Government of Karnataka

Department of Information

Sunday 03/04/2016

Chief Minister’s speech at the Invest Karnataka-2016

Date : Wednesday, January 6th, 2016

Chief Minister of Karnataka Shri Siddaramaiah speech at the Invest Karnataka-2016 an interaction with Chief Executive Officer’s and Managing Director’s of top industries at Taj West End Hotel in Bengaluru on January 6

Mr R. V. Deshpande
Hon’ble Minister for Tourism,
Large and Medium Scale Industries,

Mr Satish Lakshman Rao Jarkiholi,
Hon’ble Minister for Small Scale Industries,

Mr S. R. Patil
Minister for Planning and Statistics,
Information Technology and Bio-Technology,
Science and Technology,

Mr Arvind Jadhav
Chief Secretary to Government,

Mrs K Ratna Prabha
Additional Chief Secretary to Government,
Department of Industries and Commerce,

Mr Gaurav Gupta,
Commissioner for Industrial Development and Director of Industries and Commerce,
Industry Captains, Members from Trade Associations

Media friends,
Ladies and Gentlemen,

1. I would like to begin by wishing you and your families a very happy and prosperous new year !

2. It gives me a great pleasure in welcoming you for this special dinner as a precursor to Invest Karnataka 2016.

3. Friends, from the time we have assumed office, our focus has been on matching the aspiration of the people in our State whether he is a common man seeking employment, a farmer trying to get a better yield for his crops, a Small and Medium Entrepreneur aspiring to become a large company or a professional from a top Multinational Company seeking diversity and growth for his company.

4. Our Government’s vision is to achieve Inclusive, equitable and sustainable growth.

5. And Invest Karnataka-2016 is another step in that direction. This event has the power to impact a large number of people in our State.

6. Today, Karnataka’s State Gross Domestic Product is about 120 Billion US $ at current prices and is growing at more than seven percent.

7. This growth rate is perhaps the highest growth rate anywhere in the World today. But, it is not enough !

8. Our Industrial Policy for 2014-19 aims for an annual growth rate of 12 percent and to attract investments of Rs 5 Lakh Crore, providing employment to 15 Lakh persons in the next 5 year period. This is the growth rate we aspire for. This is the growth rate, which will help us achieve our vision within a reasonable time-frame.

9. During the last two years, we have approved more than 450 projects bringing in investments of around Rs 1.21 Lakh Crore and generating 2.44 Lakh employment opportunities, but much more needs to be done.

10. Our Government is initiating a host of reforms and initiatives to speed up industry-led growth in the State.

11. One of the important initiatives “Ease of Doing business” is being personally looked into by my esteemed colleague Mr R. V. Deshpande.

12. Earlier this week, Hon’ble Prime Minister laid the foundation stone for Hindustan Aeronautics Limited’s Helicopter Manufacturing facility at Bidarehalli Kaval in Gubbi Taluk in Tumakuru District, for which our Government has allotted 610 acres of land.

13. This Project will alone bring in about Rs 5000 Crore of investments. The facility will produce 600 Light Utility Helicopters in the first 15 years, create 4000 jobs in Phase-1 and more than 3000 jobs in Phase-2.
14. Friends, “Make in India” is happening and is happening in Karnataka !

15. I would like to take this opportunity to mention some of the investments made in our State in the recent past. Shell, Tata Power SED, Bosch, Scania many others have made investments and capacity expansions. All of them will “Make in Karnataka” – for India and for the World.

16. Honda has set up the World’s largest Two-wheeler Manufacturing Plant at Narsapura, Asian Paints is putting up World’s largest Paint Plant in Mysuru, GSK is starting a Manufacturing Unit, a first in the last decade to GSK, TOYOTA has decided to Make in Karnataka, Himmatsingka is expanding its operations in Hassan.

17. Airbus is already sourcing components and subsystems worth 500 million US$ from India for its A-330, A-350 and A-380 aircrafts.

18. Karnataka based companies provide more that 90 percent of this amount. You will be happy to note that Airbus is likely to increase this spend by four times over the next four years.

19. On the power situation, I have already given you the assurance that the power shortage you are seeing today is a temporary phase. We are working towards energy security for the State and planning to add 22 Giga Watts of all forms of power by 2022. This includes 14.5 Giga Watts of non-renewable and 7.5 GW of renewable energy capacity.

20. Friends, a job means everything for our work force. It helps to fulfill the aspirations of our young population. It improves standard of living by lifting people out of poverty and helps them progress economically. All this leads to a more inclusive, equitable and sustainable growth. Our focus is on creating job opportunities in rural areas.

21. As Chief Minister of the State, it is my dream to empower each and every person to get the opportunity to become what he or she aspires to - be it a doctor or a technical person or an entrepreneur.

22. Our focus at all times is to ensure economic growth so as to improve the lives of each and every person in the State. Through Invest Karnataka-2016 we want to convey and reiterate the same message.

23. I am very happy to note that so many of you have accepted our invitation to attend this evening’s interaction. our presence gives us immense hope and confidence as we head into the new year.

24. You represent some of the best companies globally, and working towards building successful businesses in Karnataka. You are the Brand Ambassadors of Karnataka.

25. Karnataka is proud of your achievements and we want you to continue to be here and make all expansions in Karnataka. At the same time, we hope that you will promote Karnataka in all your interactions with the larger investor community.

26. I wish to give you my personal assurance that our Government will do whatever it takes to help you succeed and prosper.

27. I have always personally been a big supporter of the industry and will continue to do so.

28. I firmly believe it is the growth of all sectors in the economy, and specially industry, which will help us achieve our aspirations and our goals.

29. I once again thank you for attending this event today.

30. I extend my best wishes to you and personally invite all of you to come and participate in Invest Karnataka 2016.

Thank you one and all !