Prime Minister Narendra Modi at a public function, in Bengaluru, Karnataka on November 11, 2022.
Prime Minister Narendra Modi at a public function, in Bengaluru, Karnataka on November 11, 2022.

Karnataka led the way by attracting Rs 4 lakh crore FDI in the pandemic year, says Modi

Bengaluru, November 11, 2022

Prime Minister Narendra Modi today said Karnataka led the way in attracting foreign direct investment (FDI) of Rs 4 lakh crore last year when the world was struggling with the COVID-19 pandemic.

The Prime Minister was speaking at a public function in Bengaluru. Earlier in the day, he paid floral tributes at the statues of saint poet Sri Kanaka Dasa and Maharshi Valmiki at the Vidhana Soudha. He also flagged off the Vande Bharat Express and Bharat Gaurav Kashi Darshan Train at KSR Railway Station.

This was followed by the inauguration of Terminal 2 of Kempegowda International Airport, Bengaluru and the unveiling of a 108-metre-long bronze statue of Sri Nadaprabhu Kempegowda.

“Last year, Karnataka led the way in attracting foreign direct investment in the country. This investment is not only limited to the IT sector but ranges from biotechnology to defence,” he said.

Karnataka has a 25% share in the aircraft and spacecraft industry of India. Approximately 70% of aircraft and helicopters for India’s defence are manufactured in the State. More than 400 companies from the Fortune 500 list were in Karnataka, he added,

The Prime Minister said he was delighted to be present on the occasion of the "jayanti" of two great personalities of Karnataka and paid tributes to Sant Kanaka Das and Onake Obavva.

Today Karnataka got the first "Made in India" Vande Bharat Express train that connects Chennai, startup capital Bengaluru and the heritage city Mysuru, he said.

“Today, the Bharat Gaurav Kashi Darshan train, which will enable Ayodhya, Kashi and Prayagraj Darshan for the people of Karnataka, was also launched,” he said.

Speaking about the Terminal 2 of Kemepgowda International Airport in Bengaluru, he said the infrastructure was more beautiful and magnificent than the pictures shared yesterday. About the monumental statue of Nadaprabhu Kemepegowda, he said it will act as an inspiration to Bengaluru and India of the future.

“Bengaluru is a representation of the startup spirit of India and it is this spirit that makes the country stand out from the rest of the world," he said.

“Vande Bharat Express is a symbol that India has now left the days of stagnation behind. We are moving with a goal for the total transformation of India Railways.

“More than 400 Vande Bharat trains and Vista Dome coaches are becoming the new identity of Indian Railways. Dedicated freight corridors will increase the speed of freight transportation and save time. Rapid broad gauge conversion is bringing new areas to the railway map,” he added.

Talking about the modernisation of railway stations, he said Sir M. Visvesvaraya Terminal, Bengaluru railway station was providing a much-enhanced experience to the commuters. Other stations, including several in Karnataka, were being taken up for upgradation, he added.

On the vision of a developed India, the Prime Minister said that connectivity between cities would play a crucial role and it was also the need of the hour. The new Terminal 2 of Kemepegowda Airport will add new facilities and services to boost connectivity.

India was one of the fastest-growing markets in the world when it comes to air travel and the number of passengers travelling by air was also growing rapidly. There were only 70 airports in the country before 2014 but today this number has doubled to more than 140. “Airports are creating a new playing field for the expansion of businesses while also creating new employment opportunities for the youth of the nation,” he said.

“Be it governance or the growth of physical and digital infrastructure, India is working on a completely different level," he said.

Giving examples of BHIM UPI and Made in India 5G technology, the Prime Minister said it was the professionals of Bengaluru that have turned this distant dream into a reality. Such positive changes were beyond imagination before 2014 as the thought process of the previous government was outdated. “The previous governments considered speed as a luxury and scale as a risk. Our government has changed this trend. We consider speed as the aspiration and scale as the power of India.”

Throwing light on PM Gatishakti Master Plan, Modi said the government made efforts to bring all the departments and agencies on a single platform. As a result, more than 15,000 layers of data are being made available to the different agencies.

Several ministries of Central and State Governments along with dozens of departments were coming together with the help of this platform. “Today, India is working towards the objective of Rs 110 lakh crores in the infrastructure investment pipeline.

“Emphasis is laid on the multimodal infrastructure so that every medium of transport supports the other,” he added.

Speaking about the National Logistics Policy, the Prime Minister said it will help in reducing the cost of transportation while also bringing in innovations.

On improving the social infrastructure he said of the 3.4 crore "pucca" houses being built for the poor in the country, 8 lakh were in Karnataka. Of the 7 crore households receiving piped water connection, 30 lakh were in Karnataka. Of the 4 crore patients receiving free treatment under Ayushman Bharat, 30 lakh were in Karnataka. Rs 2.5 lakh have been transferred into the account of more than 10 crore farmers of the country, and Rs 11,000 crores to 55 lakh farmers in Karnataka. Of the 40 lakh street vendors receiving assistance under SVAnidhi, 2 lakh were in Karnataka, he said.

Modi said the Bharat Gaurav trains are connecting places of faith and spirituality and at the same time strengthening the spirit of "Ek Bharat Shreshtha Bharat".

“Be it Shirdi Temple, Shri Ramayana Yatra, Divya Kashi Yatra, all such trains have been a very pleasant experience for the passengers,” he said.

On the importance of coarse grains, he said it was highlighted by Kanak Das in his composition Ram Dhanya Charite. It conveys the message of social equality like the popularity of the millet "ragi" in Karnataka.

Throwing light on the contributions of Nadaprabhu Kempegowda in enriching the culture of Bangalore, the Prime Minister gave examples of the famous Gavi Gangadhareshwar temple and the temple in the Basavanagudi area. “Through these, Kempegowda Ji has kept the cultural consciousness of Bangalore alive forever,” he said.

The 108-metre-tall bronze statue was to commemorate the contribution of Nadaprabhu Kempegowda, the founder of the city. Conceptualised and sculpted by Ram V Sutar of the Statue of Unity fame, 98 tonnes of bronze and 120 tonnes of steel have been used to sculpt the statue.

Karnataka Chief Minister Basavaraj Bommai, Governor Thawar Chand Gehlot, former Chief Minister B S Yediyurappa, Union Ministers Prahlad Joshi and Ashwini Vaishnaw were among those present.


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