Karnataka govt serious about all business proposals signed during GIM: CM Bommai

Bengaluru: Karnataka Chief Minister Basavaraj Bommai on Wednesday said his government weighed all the business proposals while signing the investment proposals in the state.

”The state government has considered seriously all the agreements signed for investments in ‘Invest Karnataka 2022’, Global Investors Meet and all necessary permission and cooperation will be given to make the business proposals to become reality,” Bommai after the inauguration of Global Investors’ Meet titled ‘Invest Karnataka’.

Speaking after inaugurating ‘Invest Karnataka’ ‘Build for the World-2022’ in Bengaluru Palace Grounds here, he said the government would create an industry-friendly atmosphere in the state.

This will play an important role in the economy, he added.

”The aim before the government is to make these investments into reality. The investments which are currently on paper, must become reality. Already, Rs 2.80 lakh worth investment proposals have been approved and all the proposals which were signed in this meet will be approved in next three months. Since the government is serious on the investments, even the investors must be equally serious,” Bommai said.

According to him, Karnataka has been in the forefront in several fields including aerospace, biotechnology and renewable energy.

”The startups and unicorns of the state are in the first place. Of the total 105 unicorns, 35 of them are in Karnataka and similarly, of the total four decacorns in the country, three of them are here,” the Chief Minister explained.

While a unicorn is a startup with a valuation of more than USD 1 billion, a decacorn refers to a privately-owned company that is worth more than USD 10 billion.