Karnataka makes a significant contribution to the country’s GDP, yet the State’s economic engine has not been geographically balanced, said N. Venu, MD & CEO, India & South Asia, Hitachi Energy.
Speaking at the Confederation of Indian Industry (CII) Karnataka annual day here, Mr. Venu, who was appointed as the new chairman, CII Karnataka, on Friday, said the State contributed 8% of the GDP of the entire country and its contribution has been growing by 9.3% CAGR.
“Despite Karnataka’s significant growth and contribution to the GDP, its economic engine has not been geographically balanced, and the lion’s share of growth still comes from Bengaluru and the rest of the State is yet to meaningfully contribute to economic growth,” he said.
CII Karnataka released ‘Karnataka@100’, a vision document for 2047, focused on a road map to create an enabling ecosystem and robust policy framework that would strengthen the economy of the State, said Mr. Venu, who has been leading Hitachi Energy in India since its formation in 2019.
Other new office-bearers of CII Karnataka include Rabindra Srikantan, founder and managing director, ASM Technologies, who will serve as the vice-chairman.
