Third year in a row, Karnataka remains on top in proposed investments
Till August, it garnered a potential investment of Rs 79,866 crore, which is nearly 60% more than what Gujarat received.
For the third year in a row, Karnataka is set to top the list of States attracting potential investments.
Till August, the State garnered a potential investment of ₹79,866 crore, which is nearly 60% more than Gujarat that received proposals for investment of ₹51,586 crore in the same period, according to investment intention data (Industrial Entrepreneurs Memorandum) from the Centre’s Department of Industrial Policy and Promotion. However, as past data has showed, realisation of these investments needs a major uptick in the State.
Officials said the figures represent the continued rise of the State in attracting investments. In 2013, it was ranked 11 with just ₹10,050 crore proposed investments in the whole year. By 2015, it ranked 4th. However, it was in 2016 and 2017 that Karnataka leap-frogged to the top of the list, becoming the only State to have received more than ₹1.5 lakh crore investments annually. “This calender year included around two months of election processes, which saw a slight slow-down of investments. However, we still have a few months left and we are reasonably confident of matching the investments we had seen last year,” said Gaurav Gupta, Principal Secretary, Commerce and Industries, adding that it was difficult to predict investments considering multiple, complex macro-economics factors such as market sentiments and bank lending.
While investment intentions continue to shoot up, data also shows that realisation of investment is lagging. Though the State had more than ₹3 lakh crore investment in 2016 and 2017, the realisation is just ₹11,617 crore, or less than 5%. This year, nearly ₹4,723 crore worth of investments have been realised.
However, Mr. Gupta said processes had been strengthened to enable realisation of these IEMs. “Every 15 days, there is a review of the projects so that the government can help in any way to see these investments translate on the ground. Things are bound to get better,” he said. The eco-system, particular when it comes to technology and innovation, remained strong in the State and this sees many tech-oriented investment being routed to Karnataka, he added.
Minister for Commerce and Industry K.J. George said there was a continuing effort to promote ease of business in the State, while the State government was open to new investments.
Courtesy: www.thehindu.com
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Sujit Nair raises concerns over speculation of DMK-AIADMK understanding to block TVK
Chennai: Journalist and political commentator Sujit Nair has expressed concern over speculation that the Dravida Munnetra Kazhagam and the All India Anna Dravida Munnetra Kazhagam could explore a post-poll understanding to prevent Vijay-led Tamilaga Vettri Kazhagam from forming the government in Tamil Nadu.
In a social media post, Sujit Nair said the election verdict in Tamil Nadu reflected a clear public demand for political change and argued that the mandate should be respected irrespective of political preferences.
Referring to reports and political discussions surrounding a possible understanding between the DMK and AIADMK, he said he hoped such developments remained only speculative conversations and did not turn into reality.
Nair stated that if such an alliance were to take shape, it would raise serious questions about ideological politics in the country. He said TVK had emerged through a democratic electoral process and that the legitimacy to govern in a parliamentary democracy comes from the people’s verdict.
According to him, attempts to prevent an electoral winner from forming the government through unexpected political arrangements may be constitutionally valid, but many people could view them as politically opportunistic.
He further said that such a move could particularly affect the political image of the DMK, which has historically projected itself around ideology, social justice and opposition politics. Nair said that in ideological terms, the DMK appeared closer to TVK than to the AIADMK, and joining hands with its long-time political rival only to remain in power could weaken its broader political narrative.
He added that the same questions would apply to the AIADMK as well, as the party had spent decades positioning itself against the DMK and such an arrangement could create discomfort among its cadre and supporters.
Drawing a comparison with Maharashtra politics in 2019, Nair said he had expressed similar views when the Shiv Sena formed an alliance with the Indian National Congress and the Nationalist Congress Party after the Assembly elections.
He said post-poll alliances between long-standing political rivals often create a public perception that ideology and electoral mandates become secondary when political power equations come into play.
Nair also said such developments increase public cynicism towards politics and reinforce the belief among voters that ideology is often sidelined after elections.
He maintained that the Tamil Nadu verdict was emphatic and said respecting both the spirit and substance of the mandate was important for the credibility of democratic politics.
