Global Investors Meet 2010 : Advantage Karnataka

DQI Bureau
New Update

Months after the href="">Karnataka

Semicon Policy was unveiled in Karnataka, a giant leap was once

again taken by the state government by opening up the gateway for

several potential investors, entrepreneurs and global business firms.

The Global Investors Meet (GIM) held at Palace Grounds in Bangalore was

yet another statement by the state government to attract not only

global companies but also attract and leverage on the opportunity to

bring in more skilled workforce.  It was more evident when the

event was attended by Chief Minister of Karnataka, B.S. Yeddyurappa,

Minister for IT & BT, Katta Subramanya Naidu, steel tycoon Lakshmi

Mittal, Azim Premji, Chairman and Founder, Wipro, Kingfisher Chairman, Vijay Mallya and several other

dignitaries.   Result

A total investment of Rs. 4 trillion has been done by signing up of

several MoU between the state government and the companies.

Advantage Karnataka

Themed Advantage Karnataka: One
State, Many Opportunities,
the event saw several potential

investors signing up the Memorandum of Understanding (MoU) with the

government in different verticals such as automotive, healthcare,

biotechnology, Information technology etc.  Especially on day two

of the event, a total of 11 MoUs were signed up by IT companies with

the government.  Says href="">Yeddyurappa,

The State government has brought out improved services and

investor-friendly facilities on industry, infrastructure, tourism,

Information Technology-Biotechnology (IT-BT), textiles and renewable

energy. We have followed a proactive approach for facilitating

investment in the state and facilitating growth of Karnataka as the IT

capital of India.

Commenting on the importance of IT and ITeS parks, Katta Subramanya
Naidu said, I believe that the investors will be able to explore new

opportunities and growth with the proposed IT parks, further allowing

them to gain momentum. The Dataquest IT industry report was also

unveiled by the Minister of IT & BT during the event which

showcased the importance of the IT sector. The report highlighted that

Indian IT sector has moved up the value chain by being on the forefront

of innovative software and application development.

Adds Bobby Mitra,President & Managing Director,Texas Instruments India and Chairman- India Semiconductor Association focused on the importance of semiconductor industries in the state. Says Mitra, Remarkable innovations are
happening in India and especially in Karnataka. The entire ecosystem of

semiconductor is vibrant and companies in this space are leveraging on

the opportunities. The India semicon industry has also identified a

very importance segment Electronics, which could bring in a

revolution especially in electronics system design and product

manufacturing. Adds Rajalakshmi, Director, STPI who provided with her

Vision 2020 for the state., Karnataka and Bangalore in particular have

seen a lot of developments in terms of empowering the women in IT.

She also discussed on the growth in different areas in IT such as

overall industry growth, export market, domestic  growth, HR

growth, clusters and infrastructure, growth in Tier II and III cities,

SEZ growth, electronic hardware growth, and growth for foreign

companies in India.

Says Ashok Kumar Manoli, Principal Secretary to Government, Department
of IT, BT, and S&T, The proposed IT Investment Region (ITIR) and

IT parks across the state will enhance the credibility and leadership

role of Karnataka in attracting and retaining large investment on a

large scale.  He added that IT has not only shaped the Bangalore

city skyline and work paradigm, but has also resulted in a more

cosmopolitan culture.

As per the Dataquest IT report, the state government is also
implementing a new ICT policy combining telecom with IT further giving

a fillip to infrastructure development across the state.  The

report also reveals that the government now plans to bring IT

revolution to Tier II and III cities such as Hubli, Mysore, and Manipal

and Shimoga. The aim of such an initiative is to rope in local

entrepreneurs and to increase employment.

Future Initiatives

The report suggests that going forward, the state would also be
announcing its plans for an animation sector and formulate an

Animation, gaming and special effects policy.  The state

government has also identified future prospects of nanotechnology in

India and has formed a Vision Group comprising industry and academic

experts for href="">nanotechnology.

Moving ahead and leaving behind the old concept, Anytime, anywhere,
the state government now plans to introduce anytime, anywhere, any

devices services  for Karnataka citizens.