Karnataka is repositioning its growth strategy and messaging to global investors, according to Dr. Murugesh Nirani, Karnataka’s Industries Minister.
The government is consciously trying to decongest the capital city and create infrastructure in other key locations of the state, Dr. Nirani told BQ Prime in an exclusive interview. Beyond Bengaluru and Make for the World are the two-pronged approach the state government is adopting, he said.
In the recent Global Investment Summit hosted by the state government, the state “attracted investment commitments worth Rs 9.8 lakh crore’’, the Minister said.
But can promises be converted into actual investments?
“We are confident about a 70% conversion,’’ Dr. Nirani said.
“Out of the Rs 9.8 lakh crore commitment, 85% to 90% is outside Bengaluru,” the minister said. The state government has decided not to give concessions to investors setting up projects [just] outside Bengaluru.
“The focus is on Tier-2 and Tier-3 cities as well as Kalyan Karnataka, bordering Hyderabad. We will give concessions for projects here,’’ he said.
Connectivity and mobility are being given importance by the state, the minister said. In addition to the existing airports, three more airports are coming up viz. Vijayapura in north Karnataka, Hassan and Shivamogga.
In addition, “we have proposed five more airports in Davanagere, Chikkamagaluru, Raichur, Bagalkot, and Kopalla”, Dr. Nirani said. “We will have 16 airports in all, and once completed, we will have one airport for every 100 kilometers.’’
Among the big proposals, JSW will be investing Rs 1 lakh crore over the next five years. Almost Rs 42,000 crore will go towards a green hydrogen project for captive use. The Adanis have also proposed investing Rs 1 lakh crore on projects with focus on green energy, besides data centres and service sector, the minister said.