Karnataka welcomes Central European Investing Firms

FICCI-2nd-India-CEE-business-forum-indianbureaucracy
FICCI-2nd-India-CEE-business-forum-indianbureaucracy

The state of Karnataka will ensure maximum transparency as well as quick decisions on proposals received from investing companies. Stating this in his keynote address at a dedicated session on Karnataka at the 2nd India-Central Europe Business Forum conference organised by the Federation of Indian Chamber of Commerce & Industry (FICCI) and the Ministry of External Affairs, Govt. of India in Bengaluru today, Mr. R V Deshpande, Minister for Large and Medium Industries and Tourism, Government of Karnataka, said that the Karnataka Government is taking strident steps to enhance the ease of doing business in the state.

Mr Deshpande highlighted the core strengths of Karnataka in key sectors like IT, biotechnology, tourism, among others, and added that Karnataka with its rich natural resources and leadership in key business sectors and Central European economies with their industrial expertise could enter into collaborative partnerships. Mr Deshpande also spoke about the state growing as a manufacturing hub.

Ms Ratna Prabha, Additional Chief Secretary, Government of Karnataka, said that areas like defence and aerospace offer significant scope for India-Central Europe partnerships. Bengaluru is a hub of defence and aerospace industries in India.

At the session, the Department of Commerce and Industries, Government of Karnataka, and the Ministry of Foreign Affairs and Trade, Hungary signed an MoU. The MoU provides for deep cooperation in areas such as water management, automotive manufacturing, IT, agriculture, healthcare etc.

Mr Gaurav Gupta, Commissioner (Industrial Development) and Director I&C, Government of Karnataka, directed attention on key sectors in Karnataka that would be attractive to Central European investors. The state is a leader in areas like automotive manufacturing, aerospace and defence, heavy engineering and machine tools, pharma manufacturing, agro and food processing, IT, biotechnology, electronics manufacturing and semi-conductor designing and manufacturing, textiles and garments, tourism, and renewable energy.

Dr Laszlo Szabo, Deputy Minister for Foreign Affairs and Trade, Hungary, said the MoU that was signed at the conference highlights the strong complementarities that exist between India and Central Europe. He said that Hungarian firm has been associated with India’s Mars mission. He invited the Karnataka Government to send a business delegation to Hungary to explore investment opportunities in the Central European country.

Mr Rakesh Bakshi, ICEBF Convenor and CMD, RRB Energy Ltd, spoke about the scope for bilateral cooperation in the area of renewables. He added that Karnataka could also be an R&D destination for many Central European firms.

IndianBureaucracy.com wishes the very best.

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