The South Indian state of Karnataka has embarked on a major push for infrastructure development, logistics support for exporters, balanced economic growth and diversification and decongesting the city of Bengaluru with plans to have the second airport in Bengaluru, two more ports on the western coast and satellite cities.
Karnataka will soon announce the location of the second airport in Bengaluru, according to Karnataka Chief Minister’s political secretary Naseer Ahmed.
The location is still under consideration and earlier reports said potential locations include Kunigal, Ramanagara, Bidadi, and Harohalli. The government had conducted surveys to determine the most strategic site for the airport.
Speaking to the Media in Dubai during the NRI Invest Summit & Buyers’ Meet organized by the government of Karnataka, Naseer Ahmed said: “We coming out with the second international airport, the first airport is handling more than 30 million people per year and therefore there is need for a second airport. We are currently in the process of identifying multiple locations.”
Karnataka, India’s innovation and economic powerhouse, is extending a pioneering investment opportunity to Non-Resident Indians (NRls) through the NRI Invest Summit & Buyers’ Meet, marking the first-of-its-kind initiative by a state government aimed at attracting global investments from NRls.
The government is welcoming vendors and service providers to establish trade partnerships for Karnataka-based products and services, further enhancing business opportunities.
In collaboration with a leading English daily published in Bengaluru and Qatar, the Government of Karnataka is focused on fostering economic growth and creating long-term value by welcoming international investments.
The Meet, organised in Riyadh and Dubai, provides a unique platform for NRls to explore Karnataka’s thriving business landscape and tap into its vast potential.
For the first time, NRls are invited to invest in Karnataka’s booming sectors with just a minimum investment of Rs 5 crore, making it a compelling opportunity for global investors looking to enter the Indian market.
The event featured high-level discussions, one-on-one interactions, and presentations from senior officials. Other prominent dignitaries included Secretaries of the Finance, MSME, and Textile Departments, Managing Directors of Tourism, IT & BT, KSSIDC, KMF, Mysore Sandal Soap & Detergents, KSIC, and KHDC, as well as industrialists from KASSIA, Karnataka’s leading MSME body.
“This is an exceptional opportunity to meet with Karnataka state representatives, explore hundreds of investment opportunities across various sectors, and forge trade partnerships that can help NRls establish a strong foothold in the Karnataka market. With abundant resources, a robust economy, and supportive government policies, Karnataka offers unparalleled prospects for global investors,” Naseer Ahmed said.
Dr PC Jaffer, IAS, Finance Secretary, government of Karnataka said: “In order to give more logistic support to exporters, Karnataka is planning to develop two more ports on the western coast, besides Mangalore port and Karvar port.
In the past 15 years, Bengaluru has seen huge growth. There is another challenge, where we need to develop satellite cities like the way Delhi has done.”
Ramandeep Chowdhary, IAS, Secretary to government, Commerce and Industries Department (MSME & Mines) said: “Karnataka is planning to develop a few satellite cities with integrated townships where every facility will be available. It can be a free zone and certain portions can be designated as a special economic zone. One is coming up in Bidadi, which is an integrated township. Another one is in Kolar gold fields.”
Another township is planned with focus on four areas: Knowledge, Innovation, Health and Research. Land is bring proposed for such a city where globally reputed institutions in these fields are attracted, offering incentives and facilities.
The industrial cities and satellite cities are aimed at decongesting Bengaluru.
“Under the visionary leadership of Karnataka Chief Minister Shri Siddaramaiah, the state has thrived as a global investment destination, witnessing remarkable achievements in industrial growth, fiscal performance and foreign direct investment. His focus on inclusive and progressive economic policies has bolstered Karnataka’s position as one of India’s most dynamic states,” said a press release.
