BANGALORE: Karnataka ranks second as the top investment destination in the country after Gujarat, according to a study conducted by the Associated Chambers of Commerce and Industry in India (ASSOCHAM).With 1,528 projects worth `9.1 lakh crore underway, Karnataka comes a close second to Gujarat, which has 1,455 projects worth `13.35 lakh crore underway, said officials of the industry body.The projects are in various stages of implementation, according to the study, titled Karnataka — Next Growth Leader in the Making, unveiled here on Thursday.Nearly 44 per cent of the projects in Karnataka are in the manufacturing sector, followed by 22.4 per cent in services, 15 per cent in power, and about 14 per cent in real estate.The study was jointly released by ASSOCHAM president, Dilip Modi, cochairman of Southern Regional Chapter, J Crasta and secretary general, D S Rawat.“We appreciate the efforts made by current leadership to realise the growth potential,” Modi said. “ASSOCHAM believes that Karnataka needs to build further on its present strength”.The study said that Karnataka must reduce unproductive subsidies and capitalise on existing sectoral capacities. It also called for special focus on micro, small and medium enterprises.
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