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Karnataka to hire BCG services at ₹12 cr. to attract investments

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Karnataka will continue hiring the services of Boston Consulting Group India Pvt. Ltd., an MNC, for one more year for bringing investments to the State.

The State Cabinet on Saturday decided to pay fees of ₹12 crore and GST to the firm for its service.

The firm will act as a knowledge partner to the government and work out strategies for attracting investments to the State, both from global and domestic players, Law and Parliamentary Affairs Minister J.C. Madhuswamy told presspersons after the Cabinet meeting.

The State decided to hold the Global Investors’ Meet 2022 and Minister for Large and Medium Industries Murugesh Nirani is expected to announce the dates for the meet in the next couple of weeks after consultations with Chief Minister Basavaraj Bommai. GIM was postponed owing to the pandemic.

Over the last few months, the government has amended laws related to land and industry for ensuring ease in doing business and brought out a new industrial policy (2020-25) for attracting investments to the State.

Thai delegation

On Saturday, Nitirooge Phoneprasert, Consul General of Thailand in Chennai, held talks with Mr. Nirani and discussed business opportunities in the State.

Briefing the Thai delegation about the investment opportunities, Mr. Nirani said the State was the ideal destination for investments. Karnataka was the third highest FDI recipient in India in 2020–21 at $7.6 billion, with 14% national share, he said.

Housing project

The Cabinet has approved a proposal of the Karnataka Housing Board to develop a residential layout at Lingapura village in Anekal taluk, Suryanagar second phase, on 50:50 basis with owners of the land. Both the KHB and landowners would get equal share in the 110-acre plot.

A decision was taken to develop a cultural and heritage centre at Veerapura in Magadi taluk of Ramanagaram district, the birthplace of late Shivakumara Swami of Siddaganga Mutt, Tumakuru. The estimated cost of the project is ₹25 crore.