Karnataka and Centre Collaborating in True Team India Spirit: Rajnath Singh
Click to start listening
Synopsis
Union Defence Minister Rajnath Singh inaugurated the Global Investors’ Meet in Bengaluru, highlighting the cooperative spirit between the Centre and Karnataka. He encouraged investment in the state, showcasing its vast resources and talent pool as integral to India's growth.
Key Takeaways
- Team India spirit emphasized by the Centre and Karnataka.
- Investment in Karnataka = access to India’s resources.
- Cooperative federalism is vital for economic growth.
- Focus on AI and next-gen infrastructure.
- Single-window system for investor ease.
Bengaluru, Feb 11 (NationPress) Union Defence Minister Rajnath Singh officially launched the esteemed Global Investors’ Meet (GIM) in Bengaluru on Tuesday.
During his inaugural address, Singh remarked that both the Centre and the state are operating with the genuine essence of Team India.
Speaking to attendees at the Palace Grounds in Bengaluru, he highlighted, “When you invest in Karnataka, you are tapping into the collective strength of India’s vast resources and talent pool. Today, we are in an era of cooperative federalism, where we embody the true spirit of Team India.”
He pointed out that an excellent illustration of this cooperation is the GST framework, where representatives from both central and state governments unite to decide tax rates through consensus.
“This reflects how central and state authorities are collaboratively working to bolster the nation’s economy. A significant factor contributing to the growing culture of cooperative federalism in India today is the leadership experience of our Prime Minister, who has previously served as the Chief Minister of Gujarat. My own experience as Chief Minister of Uttar Pradesh has also provided me with a profound understanding of the need for collaboration between the Centre and state,” he expressed.
Singh added that today, India’s cooperative federalism is more robust than ever, making it an ideal time to invest.
“The opportunity before you is extraordinary; now is the moment to seize it. Consider long-term investments with confidence and make the right decisions,” he stated.
He further noted: “Mahatma Gandhi once provided us with a guiding principle for decision-making. He urged us to reflect on the needs of the most marginalized before making choices. In a similar vein, I offer my own guiding principle: Whenever you feel uncertain about India’s future or potential, just do one thing: come to Bengaluru.”
“Witnessing the ambition and groundbreaking initiatives in Bengaluru will dispel any doubts you have about India’s future. Your uncertainties will vanish, and your faith in India’s potential will strengthen,” he emphasized.
“Investing in Karnataka not only grants you access to the state’s resources but also connects you to the strength of the entire nation. By supporting Karnataka, you integrate into India’s economic system, which means your investment here grants you access to the nation’s extensive and diverse resources,” he elaborated.
“If your business requires minerals, you can source them from Chhattisgarh and Odisha. If you need skilled labor, the diligent professionals from Uttar Pradesh and Bihar are ready to assist. Should your supply chains rely on MSMEs, you’ll find robust support from the MSMEs in Noida and Coimbatore,” he affirmed.
He also mentioned that with HAL and a flourishing aerospace sector, Bengaluru is crucial to India’s journey into the skies.
Moreover, Singh stated: “We have progressed beyond the age of IT and software and are now entering the era of AI. Bengaluru laid the groundwork for India’s software industry. I have immense faith in the talent and innovation of Bengaluru’s youth. Just as it established India’s software technology base, I am confident that Bengaluru will soon provide India with its first foundational Artificial Intelligence model.”
He concluded by stating that for investors seeking world-class infrastructure, Karnataka offers next-generation facilities.
“If you need skilled resources, Karnataka stands out with its highly talented and forward-looking workforce,” he emphasized.
“In India, we have actively tackled challenges that investors have previously faced. The cumbersome multiple clearance process has been streamlined into a single-window system for a faster and more hassle-free experience.
The Defence Minister added that investors require market demand; India is already one of the world’s fastest-growing markets, and numerous economic measures have been implemented to enhance market demand.
“The Reserve Bank of India has decreased the repo rate from 6.5% to 6.2%, making borrowing more accessible,” he noted.
