Karnataka Chief Minister
Siddaramaiah has said
the state needs to move
forward with greater determination
in industrial development without
resting on the success of the past.
“The state was an epicentre
for broad-based industrial
development in the country with
many notable heavy manufacturing
industry companies being set up
here. This initial development
created an infrastructure allowing
supply chains to grow allowing
the State to be a hub for industrial
activity,” Siddaramaiah said.
He said initial investment proved
to be highly fruitful and has allowed
Karnataka to retain its competitive
edge in today’s global economy.
“We have built on the platform
and have provided the State with a
conducive environment for robust
industrial growth. But, we cannot
rest on the success of the past, must
move forward with even greater
determination,” he said.
Stating that Karnataka has
been in the forefront of industrial
development and catalysing
innovation in the country’s growth
story, the chief Minister also said
its efforts to promote innovation
has helped in the establishment of
a number of start-ups in the State.
“Today, Karnataka is in the fore-front
of attracting start-ups,” he added.
Pointing that the new industrial
policy for 2014-19 envisions
building a prosperous Karnataka
through inclusive, sustainable and
balanced industrial development
thereby creating large employment
opportunities, Siddaramaiah said,
“It aims to attract investment
in excess of Rs 5 lakh crore while
providing employment to more than
15 lakh persons primarily in the
manufacturing sector.”
Sustainable development is
integral to the spirit of this
policy and special focus is on
manufacturing sector, creation of
employment opportunities and
promotion of Micro, Small and
Medium Entrepreneurs which have
a strong base in Karnataka, he
added.
