- Thursday, April 18, 2024
By: Shubham Ghosh
THE South Indian state of Karnataka has attracted a maximum share of Rs 62,085 crore in foreign direct investments (FDIs) in the April-June fiscal, the state’s large and medium industries minister Murugesh Nirani on Wednesday (8) said.
Addressing reporters at the state secretariat in Bangalore, the capital of Karnataka, Nirani said the state remained the top recipient of FDI inflows in India in the first quarter of the current fiscal.
“Karnataka attracted Rs 62,085 crore (£6 billion) investments in the April-June fiscal and became a top recipient with 48 per cent share of total FDIs in India. Our state had attracted Rs 30,746 crore (£3 billion) FDI in 2019-20 and stood at the third spot and in 2020-21 we maintained the third spot by attracting Rs 56,884 crore (£5.6 billion),” he said in a statement.
The minister praised Karnataka Udyoga Mitra (single window agency for investments) for emerging as the country’s top Investment Promotion Agency (IPA) and said its IPA ranking was a matter of pride for the state.
“I applaud Karnataka Udyoga Mitra for being ranked as India’s top Investment Promotion Agency and it’s a matter of pride for us. The National Investment Promotion and Facilitation Agency ‘Invest India’ has rated Karnataka Udyoga Mitra as a top IPA agency in the country by giving rankings while considering the performance of 20 states. Karnataka Udyoga Mitra has scored centum in 4 out of 8 categories regarding investment promotion,” the minister said.
He said the Udyoga Mitra’s role was crucial in ensuring an investor-friendly atmosphere.
“Udyoga Mitra scored full points in winning investment projects, facilitating investment projects, aftercare and managing website. Its role in providing clear information to investors like opportunities, procedures and necessary facilities was very crucial. We have removed hurdles for investors by easing many policies and provided necessary assistance to start industries,” the minister said.
Speaking on the state government’s reforms to help industrialists, Nirani said the Bharatiya Janata Party government is trying to score 100 points in all parameters in the near future.
“We have implemented several reforms to ensure ease of doing business such as affidavit-based clearance, central inspection system, and land and labour laws. Invest India has lauded Udyoga Mitra’s foresightedness and its proactive steps in this competitive platform,” he said.
