Invest Karnataka 2016 aims to create a platform for the best minds to meet, exchange ideas and drive forward the state’s vision of prosperity for all – by employing technology, innovation, inclusivity and sustainability as key factors for development. The Meet, scheduled from 3rd to 5th February 2016, is another step in this direction.
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The Karnataka government is pitching for global investments in the textile sector, especially for specialised industries such as hospitals, sports and infrastructure.
The State is home to 70 large and medium textile companies and more than 50,000 small units operate under the micro, small and medium (MSME) categories. The main competitive advantage for Karnataka is the presence of a large pool of labour and the key raw material of cotton.
Cotton is cultivated in about 5.5 lakh hectares and the State produces about 6 per cent of the total produced in the country. In sericulture, the State leads as the producer of 65 per cent of India’s raw silk. We are also the largest wool producing states, contributing 12 per cent. The State exports readymade garments to countries such as the US, the UK, Italy, Germany, Western Europe, Hong Kong, Turkey, Canada and Australia.
Karnataka is keen to emerge as a leader in the technical textile industry (builtech, clothtech, hometech, meditech) concentrated primarily in Bengaluru.
‘Invest Karnataka 2016’, a three-day event which would be inaugurated by Union finance minister Arun Jaitley on February 3 organised by Invest in Karnataka, Department of Industries and Commerce
Karnataka would showcase 145 projects during the event
A good participation from India Inc—Ratan Tata, Anil Ambani, Anand Mahindra, Sajjan Jindal, N.R. Narayana Murthy, Kiran Mazumdar-Shaw, Dr Devi Prasad Shetty, Kris Gopalkrishnan, Gautam Adani and Kumar Mangalam Birla—have confirmed participation in this global investors’ conference. Besides, partner countries which have confirmed participation include France, Japan, Sweden, South Korea, the UK, Italy and Germany.
