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Sunday, January 29 2023

K’taka to be the only state to have 3 major industrial corridors: Minister

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Bengaluru: Pitching Karnataka as the best place for global investors, Large and Medium Industries Minister Murugesh Nirani said on Thursday September 23 that Karnataka will be the only state in India to have three major industrial corridors.

The minister was speaking at a programme organised by the KIADB as part of the ‘Azadi Ka Amrit Mahotsav’ (platinum jubilee celebrations of Independence) at a private hotel here.

Highlighting the thriving business ecosystem in the state, Nirani said Karnataka offers excellent investment opportunities.

“Karnataka will be the only state in India to have three major industrial corridors connecting Bengaluru with three metropolises of India. The three industrial corridors — Chennai-Bangalore Industrial Corridor (CBIC), Bangalore-Mumbai Economic Corridor (BMEC) and Hyderabad-Bangalore Industrial Corridor (HBIC) are being developed by the National Industrial Corridor Development Corporation Ltd (NICDC). the implementation of CBIC is gaining momentum. Our government will take necessary measures to make sure that the CBIC becomes a great success story for Karnataka and the nation,” Nirani said.

Explaining the state’s dominant position in the industrial sector, Nirani said successive governments strived to make Karnataka the No. 1 investor-friendly state in India.

“Karnataka has become a preferred destination for leading businesses as it provides a cost-competitive manufacturing environment. With 7.09 per cent GSDP during the last decade, Karnataka is emerging as the fourth largest economy in India and its per capita income is the highest among all the other states. We are in the fourth position in terms of skilled workforce and now we have reached the pinnacle of attaining No. 1 position in terms of attracting FDIs in India for Q1 FY 2021-22,” stated the minister.

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