Karnataka CM Yediyurappa Makes High-Powered Rural Investment Pitch At Davos 2020

Karnataka Chief Minister BS Yediyurappa made a strong pitch at the World Economic Forum Annual Meeting Davos 2020, aimed at attracting investments and jobs, especially to rural Karnataka. Yediyurappa met a range of investors, entrepreneurs and corporate leaders from across the world at Davos 2020.

One of the key themes Yediyurappa focused on was job creation. He asked investors to focus their investments on farmer-oriented businesses, which would create more jobs and improve the rural economy. Yediyurappa believes that transforming the rural economy would be the bedrock of Karnataka’s economic progress. “We want new projects and investments, and our purpose is to boost the state’s economy and provide jobs for the youth to make them self-sufficient”, he explained. He added that he was ready to go the extra mile to help investors and industries that were focused on Karnataka’s farmers and rural youth.

Yediyurappa expressed keen interest in companies that could help farmers add value to farm produce.One such company that briefed the CM was 2000 Watt, a Swiss enterprise. Presenting their concept on the issue, 2000 Watt representatives said that they have the technology and are ready to invest in food clusters which can provide remunerative price for farm produce. “We will provide scientific farm techniques to grow healthy food and market them with added value,” scientist and academician Andreas Binkert explained, expressing 2000 Watt’s keenness to invest in food clusters in Karnataka. Madhav Bhagwat, the founding partner of 2000 Watt briefed the chief minister and Industries Minister Jagadish Shettar on carbon -neutral smart township development projects.

ReNew Power delegates expressed their interest in setting up solar power plants on barren lands in the state, particularly in North Karnataka districts like Vijayapura, Kalaburagi, Koppal and Raichur. “We are planning to set up power storage batteries and gadgets to store power produced in excess of the state’s demand,” Sumant Sinha, CEO of the ReNew Power said. Yediyurappa also held discussions with Hanka Angwel , President of auto major Volvo, who visited the Karnataka Pavilion at WEF, Davos.

The chief minister also made his presence felt at the WEF’s ‘Strategic Outlook: India’ session which was addressed by Union Minister Piyush Goyal. At the event, Yediyurappa explained that Karnataka has a state GDP of $250 billion and a growth rate of 9 percent. “I am delighted to know that investors have taken note of Prime Minister Narendra Modi’s vision of a $5 trillion economy,” he added.

Yediyurappa is the first chief minister of Karnataka to participate in the WEF annual meet with a full contingent of officials. Industries Minister Jagadish Shettar, Chief Secretary TM Vijay Bhaskar, IT & BT secretary V Ramana Reddy, Principal Secretary - Commerce and Industries Department , Gaurav Gupta, CM’s Secretary Selvakumar and Industries Commissioner Gunjan Krishna were other representatives from the state.

What surprised many in the delegation was the chief minister’s enthusiasm and energy in attending the series of meetings with investors and industrialists, besides participating in discussions braving minus nine degree Celsius temperature at Davos.