Karnataka best place for investments

Bengaluru: Union Minister for Finance Nirmala Sitharaman stated on Wednesday that for industries which are moving out from China and Europe, Karnataka is the best place for investments.

Sitharaman was delivering her keynote address at the inaugural session of the three-day Global Investors' Meet (GIM).

"They are moving out to other destinations which are offering more than just tax incentives. Karnataka is the major job generator in the country. While contributing 8.8 per cent to the national GDP, whilst its population is just five per cent of total national population, 10 per cent of all formal jobs are created here," she explained.

"I wish to assure all the investors that the state is absolutely very nimble-footed, that the policies are kept abreast of the global developments at a time when all of you are trying to move in. Here is a state which has showcased itself for its previous achievements, and assuring that even now and for the next 25 years during Amrit Kal, Karnataka will be an essential foundation for many investors to come into India, from here to the entire globe," the minister stated.

"I would like to draw also from what is evolving around India globally. All over there is definitely a sense of uncertainty. Immense amounts of challenges, that is not just for India, every country in the world feels the headwinds are very strong elements of feeling of certainty completely absent, even as we all started talking about China plus one," she stated.