Karnataka invited investors to Bengaluru instead of signing blank MoUs at Davos
Chief Minister DK Shivakumar stated the state focused on detailed discussions with investors during the World Economic Forum visit.
Karnataka Chief Minister DK Shivakumar said the state invited investors to Bengaluru for discussions during the World Economic Forum in Davos, rather than signing memorandums of understanding (MoUs) without detailed talks, according to Moneycontrol.
Shivakumar noted that during his and Industries Minister MB Patil's visit to Davos, they did not sign agreements on blank sheets of paper like Andhra Pradesh Chief Minister Chandrababu Naidu. He said several investors approached him at Davos, with some also considering other states.
The Chief Minister said Bengaluru stands out due to its educational quality, business environment, climate, and local talent. He added that the city houses approximately two lakh foreign passport holders and 45 lakh people from other states.
To assist with investment, the government has created a Department of Global Investors and NRIs. Ministers can approve investment proposals up to Rs 500 crore, while the Chief Minister handles larger proposals.
Speaking at the 'Nanna Shaale, Nanna Javabdari' programme, Shivakumar urged private companies to partner with the government to improve rural schools. He mentioned that 15 MoUs worth Rs 206 crore were signed for 56 schools, while another 12 MoUs worth Rs 64 crore for 23 schools are in final stages.
Shivakumar also reiterated the goal for Karnataka to become a $1 trillion economy by 2032. He announced that Mindtree co-founder Subroto Bagchi will chair the state's Skill Development Vision Group.