Union minister Piyush Goyal speaks at Invest Karnataka 2025 - key highlights

Union minister Piyush Goyal speaks at Invest Karnataka 2025

Union Minister of Commerce & Industry Piyush Goyal, along with Karnataka's Deputy Chief Minister DK Shivakumar and Industries Minister MB Patil, addressed the Invest Karnataka 2025 event on Wednesday, highlighting Karnataka's crucial role in India's development.

Goyal praised Karnataka for its prominent participation in the Global Investor Meet, noting that under Prime Minister Narendra Modi's leadership, the last decade has focused on combining tradition with development.

He stressed that the collective goal during this Amrut Kaal is to create a prosperous and developed nation, aiming for a 'Viksit Bharat' (Developed India).

Goyal pointed out that India’s youthful population will play a vital role in driving substantial economic growth over the next 30 years, with the nation expected to add $30 trillion to its GDP, growing from its current $4 trillion economy.

He also stressed the importance of collaboration between the central and state governments, pointing out that India’s growth is intrinsically linked to the prosperity of its states.

Goyal also revealed plans for the development of a smart city in Tumkuru, covering 8,000-9,000 acres, with Phase 1 expected to be completed by the end of next year.

Additionally, he voiced support for Karnataka's tourism industry, highlighting Hampi's potential for development and the promotion of tourism across the state.

Acknowledging Karnataka’s contributions, Goyal commended the state’s role in boosting exports to $800 billion and in the expansion of airports, with more than 70 additional airports under development.

He also highlighted Karnataka's leadership in emerging sectors like AI, biotech, and future industries such as electric vehicles and semiconductor manufacturing.

He reiterated that technology should drive the growth narrative of Karnataka, stressing that it must serve as the foundation for the future growth of both Karnataka and India.