Karnataka Aims for $100 Billion Industrial Export Boost

Karnataka's Minister of Industries, M B Patil, revealed plans to elevate the state's annual industrial exports from USD 27 billion to USD 100 billion. He discussed necessary policy changes and highlighted the importance of domestic manufacturing and the inclusion of startups in upcoming plans.

Karnataka is setting ambitious goals to enhance its industrial export capabilities significantly. The state's Minister for Large and Medium Industries, M B Patil, announced intentions to raise industrial exports to USD 100 billion from the current USD 27 billion during a high-level meeting.

The announcement was made in anticipation of the 'Utpadana Manthana' event, targeting Karnataka's transformation into a key global manufacturing hub. Patil emphasized policy changes needed at both the state and central government levels to achieve these goals.

Patil also pointed out the need for prioritizing domestic manufacturing over service-oriented sectors. Furthermore, initiatives to involve startups, particularly those with impressive turnovers, and attracting manufacturing firms from neighboring states, were discussed as essential strategies to meet the new export targets.

(With inputs from agencies.)