Bangalore: Karnataka Global Investors' Meet Kicks Off

Bangalore, Jun 7 (IANS): The second edition of the Global Investors' Meet (GIM 2012) got underway Thursday amid fanfare to promote the state as a premier investment destination in diverse sectors of the economy across the state.

Being held for the first time at the sprawling Bangalore International Exhibition Centre (BIEC) on the city's outskirts, the two-day biennial event attracted about 5,000 delegates from across the country and overseas.

Presence of doyens of the Indian industry and global majors and high-profile delegations from Japan, Mexico and Bavaria in Germany at the grand inaugural ceremony was a great relief to the state government, which has been pulling all stops to convince investors that Karnataka is one state with many opportunities to explore.

Among the captains of the industry who graced the occasion and spoke were Infosys chairman emeritus N.R. Narayana Murthy, Aditya Birla Group chairman Kumara Managalam Birla, Tata Steel vice-chairman B. Muthuraman, ONGC chairman Sudhir Vasudeva, Larsen & Toubro (L&T) chief executive K. Venkataramanan, JSW Group chairman Sajjan Jindal, and Bharat Forge chairman B.N. Kalyani.

From overseas, Japanese vice-minister of economy, trade and industry Keiro Kitagami, Bavaria's deputy prime minister Martin Zeil, General Electric (GE) India chief executive John Flannery and General Motors (GM) managing director Lowell Paddock were present.

The state government had set an ambitious target of attracting a whopping Rs.six trillion (Rs.6 lakh crore) investments as against Rs.3.92 trillion (Rs.3.92 lakh crore) investments committed in the first edition of GIM 2010, though in reality only Rs.1.27 trillion (Rs.1.27 lakh crore) materialised.

While Minister for Tourism Subodh Kant Sahai could make it to the event an hour behind schedule, the absence of other two central ministers -- M. Veerappa Moily (corporate affairs) and Virbhadra Singh (micro, small and medium enterprises) -- was conspicuous.

As part of the mega-event, the state government has also organised a three-day expo at the venue to showcase the state, its human and natural resources, pro-active industrial policies, investor-friendly incentives, land bank and infrastructure for attracting investments from global and domestic firms.

Tata Steel to Set up Rs 30,000 Crore Plant in Karnataka

Bangalore, Jun 7 (PTI): Tata Steel today announced its plans to set up a Rs 30,000 crore steel plant in Karnataka as the government-sponsored Global Investors' Meet (GIM) 2012 commenced here with the State laying a red carpet for potential investors.

The six million tonnes per annum capacity plant would come up up Haveri district, the company's Vice-Chairman, B Muthuraman, said at the inauguration function.

CMD of Aditya Birla Group, Kumar Mangalam Birla said the Group proposed to invest Rs 7,000 crore in the State, including for setting up a four million tonne per annum capacity cement plant at a cost of Rs 2,750 crore.

Karnataka Government officials said before the event that the State aims to sign MoUs envisaging an investment of Rs six lakh crore during the GIM being held to showcase the State's investment potential.

At the inauguration, Chief Minister D V Sadananda Gowda said during the GIM 2010 the State signed 389 MoUs with (envisaged) investments amounting to Rs 3.92 lakh crore, of which more than 72 per cent of the projects are in various stages of implementation.

Protests Against GIM by Farmers, Activists of Praja Pragati Ranga

From Our Special Correpondent
Daijiworld Media Network - Bangalore

Bangalore, Jun 7: Acitivists of Praja Pragati Ranga led by Kodihalli Chandrashekhar, President of Rajya Raitha Sangha, Social Democratic Party of India State President Abdul Majeed and C S Dwarkanath, Former Chairman of Backward classes commission, staged a protest in front of the Bangalore International Exhibition Centre (BIEC), the venue of the Global Investors Meet on Thursday.

Praja Pragati Ranga’s plans to to storm the GIM venue and stop the ongoing meeting were foiled by the police, who did not allow the protestors to cross the road to enter the venue.

A large crowd of farmers and activists peacefully staged their protests and were taken into preventive custody by the police. The police had to transport the activists away from the venue in many buses.

Addressing the protestors, Kodihalli Chandrashekhar declared that farmers will not allow injustice in the name of development. ''We are not against development. We are against our land being stolen and farmers not getting reservation in jobs generated by industrialization on the same land,” he said

He said Large and Medium Industries Minister Murugesh Nirani, who owns a sugar factory and has not cleared the dues of his factory to the sugar cane farmers for the sugarcane procured by his sugar factory, had no right to talk about justice to the farmers."

C S Dwarkanath said the GIM was just of way of legalising the ''illegal wealth created by the land scams.”

''We will not allow an inch of land to be given as no employment is generated as promised by the earlier GIMs. When the promises of the earlier GIMs have not been fulfilled what is the use of another GIM?,” he asked.

Abdul Majeed of SDPI said the BJP led government has been completely neglecting the farmers. The government started off by commanding the police to open fire and killing innocent farmers for demanding justice. The government has never stood for the justice. Scams have become the order of the day for BJP.

''Land scams and illegal mining have sent many ministers to jail including former chief minister B S Yediyurappa,” he said.