Karnataka Economic Summit Kicks Off in Bangalore | SupportBiz


Karnataka Economic Summit Kicks Off in Bangalore

The summit will address infrastructure challenges in areas like energy, road, railways, ports and airports.

Bangalore, December 16: In a bid to address the challenges triggered by demand and supply gaps, slow addition of capacities and unavailability of domestic fuel that the IT capital of the country is facing, Bangalore Chamber of Industry and Commerce (BCIC) is organizing its first ‘Karnataka Economic Summit’ in Bangalore on December 16 and 17.

The summit, focusing on governance, urbanisation and infrastructure, will be inaugurated by Karnataka Chief Minister Siddaramaiah. Stakeholders from industry, academia and government will participate in the meet to plan the growth of the State.

The Chamber said in an earlier notification that, Karnataka requires several minor airports across the state to ensure better connectivity. Also the existing ports and airports’ capacity should be enhanced.

As per S.L. Rao, former chairman of KERC and ISEC, Bangalore, being a hotspot for employment, has been a preferred destination for prospective job seekers from all over India. “It is putting strain on infrastructure in the State,” he said.

According to S. Vaitheeswaran, Managing Director & CEO, Manipal Global Education Services, the summit, driven by action plan to combat social issues, will highlight government’s role in promotion of economic growth in the state. “Project clearances, bottlenecks, and issues delaying project clearances will be dealt with in detail. As Karnataka is dominated by Bangalore, we are exploring as to how to improve investment flow to other tier II and III cities such as Hubli-Dharwad, Mysore, Mangalore and Gulbarga,” he said, reports Business Line.

To give an overview of the current infrastructure challenges in the State, the summit’s knowledge partner Deloitte has presented a study recently. “The study basically compares Karnataka with other States in key parameters such as infrastructure, investment opportunities, human resource and skill sets availability, ease of doing business, taxation policy and such other investor-friendly issues which ebb investors to look at the State as a growth driver for them,” said Vedamoorthy Namasivayam, senior director, Deloitte.