Bengaluru will become economic capital in five years, says Basavaraj Bommai


Karnataka chief minister Basavaraj Bommai said on Friday that Bengaluru would vault to become the economic capital of India over the next five years, extending its strength as the country’s technology capital.

The chief minister highlighted Bengaluru’s strengths in different spheres of the economy while speaking at the valedictory session of the Bengaluru Tech Summit, where he also honoured unicorns.

“Thoughts meet technology, action meets goals, development meets due diligence, entrepreneurship meets leadership, success meets sustainability, culture meets cosmopolitanism, friendship meets relationship. Bengaluru meets ‘Bangalore’ which means ‘bangaarada ooru’, or Golden City,” he said.

Karnataka is in the pole position in the startup sector and has also attracted the highest foreign direct investment, the CM said. Under the government’s ambitious ‘Beyond Bengaluru’ initiative, other parts of the state are also attracting industrial investments and witnessing progress, he said.
Bommai said Karnataka had scored high in all sectors including agriculture, technology and economy, and the challenge now was to sustain this growth in future too. “This has increased our responsibility,” he added.

“Well begun is half done. In keeping with this spirit, let all technological innovation lead to better life for mankind, better society and all-round growth. Let all scientists work incessantly to achieve these noble goals,” he said.

It was the self-confidence with which the government had been working that had turned the tech summit a huge success. The success, however, would be meaningful only if entrepreneurs meet with success in their ventures, the CM said.

Speaking at the event, Karnataka IT/BT minister CN Ashwath Narayan announced five broad goals and pledged to work on them.

The government will build an exclusive startup park near the international airport, set up state-of-the-art R&D labs in 50 institutions of higher learning and science & technology research centres in universities, and work towards building a strong partnership between academic institutions and industries and also between academic institutions and R&D centres, he said.

The minister released the declaration document in the presence of Bommai and union industries minister Piyush Goyal.

Narayan termed the three-day event as a huge success as it had seen participation from 32 countries, attracting about 4,52,000 visitors, including online.

The event reached about 49.9 million people through all forms of media, including about 26,000 delegates actively participating and about 50,000 people visiting stalls. It saw the signing of 12 memorandums of understanding and the launch of 28 products.


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