According to Prime Minister Narendra Modi, Karnataka has rolled out the red carpet for global investors rather than trapping them in red tape.
Prime Minister Narendra Modi stated that his government has encouraged private investment in sectors previously closed to it, such as defence, drones, space, and geospatial mapping.
The Karnataka government has rolled out the red carpet for global investors rather than trapping them in a web of red tape, Prime Minister Narendra Modi told delegates at the Global Investors' Meet via video-conferencing on November 2 while inaugurating the three-day investment expo hosted in Bengaluru.
Mr. Modi stated that his government has encouraged investment in previously closed sectors such as defence, drones, space, and geospatial mapping.
"We've freed our investors from red tape and rolled out the red carpet of opportunities for them." "Rather than enacting new, complicated laws, we rationalised them," the Prime Minister said in front of a large crowd of lawmakers, industry leaders, technocrats, and entrepreneurs.
"When the rest of the world is talking about the global crisis, global economy observers see India as a bright spot." "We are constantly working on the fundamentals so that the Indian economy grows stronger by the day," he added.
The event is attended by over 5,000 delegates. The partner countries — France, Germany, the Netherlands, South Korea, Japan, and Australia — host country-specific sessions. What delegates at GIM 2022 had to say about the investment climate in Karnataka In his address to the delegates, Sajjan Jindal, Managing Director of JSW Steel and Chairman and Managing Director of the JSW Group of Companies, stated that he and his family had a wonderful experience in Karnataka, which is one of the most investment-friendly states in India.
He stated that the JSW Group has already invested 1 lakh crore in Karnataka and that a similar amount will be invested over the next five years.
"Adani Group companies would invest 1 lakh crore in Karnataka over the next seven years," said Karan Adani, Chief Executive Officer of Adani Ports & Special Economic Zone Ltd.
"Karnataka has been extremely successful in developing the IT Industry for the country," said Rishad Premji, Chairman of Wipro, "and the country's IT exports have exceeded the value of its oil imports."
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