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Karnataka a preferred destination for investors; attracted highest FDI amid COVID-19, says CM

IBEF:  October 26, 2020

Karnataka Chief Minister B S Yediyurappa said the state continue to be the most preferred destination for investors and has attracted the highest FDI inflow of Rs. 10,255 crore (US$ 1.39 billion) in the country in the April–June quarter, amid the COVID-19 pandemic. In a series of tweets, the Chief Minister said India’s first sector-specific investment Rs. 3,540 crore (US$ 480.65 million) Consumer Electronics and Durable Goods cluster will come up in Hubbali. "In line with PM Mr. Narendra Modi’s vision of AtmaNirbhar, the cluster will offer world-class infra for electronic goods manufacturing and create 20,000 jobs," he added. Yediyurappa said Karnataka continues to be the power house of research and innovation.

"It is a matter of pride that 15 Karnataka startups won National Startup Awards in wide-ranging sectors from urban mobility to satellite technology, organic farming to augmented reality," he noted.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.