TheNFAPost Podcast

• Karnataka having three approved major industrial corridors

• Industrial Corridors connecting Bengaluru with three metropolis

• Nirani says state offers excellent investment opportunities

• CBIC will be a great success story for state and nation

• Karnataka is the top FDI recipient for Q1, FY 2021-22

Bengaluru, NFAPost: Pitching Karnataka as the best place for global investors, Large and Medium Industries Minister Murugesh Nirani on Thursday said Karnataka will be the only state in India to have three major Industrial Corridors.

The Minister was speaking at a programme organised by the KIADB as part of Azadi Ka Amrit Mahotsav (platinum jubilee celebrations of Independence) at a private hotel here.

Highlighting the thriving business ecosystem in the State, Murugesh Nirani said Karnataka offers excellent investment opportunities.

“Karnataka will be the only state in India to have three major Industrial Corridors connecting Bengaluru with three metropolises of India. The three Industrial Corridors; Chennai-Bangalore Industrial Corridor (CBIC), Bangalore-Mumbai Economic Corridor (BMEC) and Hyderabad-Bangalore Industrial Corridor (HBIC) are being developed by the National Industrial Corridor Development Corporation Ltd. (NICDC). And implementation of CBIC is gaining momentum. Our Government will take necessary measures to make sure that CBIC will be a great success story for Karnataka and the nation,” Murugesh Nirani said.

Explaining the state’s dominant position in the industrial sector, Murugesh Nirani said successive governments strived to make Karnataka no.1 investor-friendly state in India.

“Karnataka has become a preferred destination for leading businesses as it provides a cost competitive manufacturing environment. With 7.09 % GSDP during the last decade Karnataka is emerging as the 4th largest economy in India and Per Capita Income is 5th highest among other states. It is the 8th largest state by population comprising 31 districts that offer choices for focused investments. We are in the 4th spot in terms of skilled workforce and now we have reached the pinnacle of attaining No. 1 position in terms of attracting FDIs in India for Q1,FY 2021-22,” stated the minister.

The minister said Karnataka has emerged as a knowledge hub of India in the last 50 years and home to more than 400 Research & Development centres. “It is a proud journey of 75 years for us wherein more than 700 MNCs including majority of the global Fortune 500 Companies have chosen Karnataka as their major investment area concentrating around Bengaluru and making it 4th largest Technology Cluster in the world. And highest employment opportunities are also created in the state,” Nirani added.

Pointing out Karnataka’s role in nation building, the minister said the state played a pivotal role in taking the country on the path of development.

“Karnataka’s participation in the Independence movement is well recorded in history and during the last 75 years, the state’s contribution to the nation’s overall development is exemplary. Karnataka has always been a pioneering state, be it land reforms, Panchayati Raj reforms, industrial policies, innovation and various other public policies that have opened the doors for investments in knowledge and skill-based industries,” Murugesh Nirani expressed.

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