[vc_row][vc_column][vc_column_text]In a landmark achievement, Karnataka continues to hold on to its numero uno position as India’s topmost investment destination. This was announced recently by Sri R.V. Deshpande, Minister for Large & Medium Industries and Infrastructure.
According to official data, from January 2016 to June 2017, Karnataka has received investment proposals of Rs 1,54,173 crore, retaining its top position in investments.
Quoting figures from the Department of Industrial Policy and Promotion (DIPP), GOI, Sri R.V. Deshpande informed that the State had also received fresh investment proposals worth Rs 6,113.29 crore in the last few months involving some major companies.
Complimenting Sri R.V. Deshpande, Minister for Large & Medium Industries and Infrastructure on this remarkable
“As informed by the Minister, Karnataka now stands first place for second year in succession in attracting capital investment. As per reports, the State was in eleventh position in 2013, fifth position in 2014 and fourth position in 2015 as per figures by the Department of Industrial Policy and Promotion of the Ministry of Commerce in New Delhi. Now the State bagged first position with a proposal of Rs 1.54 lac crore investments in 2016 and has reserved its first position this year also. We hope that this will fuel MSME growth in Peenya and lead to new opportunities for business expansion,” he said.
As the report stated, the single window committee has approved 1,823 industrial projects worth Rs 3.34 lac crores during the last four years. It has created a total of 14.19 lac jobs in small, medium and large scale industries including 1.89 lac in large scale industries.
The Minister further informed that 15 major companies are making fresh investments in Karnataka which includes Oracle India that has proposed to invest Rs 2,438 crore to expand its unit in the IT/ITES Special Economic Zone (Bengaluru), a project expected to generate 9,697 jobs. Wipro Enterprises has proposed to invest nearly Rs 112 crore in the Aerospace SEZ in Devanahalli, and TVS Motors has proposed to invest Rs 1,110 crore to expand its plant at Kadakola in Mysuru that will generate 800 jobs. The Minister said the State has already cleared these major investments.
Other major companies that are investing include Mangalore Refinery and Petrochemicals Ltd (Rs 966 crore), IKEA (Rs 810 crore), SAP Labs India (Rs499 crore), Acebright India Pharma (Rs 492 crore), Desano Pharmaceuticals (Rs 475 crore), Adani Cementation (Rs 410 crore), Molex India (Rs 340 crore), Aditya Birla Solar (Rs 325 crore), HNI Autotech (Rs 242 crore), Prosperity Textile Processors (Rs 196.79 crore), and Ather Energy (Rs 47.50 crore).
New Jobs creation
“Job prospects are facing a danger due to automation and digitalization. More than 60% engineering graduates are becoming jobless. More than 20 lac man-days are getting wasted in a year. Therefore a new policy of giving fillip to manufacturing dolls, mobile phones, tablets, electronic equipments and their assembly is being prepared,” the Minister announced.
Citing further statistics, Sri R.V. Deshpande said the State had created about 15 lakh jobs over the past four years. He said the unemployment rate in the state was 2%, compared to the country average of 3.7%.It is also lower than that in Kerala (10.6 %), Andhra Pradesh (3.5%) and Tami Nadu (2.7 %).
The Minister said talks were on for establishment of the Japanese Industrial Township at Vasanth Narasapura in Tumakuru on 500 acres, and consultation was on with JETRO (Japan External Trade Organisation) to promote Japanese investments in the State.[/vc_column_text][/vc_column][/vc_row]