Karnataka is aligned with PM Modi’s$ 5 trillion economy aim: CM

Yediyurappa inaugurates Invest Karnataka-Hubballi Conference

The State government has set the goal of emerging as a key partner in achieving Prime Minister Narendra Modi’s aim of making India a $ 5 trillion economy by 2024, Chief Minister B.S. Yediyurappa has said.

Inaugurating the Invest Karnataka-Hubballi Conference organised by the Commerce and Industries Department and Karnataka Udyog Mitra here on Friday, Mr. Yediyurappa said that Sir M. Visvesvaraya’s famous dictum “Industrialise or Perish” would be the industrial philosophy of his government.

Removing hitches

According to Mr. Yediyurappa, availability of hi-tech technology and trained workforce has created an industrial-friendly atmosphere in the State. After holding one-to-one discussion with industrialists at the Davos conclave held in Switzerland recently, the State government has taken steps to remove hitches in the way of industrial investment. As a major step, the Land Reforms Act has been amended to make land conversion process faster and hassle-free, he said.

Referring to the industrial growth in North Karnataka region, he said that the State government has given approval to setting up global manufacturing clusters in the region.

Under this plan, various clusters, including an FMCG in Dharwad, toy manufacturing in Koppal, solar implements in Kalaburagi, agriculture machinery in Bidar, and others would come up, he added.

He said that major industrialists always preferred Karnataka, especially Bengaluru and surrounding areas, to set up their units. The government would take steps to channelise industrial investment to tier two cities now, he said.