actual investment was lower than expected, at just 45 per cent. This was compounded by the announcement of elections in March 2023, which led to delays. I won’t comment on past issues but we are determined to do better this time, he said.
.jpg)
Leave Comments