Industries Minister takes steps to boost Karnataka’s exports to $100 billion

Bengaluru: Large and Medium Industries Minister MB Patil convened a second round of discussions with officials and leading industrialists on Tuesday regarding ‘Utpadana Manthana’, a two-day event scheduled for the end of April.

The initiative aims to transform Karnataka into a global manufacturing hub.

“Our target is to increase the state’s industrial exports to $100 billion annually from the current $27 billion. In today’s meeting, we discussed the policies that need to be implemented and the changes required at the Central government level to achieve this goal,” the Minister stated.

He further emphasised that the state’s industrial sector was currently dominated by service-oriented activities. “Priority should also be given to domestic manufacturing,” he said.

Highlighting that several startups have an annual turnover of ₹250 crore, the Minister stated that startups should be given up to 30 percent representation as participants in the event.

The Minister also noted that companies operating in the manufacturing sector from neighbouring states will be invited to participate in the event. Deliberations are underway on the measures needed to attract these companies to invest in Karnataka, he stated.

Aravind Mellagatti, Head of Aequs, highlighted that while Karnataka is a leading steel producer, it still lacks the superior quality required for manufacturing aircraft engines.

“For such high-end production, we remain dependent on other countries. To achieve self-sufficiency, we must strive to match the quality standards of Western nations,” he opined.

Prashanth Prakash, Head of the Startup Vision Group, shared insights into the industrial scenario in advanced economies.