Perception of investment slow down in Cong-JD(S) regime false: George

Bengaluru: Investors are bullish on Karnataka and multinational companies are putting in money in various sectors, the state’s Industries Minister K J George said Thursday as he rubbished perception that investments have slowed down since the Congress-JD(S) coalition came to power in May.

Emphasising that propaganda of slow down in investments into the state are being done for “vested reasons”, George said that Karnataka continues to be a top destination in terms of attracting investments.

“There is no such perception. It is false. Some people are indulging in such kind of propaganda against Karnataka because of vested reasons,” George told PTI in an exclusive interview here.

George, who also holds the IT portfolio, was responding to a query about a perception that investments into the state are on the decline due to an allegedly shaky coalition government in the state.

Several global companies have shown interest to invest in various parts of Karnataka and the government is working with them closely to facilitate them with all clearances, he said.

The minister said that the projects announced by Taiwan’s Wistron, American aircraft maker Boeing and Asian Paints are on track.

The projects announced before the state assembly polls are not “stalled” but are in fact being expedited to ensure that more employment opportunities are generated in the state, he noted.

“We cannot stop the projects announced during the last government. Our aim is to ensure that all projects are implemented and generate more jobs. We are doing it sincerely,” he said.

Observing that investors are bullish about the state, George said multinational financial companies like Goldman Sachs have started investing in infrastructure in the state.

“In six months, Goldman Sachs will start operating from its own building. This shows the company is looking for long term investment in the state,” he said.

Noting that many other multinational companies are also investing, the minister said, “Why they are investing if they are not positive about the investment climate and ease of doing business in Karnataka”.

IT and Industry Secretary Gaurav Gupta said Boeing is setting up in Karnataka its largest centre outside the US.

“It has technically announced investment two months before the elections. Today, we are working to see they have got the environment clearances, consent for the establishment and other clearances,” he said.

He also said that Prime Minister Narendra Modi is likely to lay the foundation stone of this project in December-January.

Pharma firm Glaxo SmithKline has invested Rs 1,000 crore in Kolar district to set up a facility in the state.