Business Economy

Karnataka attracted maximum share of FDIs in April-June fiscal in India: Minister Nirani

Bangalore (Karnataka) [India], September 8 : Karnataka has attracted a maximum share of Rs 62,085 crore Foreign Direct Investments in the April-June fiscal in the country, announced Large and Medium Industries Minister Murugesh Nirani on Wednesday.
Addressing reporter at Vidhana Soudha here, Nirani said the State is the top recipient of FDI inflows in India in the first quarter of the current fiscal. “Karnataka attracted Rs 62,085 crore investments in the April-June fiscal and became a top recipient with 48 per cent share of total FDIs in India. Our state had attracted Rs 30,746 crore FDI in 2019-20 and stood at the third spot and in 2020-21 we maintained the third spot by attracting Rs 56,884 crore,” Nirani said in a statement.
Lauding the Karnataka Udyoga Mitra (Single window agency for investments) for emerging as the country’s top Investment Promotion Agency (IPA), Nirani said Udyoga Mitra’s IPA ranking was a matter of pride for the state.
“I applaud Karnataka Udyoga Mitra for being ranked as India’s top Investment Promotion Agency and it’s a matter of pride for us. The National Investment Promotion and Facilitation Agency ‘Invest India’ has rated Karnataka Udyoga Mitra as a top IPA agency in the country by giving rankings while considering the performance of 20 states. Karnataka Udyoga Mitra has scored centum in 4 out of 8 categories regarding investment promotion,” Nirani praised.
Elaborating further on Udyoga Mitra’s role, the minister said the agency’s role was crucial in ensuring an investor-friendly atmosphere. “Udyoga Mitra scored full points in winning investment projects, facilitating investment projects, aftercare and managing website. Its role in providing clear information to investors like opportunities, procedures and necessary facilities was very crucial. We have removed hurdles for investors by easing many policies and provided necessary assistance to start industries,” Nirani added.
Briefing on the government’s reforms to help industrialists, the minister said the government is aiming to score 100 points in all the parameters in the coming days. “We have implemented several reforms to ensure ease of doing business such as affidavit-based clearance, central inspection system, and land and labour laws. Invest India has lauded Udyoga Mitra’s foresightedness and its proactive steps in this competitive platform,” Nirani expressed in the statement.
The minister said he was planning to issue notices to the beneficiaries who had been allotted KIADB land but utilised for it was allotted.
“In next 15-days we plan to issue notices and seek an explanation from the allottees on why the land not utilised for the purpose. There has been many complaints against some individuals and companies that land has been kept vacant,” he said.

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