Karnataka being one of the largest states of South India is largely popular for its culture, heritage, education, and tourism. As a matter of an unknown fact, the state is also seen as the most attractive one for investments. For the third straight year, Karnataka is lauded as the best state in India when it comes to attracting investments. This is in reference to the statistics published by the Department of Industrial Policy and Promotion.
Potential Investment of Rs. 79,866 Crore
As per the statistics published, till August this year, the state put by a potential investment or Industrial Entrepreneur Memorandum (IEM) of Rs. 79,866 crore. This accounts for 60% more investment than Gujarat with an IEM of Rs. 51,586 crore. This data on investment is collated by the Centre’s Department of Industrial Policy and Promotion.
Minister for Large and Medium Scale Industries, Mr. KJ George said that the Government ensures to be the top destination for investment in India thus generating a large number of jobs in the state.
Speaking to The Hindu, Gaurav Gupta, Principal Secretary, Commerce and Industries has said, “Every 15 days, review of the projects are undertaken to ensure that these investments are translated fruitfully on the ground.”
Karnataka Accounts for 44% of India’s Investment Plans
In 2017, Karnataka accounted for an unbelievable 44.3% of the total investment intentions in the country. Last year’s figures from January to September says that a total of Rs. 1,47,625 crore worth of investment proposals has come into the state. It is followed by Gujarat with an investment of Rs.65,741 crore. A few of the noted investment proposals in 2017 are said to have come from Intel, Cornerstone property, Aditya Birla Group, and others.
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