Bengaluru, June 20 : Karnataka Chief Minister Siddaramaiah announced on Wednesday that the state government aims to achieve an annual industrial growth rate of 15-16 per cent to reach a $1 trillion economy by 2032.

Addressing a curtain-raiser event for the upcoming Global Investor Meet 'Invest Karnataka 2025' scheduled to be held in February next year, Siddaramaiah said that over the last decade, the state has posted a growth of 9.3 per cent.

"The government's vision extends beyond the urban centers, intending to spread industries to rural regions, particularly Kalyana Karnataka, through focused cluster development initiatives," Siddaramaiah said.

Stating that Karnataka seeks to showcase its technological prowess and manufacturing excellence through the Global Investor Meet, the Chief Minister said, "We aspire to position Karnataka on the global stage as a leading player in the global supply chain."

At the event, state Large and Medium Industries Minister M.B. Patil launched the 'ventuRISE 2025' and announced that a new Karnataka Industrial Policy 2025-2030 is being drafted to include the best-in-class incentives to ensure competitiveness in attracting investors.

"The theme of this edition, 'Reimagining Growth', reflects the role Karnataka wishes to play in promoting growth that is tech-driven, green, inclusive, and resilient," Patil said.

In the run-up to the grand event, various high-level meetings, events, roadshows, and other programmes will be organised.

The highlights include the first edition of SME Connect '25, the second edition of VentuRISE - Global Startup Challenge and Startup Conclave, and the Future of Innovation exhibition, Patil said.

There will be a series of global roadshows to introduce Karnataka's manufacturing ecosystem to international companies and visits to foreign nations to invite industry leaders for the Global Investor Meet.

These visits include a trip to Japan from June 24 to 28, covering Tokyo, Nagoya, and Osaka, followed by a visit to South Korea from July 1 to 5, covering Seoul, Incheon, and the Gyeonggi area, Patil said.

/IANS