Invest Karnataka 2025: 18 countries to participate, Rs 10 lakh cr investment proposals expected
Bengaluru, Feb 3 (PTI): Karnataka Deputy Chief Minister DK Shivakumar announced on Monday that the Global Investors’ Meet – Invest Karnataka 2025, set to be inaugurated on February 11 at is expected to attract investment proposals worth Rs 10 lakh crore.
Chairing a meeting to review the preparations and interdepartmental coordination, Shivakumar stated that 18 countries will participate in the state government’s flagship event.
"Over 2,000 investors have already registered, and around 60 speakers will address key topics. In the event, nine countries will set up dedicated pavilions to showcase their industries and investment potential," he said.
Shivakumar highlighted the extensive efforts undertaken by Industry Minister MB Patil, who has been actively involved in ensuring the success of the event.
Patil has led delegations to the US, South Korea, Japan, Singapore, and several European nations, conducting roadshows and interactive meetings with potential investors.
Addressing a press conference here, Patil said that invest Karnataka meet happens every year but this year's event will be different from the previous year because all the states are participating.
"We are planning to make it more meaningful. The Global Investors' Meet 2025 will be based on a theme 'Reimagining Growth'. It will be based on four verticals: Tech Driven, Green, Inclusive and Resilient," he said.
Drawing inspiration from the World Economic Forum (WEF) in Davos, the Minister said will see the unveiling of new policies and initiatives, with a strong focus on ensuring that three-fourths of the proposed investments are implemented on the ground.
To facilitate smooth networking and business interactions, the event inauguration has been scheduled for the evening of February 11. There will be dedicated business sessions on February 12 and 13, he said.
"We are also bringing in a new industrial policy. The highlight of the new industrial policy is that we are offering flexible incentives based on turnover or capital investment. We are also offering incentives on employment and additional incentives for women employment," he said.
"Sustainability goals and 'Beyond Bengaluru Project' will also get incentives. There will be an additional three percent incentives on investments in backward and five per cent in extremely backward regions. There will be 10 percent incentives for those manufacturing firms who have Research and Development units," the Minister said.
Patil also announced the introduction of business-friendly reforms, including ease of doing business measures and a revamped Single Window System.
Additionally, efforts will be made to encourage Research & Development (R&D) centers and Global Capability Centers (GCCs) in Bengaluru to engage in local manufacturing. Special emphasis will be placed on green energy and the development of the electric vehicle (EV) ecosystem," he said.
Sharing further details about the event, the Minister said that many companies have confirmed their participation and Kumar Mangalam Birla, Anand Mahindra and Kiran Mazumdar Shaw will be attending the event.
"We have invited many union ministers. We also invited Prime Minister Narendra Modi to attend the event but since he has to travel to Paris, he would not be able to attend," he said.
Patil said that there will be more than 25 session with over 60 speakers participating in the event. The Karnataka government has also tied up with economists.
"About 16 countries are participating and nine are going to set up their pavilion. Wide range of speakers from various fields and top companies would speak," he said.
Noting that 'VentuRISE' will be organised as Startup Challenge where industries will give problem statement to the startup companies to solve, the Minister said, "It will carry a prize of USD one lakh each for three verticals of electronics, aerospace and defence, and Electrical Vehicles. industries will sponsor this cash prize. Various business meets will take place," he said.
Regarding the potential investments in Karnataka, he said that the state government has got a commitment of Rs seven lakh crore and an additional investment commitment of Rs three lakh crore is expected.
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Accept Congress decision appointing V D Satheesan as Kerala CM: K C Venugopal
Thiruvananthapuram/New Delhi (PTI): Congress general secretary (organisation) K C Venugopal on Thursday accepted the party decision to select V D Satheesan as the chief minister of Kerala and congratulated him.
Speaking to reporters in New Delhi, Venugopal, who was one of the three persons being considered for the post, said he will provide all support to the CM and the UDF government in Kerala.
The decision comes more than 10 days after the results of the April Assembly polls in Kerala were declared.
The Congress-led UDF secured a more than two-thirds majority in the Kerala Assembly elections, but the party has been unable to decide its chief ministerial face due to lobbying by different camps and protests by workers at the ground level.
Besides, Satheesan and Venugopal, senior Congress leader Ramesh Chennithala was also in the race for the CM post.
