Bengaluru: Hon’ble Prime Minister of the Kingdom of the Netherlands, Ambassador of the Kingdom of the Netherlands in India, Consul General of the Kingdom of the Netherlands in South India, Mr. M.B. Patil, Minister for Industries, Mr. Priyank Kharge, Minister for RDPR, Smt. Vanditha Sharma, Chief Secretary, distinguished members of the Government and esteemed members of the business delegation, I extend a heartfelt welcome to each one of you and express my sincere gratitude for taking the time to be part of this interaction. It is indeed a pleasure to meet you all, and we are truly pleased to host you here.
Karnataka holds a very strong relationship with Netherlands, and we are keen to strengthen our relationship further. Dutch businesses are among the forerunners of foreign investors in Karnataka.
Karnataka is home to 9% of Dutch investments in India.
We are home to 25+ Dutch companies. Karnataka is also home to Global in house Centres of Shell and Philips too.
The Govt. of Karnataka has taken several measures to enhance investor friendliness in the state. Karnataka attracted 2nd highest FDI in India in 2022-23 with 25% national share. There are more than 200 Duch companies operating in the state with investment worth over USD 1 billion.
We are very keen to further strengthen this partnership by leveraging the existing synergies with Karnataka & Netherlands. We share many similarities across major industries like food processing, Biotech and Pharma, Innovation and R&D to name a few.
Karnataka is India’s leading investment destination, with multiple accolades to itself:
We have consistently ranked first in attracting investments since 2016.
Karnataka leads the nation in coffee production.
We are the leaders in biotech production and exports.
Karnataka tops the India Innovation Index.
Bengaluru stands as the world’s fourth-largest technology and innovation cluster.
We are pioneers in renewable energy, with 63% of our installed capacity dedicated to renewables.
In electric vehicles, we lead innovation, housing over 7 auto Original Equipment Manufacturers (OEMs), 50+ auto component manufacturers, and 45+ electric vehicle startups.
Karnataka dominates electronics design in India, with our ESDM policy offering the highest incentives in the country.
We have also taken multiple bold measures to enhance our offering to Dutch companies:
We have a dedicated Industrial Policy that focuses on key areas like Artificial intelligence (AI), advanced manufacturing, and R&D, aimed at becoming an integral part of the global value chain. The policy also offers attractive financial incentives, such as Investment promotion subsidy of upto 2.25% of annual turnover for 6-10 years.
Also, we have best-in-class sectoral policies such as Aerospace & Defense, E-mobility, E-R&D, ESDM, Data Centre, and Textiles, each offering attractive incentives to potential investors.
Enhanced Ease of Doing Business – Approvals relaxed with 3 year moratorium
Relaxed labor laws – creating friendly working environment for both companies and employees
With these continuous policy reforms, we continue to emphasize that we are a policy driven state, and hence deliver continuity in our promises to investors.
Karnataka is a top destination for investors and is on the forefront of technological innovation in the country. The State is a favoured investment destination and the ideal State for businesses to flourish.
With total investments till FY 2022-23 reaching an impressive figure of INR 4.67 trillion, Karnataka continues to grow significantly as a result of investor friendly policies and is home to more than 400 MNCs with global R&D centers presence in the State. As on 2022 -23, the State stands 2nd in ranking for investment in the India.
In India, Karnataka is a leader in investment and exports. With excellent connectivity to all the major markets – 2 international airports, 47 national highways, 145 state highways, rail network of 3,818 kms., 13 minor ports and a major port in Mangalore, the State Government is making all out efforts boost investment opportunities and is ranked no.1 under the DPIIT Ease of Doing Business Ranking.
Karnataka stands first in the world to set up a 2,050 MW Solar Park at Pavagada, amongst the five biggest photovoltaic solar power parks in the world. Karnataka is the first State to announce an EV policy in the country.
As the fastest-growing metropolitan city in the country, Bengaluru, is ranked 16th position on the Prime Global Cities Index 2023 and the ‘tech city of India’, is a favored destination of US companies, contributing significantly to its GDP and technological prowess.
Bengaluru like the Silicon Valley has been able to embrace every new wave. That is why they are two of the world’s biggest growth centres. The cosmopolitan culture, talent pool, a culture of innovation, high risk appetite, human enterprise, are its strengths.
The soft infrastructure is its accommodative people, cosmopolitan culture, amazing cuisines, vibrant ecosystem for art and culture. And, of course the weather
It is important to note that Karnataka is not just Bengaluru. There are several other lovely and vibrant cities in Karnataka. They are well planned and have large talent pools besides having similar environment like Bengaluru.
The industry needs to look at cities such as Mysuru, Hubli-Dharwad, Mangaluru, Davanagere, Tumakuru, Belagavi, Gulbarga, etc. These cities are growing rapidly and they can provide excellent opportunities for various industries including IT. Our government is ready to provide all help for industries to set up shops in areas beyond Bengaluru. Make use of it.
Our state has a rich tradition of supporting industries across the sectors, from technology and manufacturing to agriculture and tourism. We are committed to fostering an environment that is conducive to business growth, innovation, and sustainable development.
Dozens of countries around the world are making Bengaluru their home. Bengaluru grew too big and too fast. And the result is obvious.
We aspire to partner with your country and jointly lead the path to sustainable growth and development. We are eager to know how we can assist you in your future endeavors. Together, we can shape a brighter and more prosperous future.
