Bangalore: Karnataka Hopes to Mop up Rs 5 Lac Cr Investment at GIM 2012

From Our Special Correspondent
Daijiworld Media Network - Bangalore

Bangalore, May 29: Karnataka is fully geared and all set to host the Global Investors Meet 2012, the second mega event after the ruling BJP came to power in the 2008 assembly polls, Large and Medium Industries Minister Murugesh R Nirani told reporters in Bangalore on Tuesday.

Briefing reporters after a meeting held under the chairmanship of Chief Minister D V Sadananda Gowda for reviewing the arrangements for GIM 2012, the minister said the State Government is confident of mobilising investment to the tune of Rs 5 lac crore.

As many as 12 technical seminars are proposed to be held during the two-day meet beginning at the Bangalore International Exhibition Centre on June 6.

Engineering, aerospace, textiles, industrial and transport infrastructure facilities, housing and urban development, tourism, power generation and transmission, biotechnology and pharmaceuticals are among the subjects which will be discussed during the technical seminars, the minister said.

Ernest Organisation has been appointed as the knowledge partner for assisting in organising the technical sessions while M M Active will be the event manager for the two-day extravaganza.

The minister said leading industrialists and representatives of multi-national corporations from Germany, Mexico, Italy and many other countries were expected to participate in the GIM 2012.

A total of 50 conference halls have been prepared for the benefit of the participants, he said pointing out that leading industry and trade bodies like IIC and FKCCI will be assisting the State Government as co-hosts rather than being mere participants.

The minister said 18 nationalised banks have come forward to participate in the GIM 2012 and have offered to invest a whopping total of Rs 2 lac crore under 40 different projects. 

As a special measure to encourage rapid industrial development in the north Karnataka region, Nirani said the State Government will be offering a special incentive package for such industrial undertakings.

Answering questions from reporters, he said memoranda of undertakings (MoUs) had been signed for a total investment of Rs 3.98 lac last year and 60 per cent of the projects were under different stages of implementation.

The companies which have come forward to sign MoUs have already paid Rs 1200 crore to the Karnataka Industrial Area Development Authority towards the projects, he said.

Urban Development, Law and Parliamentary Affairs Minister S Suresh Kumar and Textiles Minister Varthur Prakash, Chief Secretary S V Ranganath, Chief Minister’s Principal Secretary I S N Prasad and other senior officials participated in the meeting.