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Union Minister for Heavy Industries and Steel HD Kumaraswamy on Sunday (local time) urged Kannada entrepreneurs and Indian professionals based abroad to bring their technological expertise and global experience back to India, leverage government incentives and build enterprises that generate employment.
Addressing the Business Forum - 2026, organised as part of the AKKA Silver Jubilee Conference in Philadelphia, Kumaraswamy said India's economy is on a strong growth trajectory under Prime Minister Narendra Modi and offers significant opportunities for investment, entrepreneurship and technology-driven businesses. Bring your technological knowledge and experience back to India and use it to build enterprises. Do not remain merely job seekers; become job creators. Your experience and expertise can help create new opportunities while contributing to Indias development, Kumaraswamy said. The Union Minister particularly called upon Indians, including Kannadigas living in the US and other countries, to use their professional experience and knowledge to contribute to India's economic development and establish businesses in the country. He said the government is creating a wide range of opportunities and incentives for entrepreneurs and young people as India advances rapidly in entrepreneurship, technology and innovation. Kumaraswamy also highlighted the changing global economic landscape, saying it is opening up opportunities for new enterprises, innovative ideas and technology-led businesses. He encouraged young entrepreneurs to identify emerging opportunities and pursue them with confidence. Referring to India's development roadmap, the Union Minister said the country is working towards Prime Minister Narendra Modi's vision of a Viksit Bharat by 2047 through initiatives including Atmanirbhar Bharat and Make in India. I am entrusted with two important portfolios in Prime Minister Narendra Modis Cabinet. Heavy Industries and Steel are critical pillars of Indias economic and industrial development. Both sectors are placing strong emphasis on technology, manufacturing and innovation, he said. Highlighting key initiatives under the Heavy Industries portfolio, Kumaraswamy spoke about the government's efforts to accelerate clean mobility and strengthen India's manufacturing capabilities. He highlighted the Rs 10,900-crore PM E-DRIVE scheme aimed at promoting electric mobility and reducing emissions from transportation. Electric two-wheelers, trucks and buses, he said, are increasingly becoming part of India's mobility landscape. He also pointed to the Production Linked Incentive scheme for the automotive sector, with an outlay of Rs 25,938 crore, aimed at strengthening domestic manufacturing and advancing self-reliance. Under the Advanced Chemistry Cell (ACC) Battery Programme, projects involving an outlay of Rs 18,100 crore are being pursued to establish 50 GWh of domestic battery manufacturing capacity, Kumaraswamy said. He further highlighted the Rs 7,280-crore programme focused on developing domestic capabilities for the exploration, processing and production of critical minerals, which are important for emerging technologies and advanced manufacturing. On the steel sector, Kumaraswamy said India is witnessing rapid growth and transformation and has set an ambitious target of producing 300 million tonnes of steel domestically by 2030. The country is simultaneously working towards achieving net-zero carbon emissions in steel production by 2070, he said, adding that a Rs 6,322-crore Production Linked Incentive scheme has been implemented to further strengthen domestic steel manufacturing. Kumaraswamy noted that India is already the world's second-largest steel producer and a major consumer of the metal, underscoring the scale of opportunities available across the sector. He said the developments across automotive manufacturing, clean mobility, batteries, critical minerals and steel demonstrate the breadth of India's investment and enterprise opportunities. The Business Forum witnessed discussions on India's economic and business opportunities and ways to deepen India-US collaboration in investment, technology and professional engagement. AKKA leaders Amarnath Gowda and Madhu Rangayya, former Rajya Sabha MP Kupendra Reddy, Deputy Consul General of India in the United States Vishal Harsh and other dignitaries were also present. Entrepreneurs, professionals, technology experts and representatives from various sectors participated in the forum and exchanged views on expanding business, investment, technology and professional linkages between India and the United States. (ANI)
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