Government Pledges Full Support for Industrial Growth in Karnataka Despite Competition from Neighboring States: Minister G. Parameshwara

Bengaluru -  Karnataka's Home Minister Dr. G. Parameshwara reaffirmed the Karnataka government’s unwavering support for industrial development, emphasizing the state’s resilience in the face of competition from neighboring states such as Tamil Nadu, Andhra Pradesh, Telangana, and Maharashtra. Speaking at the FKCCI Founder’s Day celebration, he pledged full cooperation for establishing new industries across Karnataka.

During the event, Dr. Parameshwara presented the prestigious Bharat Ratna Sir M. Visvesvaraya Memorial Award to B.A. Srinivasa Gupta, Chief Promoter of Bhagyalakshmi Group of Firms. In his address, the minister praised Karnataka’s pivotal role in the global industrial landscape. “Karnataka, along with India, has transitioned from being viewed as a third-tier nation to becoming the world’s third-fastest growing economy,” he said, reflecting on the state’s rapid industrial growth.

Dr. Parameshwara credited India’s highly skilled workforce for driving Karnataka’s industrial advancement, which is in line with Sir M. Visvesvaraya’s visionary legacy. He noted that Bengaluru alone contributes to 50% of India’s software output, demonstrating the state’s leadership in the tech industry. “We are on par with the best in the world, fulfilling Sir M.V.’s vision,” he remarked.

Addressing the challenges posed by neighboring states, Dr. Parameshwara reiterated the government's commitment to fostering industrial expansion, increasing capital investment, and creating employment opportunities for Karnataka's youth. “Our government is prepared to meet the competition head-on and will continue to extend full support to industries,” he assured.

Highlighting future industrial prospects, Dr. Parameshwara spoke about the development of Asia's largest industrial hub in Tumkur, spanning 20,000 acres and attracting significant investments, including from HAL. He encouraged entrepreneurs to explore opportunities beyond Bengaluru, showcasing Bhagyalakshmi as a model of successful local enterprise growth.

FKCCI President Ramesh Chandra Lahoti also emphasized the organization’s 108-year contribution to Karnataka's industrial progress. “FKCCI, founded by Sir M.V., has played a key role in shaping the state’s industries over the last century,” he said.

The event was attended by FKCCI President Designate MG Balakrishna, Senior Vice President Uma Reddy, and several other dignitaries.