Will make K'taka top industrial force: Patil

Tough initially reluctant, Babaleshwar MLA M.B.Patil accepted the portfolio of Large and Medium Industries and in the last three months, he has provided a dynamic thrust to make Karnataka one of the most industrially developed states in the country.

Despite his busy schedule, Patil spoke to Shyam Sundar Vattam of News Trail and shared his vision for the next five years.

Here are excerpts.

NT: You have taken up the portfolio of Large & Medium Scale Industries at a time when Karnataka is all set to make a major leap in industrial growth. What plans do you have for the next five years to make Karnataka a leading industrial developed state in the country?

MBP: We have formulated a vision to make Karnataka the #1 destination in advanced technology manufacturing not only in India but in Asia through equitable and sustainable development.

We have identified key focus sectors like ESDM, Future mobility (Li-ion battery, Fuel Cells, etc.), Green Hydrogen Aerospace, and Defence where we are in talks with major companies for setting up facilities in Karnataka.

A threetiered approach is being formulated with a focus on sect o r s with high Gross Value Addition to the economy, sectors that provide high employment, and emerging sectors.

Along with this, we want to strengthen our industrial infrastructure, give impetus to plug-and-play facilities for manufacturing, make a skilled workforce available to industry and bring ease of doing business.

NT: Within three months of becoming the industries minister, you have ushered in changes in the state's industrial scenario. What more can be done to make Karnataka an industryfriendly state?

MBP: With the progress achieved in the last 3 months, more than Rs 40,000 crore worth of investments have been secured or are in very advanced stages of discussion.

We are further creating vision groups to get precise inputs from industry veterans to tackle issues faced by current companies as well as potential investors in particular sectors like aerospace & defense, machine tools, Electronics System Design and Manufacturing (ESDM), pharma, core manufacturing, including iron, steel, cement, non-IT startups and auto/EV.

We have also created a Strategic Investments Committee to help the Department get future-ready with the help of veterans in private equity, venture capital, and infrastructure financing companies.

Lastly, we are revamping Invest Karnataka Forum board of directors to bring new ideas and a direction for the state’s investment promotion agency IKF.

We are also reviewing the ever-changing business environment and becoming more conducive for investors by reforming the Single Window System to further integrate key departments for approvals and reduce the target timelines for approvals.

NT: Last year, the previous BJP government held the Global Investors’ Meet in Bengaluru and claimed to have signed MOUs worth several lakhs. Can you tell us how successful it had been and how many industries have made investments in the State? The previous CM, Basavaraj Bommai had promised to release a status paper on the total investment that came to Karnataka after the GIM, but the BJP did not come to power. Will you share details of the outcome of the GIM?

MBP: I appreciate your interest in the Global Investors’ Meet that took place in Bengaluru last year.

The government has already been able to convert more than 50% of the Mous that were signed during the meet into SHLCC and SLSWCC cleared projects. Our government remains committed to fostering a business-friendly environment and driving sustainable economic growth in Karnataka through further interaction.

The current government has been diligently following up on these signed MOUs to ensure their successful implementation. Additionally, we are also in talks for new investment opportunities.

I am pleased to inform you that a considerable number of industries have shown genuine interest and made substantial investments in the state. We cannot comment on the promises made by the previous Chief Minister, I would like to clarify that my focus is on driving the state’s industrial growth and ensuring a conducive environment for businesses.

While the political landscape may have shifted, our commitment to transparency and accountability remains unwavering.

In the spirit of openness, I assure you that my department is actively engaged in compiling comprehensive data on the investments that have flowed into Karnataka to date.

NT: Investors complain about high tax rates in Karnataka and poor infrastructure. How you are going to address this issue?