Speech written for the Hon’ble Minister Shri. Katta Subramanaya Naidu, Minister for Large and Medium Enterprises, Government of Karnataka for the Pravasiya Bharathiya Divas

It gives me immense pleasure to address you all in this year’s Pravasi Bharathiya Divas. I am addressing you at a time when India is dominating the global markets with enviable growth rates. I do appreciate the role played by all of you in contributing towards making this growth more sustainable. The Success story of India as an emergent Nation with a proactive leadership is the talk of the town. Indian Industries has entered into an atmosphere of higher competition in the era of globalization and India companies are making their presence felt globally by attracting Foreign Direct Investment (FDI) and Foreign Institutional Investments (FII’s)

As you are aware, Karnataka is one of the most industrialized states in India and has shown remarkable strides in developing knowledge and manufacturing industries. The success story of Karnataka has led to the creation of a paradigm shift in creating new development models. With an impressive economic growth rate and high per capita income levels, the state is the lead runner in Social and Economic parameters. This was due to the proactive role played by the government of Karnataka in promoting industrialization through private and public participation with the firm belief that Industrial development can create more job opportunities and root out much of the developmental problems.

As you all know the often told success story of Karnataka in the Information Technology sphere .The Growth of Information and communication Technology (ICT) Industry in Karnataka was stupendous. The Hardware Industry in Karnataka is also growing at the same rate as the software industry .Karnataka has 50 % of all biotechnology companies in India and generates about 50 % of the total revenue in the sector. The Government also has supported the Manufacturing Industry in the state and this sector has played a crucial role in generating employment opportunities. The Government has also supported the infrastructure development in the state with massive investment through public private partnership.

The state has a legacy of high quality research institutions and the state as of now have more than 100 Research and development centers of various multinational and domestic companies. By the proactive actions of the Government of Karnataka, the state has emerged as one of the largest recipient of Foreign Direct Investment (FDI) in the country and is now known internationally as a technological and manufacturing hub.

The focus sectors for investment in Karnataka are Information Technology / Information Technology Enabled Services, Biotechnology, Pharmaceuticals, Engineering, Automobiles and Auto components, Manufacturing, Maintenance, Repair and overhaul services for aerospace, Infrastructure Development, Textiles and Food processing.

Karnataka has made spectacular strides in Industrial Development, e-governance initiatives, improvement of local governance, public private participation in infrastructure management, pioneering implementation of Panchayati Raj reforms, industrial friendly policies of the Government and the close cooperation between the Government and the Private Sector in branding the state as a unique investment destination.

Karnataka has one of the most congenial business environment with a large pool of skilled human resources aided by the presence of a large number of Engineering, Medical and other technical institutes, Investor friendly policies of the Government and a political environment which is stable and proactive in promoting industries. The Government is also promoting investment to tier II and tier III cities to promote a better investment climate and bridging the Socio-economic divide in the state. The state has been spear heading economic reforms and believes in the fact that a stable and a sustainable economic growth can be realized only by close cooperation between the Government and the private sector.

Karnataka has an excellent communication facilities and accessibility provided by railway, airport, national highways and seaports. Karnataka stands out among Indian states for its conservative policies, relatively healthy state finances, solid telecom infrastructure and easy availability of skilled workers.

Karnataka has over the years emerged as an ideal investment destination. The Government has played an important role in helping all sections of the society enjoy the benefits of the economic growth. The Private sector has partnered with the Government in addressing the development challenges and has laid the foundation of a strong public –private partnership in the state. This partnership has helped the state to drive the economy on a growth trajectory. The technological collaboration and the managerial expertise have not only helped the state to improve its competitiveness but also helped the government in undertaking projects in addressing the social and economic challenges, imparting training to the underprivileged sections of the society , industrialization and development of backward districts and helping the state to promote as an ideal investment destination.

I am taking this opportunity to request the active participation of all of you in the Development of Karnataka. In fact I take this opportunity to acknowledge the bonding relationship which you had with the state of Karnataka and admire the support and cooperation extended to us.

Let me convince you that Karnataka is your right partner for success and I look forward to an interesting and ever lasting collaboration and partnership for Development with all of you.

Thank you

Quebec – India Trade and Economic Relations a win-win Partnership

Trade and Economic relations between Quebec and India is a win -win partnership for both said Quebec Minister for Economic Development, Innovation and Export Trade Mr. Raymond Bachand addressing the captains of Industry during an interaction organised by the Confederation of Indian Industry (CII) in Bangalore today. Mr. Bachand said that a lot of synergies exist between India and Quebec which is the second largest province in Canada and said his state believes that the way forward for this synergy is the economic growth through Innovation.

Mr. Bachand said that over the years the world have seen the emergence of India as the most dynamic and vital economy and Quebec offers the right mix of resources , expertise and dynamics to partner with India. Mr. Bachand said that the world’s best companies have set up shops in Quebec and added that the state is the Research and Development Hub in Canada with 2.7 % of the GDP being spent on R & D Activities. The Quebec region is also an aeronautical Hub providing huge opportunities for companies based in Bangalore to collaborate. He further added that India and Quebec have lot of similarities in terms of values of tolerance and multiculturalism and commended on the quality of Engineering and scientific research students in India as one of the best in the world.

In his presentation, Mr. Jacques Daoust, Chairman of the Board and Chief Executive Officer, Investment Quebec said that the areas of economic cooperation between Quebec and India includes Aerospace, Life Science, Information Technology , Transportation, Energy and mining. Mr. A.K Saxena, Vice Chairman, CII Karnataka said that close relationship between Quebec and India is the way forward to strengthen the Trade and Investment. Meanwhile Alchemic Dream Inc, a Canadian company specializing in Customer Services announced an agreement with Comat Technologies a provider of outsourced business solutions. Alchemic Dream and Comat Technologies have partnered to capture a bigger market share through a new support center based in India, in order to further develop the growing demand in the online Industry

India and Brazil reinforce economic and trade relations

India and Brazil today reinforced the economic and trade relations and exuded that the target of bilateral trade for $10 billion is achievable. This was the highlight of the Brazilian Industry’s interaction with the captains of the Indian Industry organized by the Confederation of Indian Industry (CII) in Bangalore. Underlining the potential of Brazil as an investment destination, Mr. Armando Monteiro Neto, President, National Confederation of Industry (CNI), Brazil said that Infrastructure, Biofuel, Food Processing, IT and pharmaceuticals will drive the trade and economic relations between the two countries. The National Confederation of Industry (CNI) which is the apex industry body in Brazil with a membership of 2300 companies have played an important role in promoting economic reforms in Brazil and represented Brazil in international trade negotiations.

While asking the Indian Industry to invest in Brazil, Mr. Neto said that with a GDP Growth rate of 4.2% and with an inflation rate of 3 %, Brazil provides the Ideal investment destination for Indian Companies. In his opening remarks, Mr. N Reguraj, Chairman, CII Karnataka in his opening remarks said that a lot of complementaries exist between India and Brazil and similar Socio-Political –Economic background makes the two countries Natural Partners.

During the interaction BEML, the Indian Public sector enterprise said that they have signed an MOU to set up a manufacturing unit in Brazil to tap the Latin American Market and also Tata Motors, India's largest automobile company, and Marcopolo, the Brazil-based global leader in body-building for buses and coaches have entered into an understanding to set up a company in Karnataka to manufacture and assemble fully-built buses and coaches.

Non Conventional Energy, Aerospace collaboration, Biotech and Nanotech and Space Technologies are the other sectors which offer vast opportunities for Joint collaboration between India and Brazil, said CII.