Though Karnataka witnessed a significant fall in the ease of business ratings this year due to the coronavirus pandemic, the state attracted 50% investment proposals from entrepreneurs and businesses across the country between the period of January and May 2020.
The Union Ministry of Commerce and Department of Promotion of Industry and Internal Trade released the latest data showing that Karnataka garnered more than Rs 1.1 lakh crore of the Rs 2.2 lakh crore worth of investment proposals received by the country. The state government said that this report confirms that Karnataka attracts large interest from investors perhaps due to the introduction of industry reforms by the state.
Data revealed that in 2019, the investment rankings of Karnataka was as not more than 25% of investment proposals were converted into ground projects. Jagadish Shettar, the Minister of Industries said that the political uncertainties in 2019 could have affected the State’s investment ratings.