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K'taka rated India's most attractive state for investment,3rd time in a row

K'taka rated India's most attractive state for investment,3rd time in a row

SC SA   ¦    Oct 12, 2018 01:09:49 PM (IST)

K\'taka rated India\'s most attractive state for investment,3rd time in a row-1Bengaluru: Karnataka has, for the third time, been named the best state in India for investors according to the statics published by the Department of Industrial Policy and Promotion. The report also showed a significant gap between Karnataka and the state coming second.

According to the report, the state managed to pull in potential investment or Industrial Entrepreneur Memorandum (IEM) of at least Rs 79,866 crore till August of this year, which is at least 60% more than Gujarat.

In response to the report, K J George, Karnataka's Minister for Large and Small Scale Industries, has said that the government will continue to ensure that the state remains the top destination for investment in the country and also generate a large number of jobs in the process.

The state has consistently been rising in ranks since 2013, when it was placed 11th on the list, jumping to the 4th place in 2014 and the 5th in 2015 prior to topping the charts in 2016 and 2017.