BENGALURU: The political turmoil in the state in early 2019 seems to have taken a toll on investor sentiment, as Karnataka’s ranking in the latest ‘Ease of doing business survey-2019’ dropped from 8th to 17th position.
The outcome of the survey, based on the user feedback, is seen as a setback for the state that is making all-out efforts to woo domestic and foreign investors by implementing several reforms. In the last few months, the Karnataka Government has fast-tracked its efforts to attract investors with measures like amendments to the Land Reforms Act and Karnataka Industrial (Facilitation) Act.
Despite the spiralling Covid-19 situation, Chief Minister BS Yediyurappa, Industries Minister Jagadish Shettar and senior officers from the Industries Department have been holding a number of virtual conferences with investors from across the world to explain about the investment opportunities in the state. The CM had also attended the World Economic Forum meeting in Davos early this year and recently held a virtual conference with investors from the United States of America.
Responding to findings of the survey, Industries Minister Jagadish Shettar said it was done between April 2019 and April 2020 and most of the reform initiatives by the government were taken in the last five to six months. “There has been very good response to the reforms that we have undertaken. In last few months, we have received investment proposals worth Rs 31,000 crore,” he told The New Indian Express.
Shettar said they will look into the survey report and take necessary measures to ensure that Karnataka finds itself among the top five states in the next year’s survey. The JDS-Congress government was in the power in the state in the first-half of 2019 and the BJP government was formed in July that year. However, it took some time for the new government to settle down and initiate reforms measures.
Invest in Karnataka: CM to NRKs
Chief Minister B S Yediyurappa on Saturday appealed to Kannadigas residing outside India to set up software companies and industries in the state, while promising all support from the government. Speaking after inaugurating the AKKA World Kannada Sammelana in the US, which started on Saturday, Yediyurappa said Kannadigas are known for their generosity.
During Covid and floods, Kannadigas residing across the globe helped by providing ration kits and PPE kits, he pointed out. Yediyurappa appealed to them to develop the schools and colleges they had studied in or those in their hometowns. “If you are ready to set up companies in Karnataka , we will provide all support”, he said.