‘Karnataka GDP may cross Rs 35 lakh crore in five years’

Karnataka’s GDP is expected to touch Rs 35 lakh crore in the next five years, Deputy Chief Minister C N Ashwath Narayan said on Sunday. Narayan was virtually addressing the ‘Feature Karnataka Summit 2020’ organised by Sphere Travelmedia & Exhibitions.

The state’s GDP is about Rs 18 lakh crore currently. ‘It is growing sustainably amidst many challenges such as Covid-19,’ Narayan, the IT/BT Minister, said.The state government has taken various measures to strengthen agriculture, IT/BT, industries, services sector among other core areas. ‘To augment the development of industry and commerce, the government will create an industrial corridor in the stretch between Mysuru and Bidar on the lines of Bengaluru-Chennai and Bengaluru-Mumbai corridors,’ he said.

He further pointed out that different government departments were integrated under a single-window system for industries to get all required permits in one place. ‘States such as Gujarat and Rajasthan have this system only for small industries. But, our state has gone a step forward and extended this to heavy industries also,’ Narayan said.