Karnataka government forms working group to advise on key investments

BENGALURU: Ahead of the global investor meet, Karnataka government has formed a working group that includes industry captains like Kiran Mazumdar-Shaw and Sajjan Jindal as members to advise it on key investment and speedy clearance.

To improve the overall industrial climate in the state, R V Deshpande, Minister for Large and Medium Scale Industries has introduced a new concept to strengthen the Karnataka Udyog Mitra, the state government said in a release.

It said a working group of industry captains was instated to advice the state and become ambassadors to attract investments into Karnataka.

Karnataka Udyog Mitra, a government of Karnataka undertaking, is a "single point of contact" for project proposal with investments more than Rs 15 crore.

Elaborating on the importance of creating a conducive environment for investments in the State, Deshpande said "more investments will bring prosperity to the state, jobs for the youth, revenue to the state to solve issues burdening Karnataka and Bengaluru."

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.

The working group under the Chairmanship of Deshpande also includes Venu Srinivasan of TVS, T V Mohandas Pai, Kishore Biyani of Future Group, G V Sanjay Reddy of GVK Group among others as its members who represent the industry.

Official representatives of the working group consist of Chief Secretary, Additional Chief Secretaries and Principal Secretaries of various departments.