98000cr worth MOU signed for Investment in Karnataka in the 3 day ASEAN summit

Bengaluru, 27th February, 2019: After the incredibly successful two days of ASEAN Business Meet 2019 held at The Lalit Ashok, Bengaluru, the final day of the Summit witnessed over 2000+ delegates and more than 2500 visitors. During these 3 days about 18 MOUs worth 98000 crores were signed between various countries and India in the areas of renewable energy, chemicals, pharma, manufacturing, constructions and others.

The final day of the ASEAN Business Meet organized by the Federation of Karnataka Chambers of Commerce & Industry in collaboration with Asean Indian Business Council and Indo Srilanka Chamber of Commerce and Industry saw its closure with around 28 speacial programmes organized in varous sectors of the industry.

Shri. Gaurav Gupta, IAS, Principal Secretary, Department of IT, BT & S&T and Department of Commerce & Industries, Government of Karnataka said, “The future is in India, the future is in Karnataka, the future is right now.” He further added that, “Karnataka is a powerhouse of innovation in India. It has the 4th largest skilled workforce and Bengaluru has been ranked as the ‘Most Dynamic City’ and ‘No. 1 Digital City’ in the world.


At the valedictory ceremony, Mr. Sudhakar Shetty, President, FKCCI said, “We are overwhelmed by the response that we have received for this Summit. This only strengthens our belief that there is an immense opportunity for India and ASEAN and ASEAN Plus countries to improve trade relations and people to people contact.”


Distinguished Guest of Honour, Shri. K. J. George, Hon’ble Minister for Large & Medium Scale Industries, Government of Karnataka said, “During the Summit, objectives were achieved in positioning Karnataka as a major state for investments and trade. Our efforts will continue to provide an ideal platform to make Karnataka a gateway for promoting the products, building successful partnerships and networking with leading companies and investors. We need to create better prospects to our young people and for which we should provide necessary skill development and also provide the dignity of labour to them.”

On investment activities the minister said “We should not only expect investment in karnataka, but also encourage our local businessmen to go and invest in these countries. Only then there shall be a harmonious business growth which is good for both countries.”

The event was graced by honourable ministers from malaysia and laos, ambassadors, high commissioners and honorary consuls of various countries from ASEAN and Africa Regions.


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