BENGALURU: The state government on Thursday decided to hire global management consultant Boston Consulting Group (BCG) as its knowledge partner to promote Karnataka as the destination for global investment.
After a cabinet meeting, law and parliamentary affairs minister JC Madhuswamy said the US group will showcase Karnataka for global investors and persuade them to invest in the state. The group has been hired “for 12 months at a professional fee of Rs 12 crore plus GST”.
Industry department officers said BCG is expected to help Karnataka strike global linkages as the state plans to hold global investors’ meets after Covid-19 health crisis abates. “Our key aim is to attract more investments and create more jobs,” an officer said.
In recent weeks, the government launched a string of investor-friendly measures, including amending land reforms Act and erasing income and other restrictions in purchase of agricultural land, in its aggressive push to invite capital into the state.
Interest-free loan to 4 electricity supply companies
The government recently amended the Karnataka Industries Facilitation Act to allow investors to set up industries without any clearances or approvals from the government for the first three years. It also announced labour reforms.
The cabinet decided to provide interest-free Rs 2,500-crore loan to four electricity supply companies to clear their loans.
After a cabinet meeting, law and parliamentary affairs minister JC Madhuswamy said the US group will showcase Karnataka for global investors and persuade them to invest in the state. The group has been hired “for 12 months at a professional fee of Rs 12 crore plus GST”.
Industry department officers said BCG is expected to help Karnataka strike global linkages as the state plans to hold global investors’ meets after Covid-19 health crisis abates. “Our key aim is to attract more investments and create more jobs,” an officer said.
In recent weeks, the government launched a string of investor-friendly measures, including amending land reforms Act and erasing income and other restrictions in purchase of agricultural land, in its aggressive push to invite capital into the state.
Interest-free loan to 4 electricity supply companies
The government recently amended the Karnataka Industries Facilitation Act to allow investors to set up industries without any clearances or approvals from the government for the first three years. It also announced labour reforms.
The cabinet decided to provide interest-free Rs 2,500-crore loan to four electricity supply companies to clear their loans.
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