Bangalore: Tourism Sector Attracts Rs 35,000 Cr Investment at GIM
From Our Special Correspondent
Daijiworld Media Network - Bangalore
Bangalore, Jun 8: Tourism sector has attracted Rs 35,000 crore investment in different parts of Karnataka in the ongoing Global Investors Meet.
Karantaka Tourism Department Principle Secretary Latha Krishna Rau said a lot of investors were showing keen interest in investing at Hampi, a UNESCO World Heritage Centre.
“Hyatt Hotels and Resorts is setting up a five-star hotel at Hampi. Orange County, Somateeram and Windflower are setting up resorts around heritage spots like Pattadakal, Aihole, Belur, Bijapur, Jog, Mysore and Anekal,” she said addressing a session organised as part of GIM 2012.
Investors also have evinced interest in providing tourism related facilities at Pattadakal and Bijapur.
The tourism sector has attracted Rs 35,000 crore investment proposals, she said pointing out that the department was focusing more on promoting tourism in Tier II and III cities to set up facilities for tourists.
“Whatever Expression of Interest or MoUs we have signed is not for just for setting up facilities in Bangalore,” she said adding: ''We have moved away from the state capital and are promoting tourism in Tier II and Tier III cities for setting up facilities for tourists.”
In addition, land has been offered for tourism projects at various places like Hampi, Pattadakal, Aihole, Belur, Bijapur, Jog, Mysore and Anekal, Latha said.
The department also is offering investors provide water sports facilities on 2,000 acres of water bodies, Latha said.
Karnataka ranks fourth among states as a popular tourist destination, she said.
Tourist inflow has increased by 236 per cent from 25.2 million in 2005 to 84.6 million in 2011, she claimed.
As much as 63 per cent increase is anticipated in foreign exchange earnings from USD 104.1 million in 2010 to USD 169.5 million in 2020, Latha said.
Moreover, the State Government is offering many incentives for investors to promote tourism development, Latha said, adding as many as 100 locations have been identified to implement liberalised land policy for tourism projects.
Government had also granted 50 per cent and 75 per cent on stamp duty exemption for investments below and above USD 10 million, she said.
Karnataka exceeds investment target, hits Rs.9-trillion mark
Bangalore, Jun 8 (IANS): It is raining trillions (crores) of rupees in Karnataka at its second Global Investors' Meet (GIM 2012) even though the advancing south-west monsoon is yet to hit this tech hub.
"We have received investment proposals worth a whopping Rs.7.6 trillion (Rs.7.6-lakh crore) from 730 global and Indian firms, exceeding the modest target of Rs.6 trillion (Rs.6 lakh crore) set for the second edition of GIM," state Chief Secretary S.V. Ranganath announced at the valedictory function of the two-day mega event here.
In addition, the state government has signed registration of interest for basic infrastructure projects in the state to the tune of Rs.1.68 trillion (Rs.1.68 lakh crore).
The proposed investments and projects in 20 diverse sectors are projected to create about 1.5 million direct jobs to the people, including youth and women.
"A dozen state-run, private and foreign banks have also signed an agreement with the state government to provide Rs.3 trillion (Rs.3 lakh crore) as term loans and working capital to the firms investing across the state in the diverse sectors," an elated Ranganath told about 1,000 delegates present on the occasion.
Of the 20 sectors, about 40 percent of the total investment will be in energy alone for setting up power projects, followed by iron and steel 15.3 percent, cement 6.3 percent, IT & electronics 6.3 percent, industrial infrastructure 6.2 percent, chemical and petrochemicals 5.5 percent and housing & urban development 4.4 percent.
"The sunrise micro, small and medium enterprises (MSME) sector has for the first time attracted investment proposals worth Rs.35,000 crore (Rs.350 billion)," Ranganath asserted.
Among the 30 districts across the state, Bangalore urban and rural districts will account for 19.2 percent of the total investments and projects, followed by Chickballapur and Haveri four percent each.
In this context, state-run Housing & Urban Development Corporation (HUDCO) chairman V.P. Baligar said the state government would have to invest a whopping Rs.1 trillion (Rs.1 lakh crore) to create the required infrastructure, including housing for providing an enabling environment and an eco-system for the prospective investors.
"For the Rs.9.2 trillion investments coming into the state, with prospects of creating 1.5 million jobs over the next five years, the state will have to have concurrently invest in basic infrastructure across urban and industrial areas and housing," Baligar, an IAS officer from the state cadre, exhorted.