The State is the most suitable for investments; it has been racing towards development and the Centre has been providing all necessary support to boost further economic development in the State, as per Union Minister for Parliamentary Affairs and Coal Pralhad Joshi.
Speaking at a road show to promote Invest Karnataka Hubballi 2020 in Mumbai, he said that it was the utmost priority of the Union government to make the State the No 1 investment destination in the country.
“The Union government and State governments have been providing ample opportunities for industrial growth in tier-two cities. There is a conducive atmosphere for industries to grow in North Karnataka and this will help create newer employment opportunities in the region,” Mr. Joshi said.
Growing at 9.6 % annually, the State’s GDP is at $ 216 billion. The State government has been providing necessary facilities to establish industries for aerospace and defence equipment manufacturing, automobile, electrical vehicles, consumer goods, innovation and start-ups, information technology, among others, in various parts of the State, especially in North Karnataka, the Minister added.
Speaking at the road show, Large and Medium Industries Minister Jagadish Shettar said that the State has been the most preferred as it contributed significantly to the country's economic growth. The State, in fact, was the third largest foreign direct investment destination in the country.
Mr. Shettar said that Hubballi was the most important industrial hub in North Karnataka and it also offered good logistics and road connectivity thanks to the Golden Quadrilateral National Highway 4.
“We are now in the process of developing nine industrial areas and four industrial estates in the Hubballi-Dharwad region. Along with this, road and railway networks have been improved to ensure direct and quick connectivity to the country's commercial capital Mumbai,” he added.
Over 100 entrepreneurs participated in the road show.
