Bengaluru: Inviting Germany to collaborate with Karnataka in hosting the ‘Global Investors Meet’ that is scheduled to be held on November 2, 3 and 4, Large and Medium Industries Minister Murugesh Nirani on Thursday said that GIM would be a great platform to explore investment opportunities.
The minister was interacting with the delegation led by the Consul General of Germany Achim Burkett here.
Pitching for German investments in the State, Minister Murugesh Nirani said Karnataka is an ideal destination for investments. “Karnataka and Germany share a strong relationship especially in areas of trade and FDI. Our state is home to nearly 200 German companies such as Bosch, Siemens and Carl Zeiss. We both focus on major industries like auto and auto components, engineering and machine tools, chemicals, innovation and R&D etc.,” Nirani said.
Briefing on the business ecosystem in the state, Nirani said the government has taken several measures to enhance investor-friendly atmosphere. “Karnataka attracted 3rd highest FDI in India in 2020-21 at $7.6 Bn with 14% national share. It is home to numerous auto OEMs, auto component, machine tools manufacturers, EV startups and R&D centres. Bengaluru is the world’s 4th largest technology & innovation cluster,” minister added.
Pointing out the state’s efforts in overcoming economic challenges posed by the pandemic, Nirani said the government offered many concessions to industries. “Karnataka attracted Rs 1 lakh crore worth investments since the beginning of pandemic in March 2020. The New Industrial Policy 2020-25 offers attractive subsidies and financial incentives,” Nirani maintained.
Deputy Consul General Friedrich Birgelen was also present during the meeting.
