Sajjan Jindal, Shaw among 19-member group to advise Karnataka on investments

BENGALURU: Karnataka has formed a group of industrialists to advise Large and Medium Industries Minister R.V.Deshpande on how the state could step up industrial investments. The small group of captains are also expected to play a role as Karnataka's ambassadors to outside investors.

The Minister's action comes ahead of the global investors' meet, Invest Karnataka, scheduled for February. This step, the government believes, will strengthen the state's single window agency, Karnataka Udyog Mitra.

The 19-member committee, headed by the Industries Minister, also consists of Biocon founder Kiran Mazumdar-Shaw, TVS Chairman Venu Srinivasan, JSW group founder Sajjan Jindal, Manipal Global Education Services Chairman T.V.Mohandas Pai.

Last week, the Minister held a joint meeting with the working group of industry captains and officials at Udyog Mitra to share their suggestions on attracting investors and improving infrastructure.

To further enhance speedy clearance of investment projects and handhold companies from different countries, the Udyog Mitra has also set up country-specific pavilions, which is a single point of contact for investment in the State, according to Industries department officials.

The government has been pursuing the idea of strengthening the Udyog Mitra to speed up clearances. The single window agency has often come under attack from investors, who have said they still have to approach other smaller windows to get several approvals even after the high level committee headed by the Chief Minister clearing their investments.