Will restore lost confidence of investors, says Siddu

Maqsood Maniyar | NT

Bengaluru: Chief Minister Siddaramaiah on Monday said that his State government would restore the “lost confidence” of investors, adding that Karnataka had a favourable climate for technology in terms of manufacturing and research.

He made the comments after releasing a brochure for the upcoming tech summit. He along with his Cabinet colleagues interacted with industry leaders as well.

“Our government is committed to restore the lost climate for investments and create a more favourable environment for technocrats to innovate, invent and invest in Karnataka. The Congress has always given stability to the political system, governance and administration in the state. We are committed to provide a stable and predictable policy environment to make long-term commitments,” the CM said.

Siddaramaiah was reiterating the claim made by his party colleagues including Information Technology and Bio-Technology (IT-BT) Minister Priyank Kharge that BJP’s encouragement of “communal elements” hindered investments from flowing into the state.

“Bengaluru, known as the silicon valley and IT capital of India, has networks with all the major markets. This will aid the manufacturing sector to access markets and service sectors to reach out to potential clients. Bengaluru is number one in IT and BT exports and has all the potential to be number one in the world and our government is committed to achieving it. Overall, Bengaluru and Karnataka are ideally positioned to continue to lead the country in technology and innovation,” Siddaramaiah said.

Karnataka forayed into IT back in late 80s: CM

Stating that Congress leaders in Karnataka recognized the potential of the IT sector early in the late 1980s and early 1990s, the CM said the foundation for the state's IT ecosystem was laid based on the vision of former Prime Minister Late Rajiv Gandhi, by promoting policies that encouraged investment in technology and infrastructure.

“The Congress-led government introduced Karnataka's first IT policy in 1992. This policy laid the groundwork for the development of Electronics City, which eventually became a symbol of India's IT prowess,” he said.

The CM added that it was our collective responsibility to ensure that these technological advances are inclusive and accessible to all sections of society.