Karnataka Top The Charts As It Attracts Investment Proposals Worth Rs 1.6 lakh Crore In 2020

Karnataka Chief Minister B S Yediyurappa on Monday (15 March) said that Karnataka has attracted investment proposals worth a whopping Rs 1.6 lakh crore from January to December 2020. This amounts to 39 per cent of all investment proposals made in India in that period.

"Karnataka continues to be the No.1 destination for investors and entrepreneurs. With investment proposals worth more than Rs 1.6 lakh Crores, Karnataka attracted 39 per cent of the total investment proposals made in India between January and December 2020", Yediyurappa tweeted.

As per reports, Karnataka has bagged the number one position when it comes to the investment proposals made by entrepreneurs which stand at Rs 1,62,492 crores and is ranked third in terms of foreign direct investment.

This is almost double the 2019 figure wherein Karnataka attracted investment proposals worth Rs 83,492 crore.

As per DPIIT data, India attracted total investment proposals of over Rs 4.1 lakh crore. While Gujarat and Karnataka received more FDI, they ended up getting a combined investment proposals of less than Rs 1 lakh crore.

FICCI's national executive member J Crasta has attributed Karnataka's strong performance to the state's knowledge hub and workforce efficiency and Industry Minister Jagdish Shettar has claimed that the state will attract even more investment in the coming months as a result of its new investment policy.