Invitation to Invest in Karnataka

NEWYORK (TIP): A high level delegation led by Sri R.V. Deshpande, Minister for Large & Medium Industries and Tourism, Government of Karnataka, was warmly welcomed by Consul General Ambassador Dnyaneshwar. M. Mulay at the India House in New York, December 4.

In the Interaction with members of USIBC, TiE and AKKA, Mr. Deshpande strongly pitched for inward investments into Karnataka highlighting several steps that are being taken by Government of India to ease business, physical and digital infrastructure and taxation. He specifically spoke of the steps initiated by Government of Karnataka to decongest Bengaluru and disperse industry to tier 2 and tier 3 cities.

Invest in KarnatakaAddressing a gathering of industry captains, Minister Deshpande said that it is a great honor to release a report on India, on foreign soil.

Mr. Deshpande released EY’s India Attractiveness Survey 2015 report which observes that international corporations with a presence in India are far more optimistic about the country’s prospects than those who are not yet established in the country.

A whopping 32% of the respondents said that India is the most attractive place for investments in the next 3 years. India has already emerged as the No. 1 FDI destination globally with capital inflows of US$ 30.8 Billion in 2014. 62% of those interested to expand or enter India over the next year, say that they plan manufacturing activities in the country. The Government’s flagship programs Make in India and Digital India have had a positive impact on investor sentiment. Make in India has gained considerable momentum and industry is a lot more optimistic about its success now than about a year ago.

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