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Long exalted as a beacon of art and culture, Karnataka is one of the most progressive and industrialised states in the country today. The state boasts an illustrious history of successfully introducing several industrial and technological initiatives. Today, Karnataka is a key driver of economic growth and wealth creation through a potent mix of resource, skill, and technology based products and services.
While it houses just 5 percent of the country's population, the state contributes 6 percent to India's GDP, 7 percent to its Fixed Capital and 13 percent to its total exports. This phenomenal growth has been backed by a proactive state government, investor friendly policies, excellent human resources, solid infrastructure and a very congenial industrial climate. All these combine to make Karnataka a prime destination for profitable trade and investment.
What sweetens the deal for investors is the Karnataka Udyog Mitra (KUM). A Government of Karnataka agency, KUM is the single point contact for investors and helps them from the concept stage to the eventual implementation of the project.
• Facilitates necessary clearances/approvals from the concerned government department/agency
• Facilitates arrangement of infrastructure such as land, water and power
• Offers Single Window Clearance
Keeping with its commitment to investors in the state, the Government of Karnataka, with KUM as the nodal agency, also organises the Global Investors Meet (GIM), a biennial investment summit, in Bangalore, India. An integrated global business arena, the Meet provides a single platform for industry partners to address core business needs including a showcase of technology and service capabilities, facilitated partner and buyer-seller meets, vendor identification and development, platform for networking and exploring business expansion, and investment and funding opportunities. It sees engagement between respected industry leaders, with over 10,000 delegates from 39 countries attending the event this year.
Investor faith can be seen in the success of GIM 2012 that attracted 750+ investment commitments worth over INR 7.2 lakh crores with employment potential for 18.4 lakh people.
• This includes investment commitment from the state's MSMEs sector amounting to approximately INR 42,000 crores in various districts and creating employment opportunities for over 3.49 lakh people.
—Courtesy OIFC
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