Infosys co-founder says tier II and III cities can attract investments and transform into cosmopolitan hubs
Mysore/Mysuru: In a recent media interview, Infosys co-founder Kris Gopalakrishnan highlighted the need for the Karnataka Government to focus on the development of cities beyond Bengaluru, particularly Mysuru and Hubballi-Dharwad, to attract more foreign investments. With such a move, Karnataka could secure its position as a global investment hub, fostering economic growth and resilience against international economic uncertainties, he said.
Gopalakrishnan underlined the significance of diversifying investment opportunities to ensure resilience against global economic fluctuations. He acknowledged that the State’s economy is intricately tied to the global market, with approximately 90 percent of the IT industry’s revenue originating from outside India.
“Karnataka needs to proactively cultivate emerging technologies and create favourable policies to foster their growth,” he said. The Infosys co-founder also discussed the potential impact of the ‘China Plus One’ policy on manufacturing and suggested that developing tier II and III cities like Mysuru and Hubballi-Dharwad could be a strategic move.
Regarding the potential of cities like Mysuru and Hubballi-Dharwad, Gopalakrishnan lauded the ‘Beyond Bengaluru’ initiative launched by the State Government. He noted that this initiative has already borne fruit, with numerous companies committing to establish their presence beyond Bengaluru.
He stressed the importance of providing essential infrastructure, international connectivity and a high-quality of life in these cities to attract investments and transform them into cosmopolitan hubs.
While acknowledging the rapid growth of Bengaluru, Gopalakrishnan emphasised the need for improved infrastructure and enhanced quality of life to attract investments to other parts of the State like Mysuru, Hubballi and Dharwad.
He also urged the Government to establish conducive policies and incentives for emerging technologies, considering them both an opportunity and a challenge. Reskilling the workforce to keep pace with technological advancements must be listed as a priority for the region’s sustainable development, he opined. [Courtesy: DH]
This post was published on August 19, 2023 7:37 pm