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‘New India’ is possible only with bold reforms, massive infra and best of talent

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Invest Karnataka 2022

The Prime Minister, Shri Narendra Modi on 2 November 2022 addressed the inaugural function of Invest Karnataka 2022, the Global Investors Meet of the state via video conferencing.

Addressing the gathering, the Prime Minister greeted the people of Karnataka for their Rajyotsava, which was observed on 1st November . The Prime Minister remarked that Karnataka is an amalgamation of tradition and technology, nature and culture, wonderful architecture and vibrant startups.

The Prime Minister expressed delight at the organisation of the investors’ meeting in Karnataka and remarked that it is a perfect example of competitive and cooperative federalism.

The Prime Minister said “Building a New India is possible only with bold reforms, massive infrastructure and the best of talent. Today bold reforms are carried out in every sphere of the government.” He mentioned GST, IBC, Banking reforms, UPI, abolition of 1500 outdated laws and 40 thousand unnecessary compliances. He also said that steps like decriminalisation of many company law provisions, faceless assessment, new avenues for FDI, liberalisation of drone rules, geospatial and space sector and defence sector are bringing unprecedented energy. The Prime Minister said that the number of operational airports has doubled in the last 8 years and Metro has expanded in more than 20 cities.

Reflecting on the power of the double-engine government in Karnataka, the Prime Minister said that it is one of the reasons for the faster development of many sectors in the state. Giving examples, the Prime Minister stated that Karnataka continues to maintain its place among the top rankers in the Ease of Doing Business and credited this to its inclusion in the list of top states in terms of FDI. He underlined, “400 of the Fortune 500 companies are here and out of 100 plus unicorns of India, more than 40 are in Karnataka” he added. The Prime Minister mentioned that Karnataka is being counted as the largest technology cluster in the world today which is home to industry, information technology, fintech, biotech, startups as well as sustainable energy.