Invite extended to industrial investors

BANGALORE: Chief Minister D V Sadananda Gowda assured all support to provide a favourable environment to industries coming forward to invest in the state. “We will extend all support for you to prosper, which will result in the empowerment of people of the state,” he said during his address at the curtain raiser of the second edition of the four-day Indian Manufacturing Show-2012 (IMS- 2012) here on Friday. Gowda acknowledged the contribution of small and medium-scale enterprises (SMEs) to socioeconomic development. Minister for Major and Medium-scale Industries Murugesh Nirani said that the event is aimed at the MSME sector to reiterate the opportunities available for Indian and global industries. ‘World Bank Study Ranks State Highly’Adding that the state accounts for over half of machine tool manufacturing in the country, Nirani said, “A World Bank study revealed that Karnataka ranks top among investment destination states. The outlay of this industry would be around `60,000 crore to 70,000 crore over the next five years.” CMD of Bharat Forge Ltd Baba Kalyani, also cochairman of the advisory committee of IMS-2012 felt the need for industrialisation free of roadblocks. “Lack of infrastructure, red-tapism are issues needing emergent redressal,” he said. He, added that while Indian entrepreneurs struggle at home, they excel abroad. The four day event IMS- 2012 is being jointly organised by the IMS Foundation under the aegis of the Laghu Udyog Bharati- Karnataka and Reliance Broadcast Network Ltd.