Investors Meet at Shanghai on 7.9.2009 – Speech of the Hon’ble Chief Minister

Ladies and Gentlemen,

1.    I am very happy to be here today and to interact with all of you.

2.    Karnataka is one of the most industrialized states of India.

3.    It has also been a preferred destination for investments from abroad in the last few years.

4.    The World Bank has rated Bangalore, the Capital of Karnataka, second in terms of ease of doing business in India.

5.    Bangalore is particularly amongst the leaders in IT sector, BT sector, Nano technology or any knowledge related area at the global level.

6.    We have announced a new Industrial Policy, Mineral Policy, and Textile Policy. The 12 year old IT policy is being re drafted to suit the changing times. It will be announced soon.

7.    Karnataka has so much to offer every investor. For example,
•    Investor-friendly Government,
•    Good climate and rich culture,
•    Good connectivity,
•    Excellent telecommunication network,
•    Good law and order,
•    Good Industrial relations,
•    Presence of more than 100 world-renowned R & D organizations, both Indian and abroad.

8.    The blueprint for realizing the full potential of the state for development has been brought out in the form of a vision document, ‘Karnataka 2020’. This document is on our State website.

9.    This blue print unfolds the strategy, for achieving the total eradication of poverty, regional balance in the development of the state, sustained industrial development, upgrading the facilities for an orderly and comfortable life for the people in both rural and urban areas, promoting social and economic equality in the state.

10.    The quality of human resources in the state has the potential to put the state in the forefront of the other regions in the country.

11.    The State has immense potential for core sector industries like Steel and Cement, since it has ample availability of mineral resources.

12.    To harness this potential to the full extent, the State will develop separate industrial zones for steel and cement.

13.    In addition, exclusive zones for food processing, IT and BT, automobile parts, sugar, power, renewable energy and readymade garments will also be developed.

14.    I have come to Shanghai to invite you all to come to Karnataka and join the development of Karnataka.

15.    I would personally like to invite you to take part in the Global Investors Meet that will be held in Bangalore on the 11th and 12th January 2010.

16.    Special Economic Zones are important drivers of economic development. We have seen successful examples of it in China. Government of Karnataka too encourages the establishment of Special Economic Zones.
17.    We have brought out an SEZ policy and would like to get the benefit of your expertise in Setting up of SEZs.

18.    The Government is serious about attracting industrial investments to tier II & III cities in order to achieve balanced regional development and to decongest Bangalore.

19.    Infrastructure Development such as power, roads, and water are being given utmost priority by my Government.

20.    We believe in building strong public – private partnerships in infrastructure, construction to realize the objectives of high growth and regional equity.

21.    We hope to soon have air connectivity to all districts in the State.

22.    Development of sea ports on the Western coast of the state is also being accorded priority.

23.    Sea ports such as Malpe, Karwar, Honnavar, New Mangalore Port are proposed to be developed on a public private partnership basis.

24.    Electricity is the life line of development and we are aiming to create an additional generating capacity of 5,000 MW in the next four years.

25.    Private Sector participation will be encouraged in augmenting power generation.

26.    We are encouraging environment friendly non-conventional, renewable sources of energy to improve the power situation.

27.    Our ultimate ambition is to provide 24 hours quality power in every nook and corner of Karnataka.

28.    The State enjoys salubrious climate and very peaceful atmosphere. In fact, no individual man day has been lost since last three years.

29.    The State Government has taken all steps to sensitize administration and make it more responsive and investor friendly and to help potential investors like you to set up your establishment in Karnataka.

30.    I once again extend a very warm welcome to all of you to visit Karnataka and explore the possibilities of investing in the state. The Global Investors Meet in January 2010 would be a good time to visit us.

THANK YOU