Lagatar24 Desk
New Delhi, May 22: Basavaraj Bommai, the chief minister of Karnataka, went for Davos, Switzerland, on Sunday to attend the World Economic Forum’s annual meeting, where he will meet industry leaders and others to help lure investments to the southern state.
“I am set to meet many business honchos and captains of industry. Many of them have shown interest in investing in Karnataka. I am confident of getting a good response for our efforts to attract investments to the state,” Bommai said before departing for Davos.
He also said that the state attracted the highest share of foreign direct investment (FDI) in the last quarter.
“India has reported the highest foreign direct investment (FDI Inflow) to the tune of $83.57 billion for the financial year 2021-22. In the computer hardware and software sector, Karnataka bagged the highest share of the FDI inflow (53%) followed by Delhi & Maharastra (17% Each),” he tweeted.
Karnataka, like its neighbours, has been attempting to attract investments in order to create more jobs and assist the economy recover from the Covid-19 pandemic-related lockdowns.
According to data, the number of people days in Karnataka has nearly quadrupled from 8.58 crore in 2017-18 to 16.28 crore in 2021-22, indicating a growth in demand for jobs under the Mahatma Gandhi National Rural Employment Guarantee Act (MNREGA). The number of people who have sought asylum in MNREGA has virtually doubled in the last five years, from 38.91 lakh in 2017-18 to 63.92 lakh in 2021-22.
However, Bommai and previous governments continued to place a high priority on securing large-scale investments, while a significant portion of small-scale industries continued to struggle.
According to a declaration made in the state legislature’s upper house in March by N Nagaraju (MTB), Karnataka’s minister for small scale industries, the epidemic caused over 45,000 workers in small scale enterprises to lose their jobs.
