Karnataka story different from other states, we compete internationally: CM Bommai
Davos(PTI): With a number of Indian states lining up here at the WEF Annual Meeting to woo investors, Karnataka Chief Minister B S Bommai on Wednesday said his state is the "safest place to do business" and it is not competing domestically but at the international level and listed hydrogen and ammonia fuel as the next focus areas.
He also said that nearly half of the foreign companies present in India are already in Karnataka and all of them are planning to expand and diversify in the state while many more are evincing interest attracted by the robust infrastructure, talent pool and ease of doing business in the state.
In an interview to PTI at the World Economic Forum Annual Meeting 2022 here, Bommai said the process to decongest the state capital Bengaluru is underway by developing many adjoining areas as well as tier 2 and tier 3 cities while four more airports would be built this year.
"Karnataka story is different from other states," he said.
Talking about his visit here, Bommai said Davos experience has been excellent and he has witnessed that the international investor community has recognised India as an emerging economic giant and particularly Karnataka.
"In the aftermath of Covid-19, lockdowns and China's economic downfall, most of the countries are looking at India and their first destination is Karnataka and Bengaluru, because of a highly-tech ecosystem which we have, highest number of R&D centres and our expertise in aerospace, defence, machinery tools and of course Information Technology and Biotechnology," he said.
"Also, we have got long-standing relations with most of the forward looking countries, both in the European and American blocks. Almost 50 per cent of the foreign companies present in India are already in Karnataka. The state is also on the top in terms of the FDI flow in the last one year, with almost 42 per cent share of the total flow coming into the country," he said.
Further, Bommai said that in niche areas like renewable energy, electric vehicles and battery storage, the state government has taken a lot of initiatives.
"We are aware of climate change and everyone needs to ensure that fossil emissions are limited and therefore role of renewal energy is very important. Karnataka accounts for 63 per cent of renewable energy production," he said.
The chief minister said that most of the foreign companies already present in Karnataka are planning to expand and diversify in the state.
"Many of them have already approached us and we have cleared their plans while others are in the process of finalising their plans. Companies that are present in Karnataka will not go back or move to other states, because of the ecosystem and business friendly atmosphere the state offers.
"Not a single one has any intention to leave, rather most of them have offered their expansion plans," he asserted.
Bommai listed semiconductor, hydrogen fuel and ammonia as among the other focus areas for the state going forward.
"A lot of companies are talking to us. The hydrogen fuel initiative is on anvil. A strategic location and certain facilities are required, which we have offered to the companies.
"We have got a renewable energy policy. We are now getting into hydrogen fuel in a big way, and also to create ammonia from different sources. We will also look at exports," he said.
The Karnataka leader said that necessary infrastructure is being created for domestic as well as export purposes.
"We are also looking beyond Bengaluru for all these projects. We are also going to decongest Bengaluru. That is necessary and the work has already begun.
"We are looking at nearby areas to the state capital and also at tier-2 and tier-3 cities. We have got very good air connectivity and we are building another four airports this year," he added.
Bommai said that investors know very well that Karnataka is the safest place to do business with all necessary infrastructure and support system.
"We are competing internationally, not at the domestic level. Companies present in the state are with us and very happy and we want them to invest more. Both the state and the entrepreneurs should benefit from our growth story," he added.
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Real Madrid fines Valverde and Tchouaméni half a million euros each for altercation
Barcelona (AP): Real Madrid slapped players Federico Valverde and Aurélien Tchouaméni with half-a-million-euro ($588,000) fines on Friday for their altercation during practice.
The massive fines came a day after the midfielders tussled when the team trained. Valverde said in a post on social media on Thursday that no punches were thrown. But Valverde knocked his head on a table and he suffered a small cut that required a brief hospital visit.
On social media, Valverde initially called it a “meaningless fight” with a teammate and said “everything has been blown out of proportion."
His employers, however, considered it a significant enough breach of team discipline to nail both Valverde and Tchouaméni with fines that bite even the bank account of a top soccer player. The half-a-million euro penalties reflect the reputational damage the club was enduring in a chaotic end to a disappointing season.
In a statement, the 15-time European champion said its disciplinary action was concluded after both players expressed to the club “their complete remorse for what happened and apologized to one another.”
Madrid added they also apologized to their teammates, the coaching staff and club supporters, as well as showing their willingness to accept whatever disciplinary action the club deemed “opportune.”
Tchouaméni was back training with Madrid on Friday, two days before they play at Barcelona in a clasico. Madrid has to win otherwise Barcelona will be crowned La Liga champion.
After being notified of the fine, he posted a public apology to the club and its fans on social media.
“What happened this week in training is unacceptable,” Tchouaméni wrote. "I say this while thinking about the example we are expected to set for young people, whether in football or at school.
“Above all, I am sorry for the image we projected of the club.”
Valverde was not at practice due to the head knock.
Both players are set to play in the World Cup next month, with Tchouaméni playing for France and Valverde for Uruguay.
Chaotic end to a poor season
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The run-in between the players, who for seasons have played side by side in Madrid's midfield, came after they argued this week in previous training sessions. But tempers boiled over on Thursday. Spanish media was rife with reports that the players previously disagreed over the club's decision to let coach Xabi Alonso go after just months on the job.
It was not the only altercation involving Madrid players during training this week. Álvaro Carreras confirmed he was in a “minor” incident with a teammate. Spanish media said he and fellow defender Antonio Rüdiger got into a scuffle.
Álvaro Arbeloa, the coach who was promoted from Madrid's reserve team when Alonso was fired in January, will face tough questions on what went wrong inside the changing room when he gives a press conference on Saturday ahead of the clasico at Camp Nou.
Madrid is facing a second consecutive campaign without a major trophy amid rumors in the Spanish media that club president Florentino Pérez is considering bringing back Jose Mourinho to straighten out his underperforming team.
