CM’s successful Davos visit underlines Karnataka is preferred destination for investors globally: FKCCI

FKCCI hailed the success of Karnataka chief minister, Basavaraj Bommai’s team at World Economic Forum (WEF) held at Switzerland, stating that the committed nearly Rs 65,000 crore investments would play a significant role in realizing the chief minister’s goal of making Karnataka a $1.5 trillion economy.

“The investment proposals from about 25 companies go beyond the broad math,” said CA I.S. Prasad, president, FKCCI. “They are coming into many diverse sectors such as renewable energy, health R&D, retail, pharma, FMCG, telecom, IT, EV infrastructure, and modern manufacturing. Also, these investments are going to be made across districts and not just the state capital, thanks to the Beyond Bengaluru initiative of the government at Davos. Accordingly, districts such as Nanjangud, Hubballi-Dharwad, Mysuru, Tumakuru, Vijayapura and Kalaburagi where the prospective investors are setting up their plants, will see a visible jump in employment.”

The response from the global investor community to the CM’s team reiterated Karnataka’s pre-eminent status as the preferred destination for investments, even at a time of a lot of global churn in the context of the pandemic, FKCCI observed. “Nationally speaking too, India was certainly the toast of the participants, as can be seen from an estimate that it is likely to create more than 50 million net new jobs and over $15 trillion generated in economic value by 2030,” FKCCI pointed out, summing up the highlights of India’s participation at the WEF.

The positive response at Davos is sure to rub off on the forthcoming Global Investors’ Meet and the Bengaluru Tech Summit to be held in Bengaluru in November, FKCCI added. 

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