BENGALURU: Chief Minister Siddaramaiah announced on Wednesday that Karnataka is targeting an industrial growth rate of 15-16% annually. He highlighted the state’s proactive approach to policymaking and its industrial policy, which offers best-in-class incentives to attract global investors.
– Global Investment Destination: Karnataka has positioned itself as a premier destination for global investments, being the second-highest recipient of FDI inflows in India, with 22% of the nation’s total FDI over the last five years.
– Growth Targets: The CM stated that the state has experienced a 9.3% growth rate in industries over the past decade and aims to achieve a $1-trillion GDP by 2032.
– Global Investors Meet 2025: Scheduled for February 12-14 at Bangalore Palace, this event will see over 5,000 senior delegates and 100+ speakers. The theme, ‘Reimagining Growth,’ will include 30+ technical and cultural sessions on topics such as AI, Industry 5.0, Web 3.0 & Blockchain, Smart Computing, and Cybersecurity.
– SME Connect ’25: Launched by Large and Medium Industries Minister MB Patil, this platform aims to expand business opportunities for SMEs. Gunjan Krishna, Commissioner for Industrial Development, emphasized the importance of SMEs, which provide 41% of employment.
– VentuRISE – Global Startup Challenge: This second edition aims to recognize and support startups in sectors like Electronic System Design and Manufacturing (ESDM), Clean Mobility, and Aerospace & Defence.
– Global R&D Contribution: IT-BT Minister Priyank Kharge noted that Karnataka contributes 22% to global R&D and leads in exports, FDI, and technology services.
– Educational and Innovation Hub: With over 250 colleges, 44 universities, and 25,000 startups, Karnataka is a capital of R&D and innovation. The state’s commitment to industry-friendly policies and continuous investment in science, technology, and education drives sustainable growth and better standards of living.
– Collaboration and Innovation: Ramesh Ramadurai, Past Chairman of CII Karnataka & MD of 3M India, emphasized the importance of augmenting resources, understanding customer needs, and developing valuable solutions. Building infrastructure and fostering partnerships are key to transitioning to groundbreaking new products.
Chief Minister Siddaramaiah’s announcements and the initiatives discussed at the Global Investors Meet 2025 highlight Karnataka’s ambitious plans for significant industrial growth and its strategy to attract global investments and foster innovation.