Karnataka expects Rs 3,00,000 crore investment from Global Investors Meet
From Our Special Correspondent
Daijiworld Media Network
BANGALORE, MAY 19: With preparations for the two-day Global Investors’ Meet, being held at the sprawling Bangalore Palace Grounds, going on in full swing, Karnataka’s major and medium industries minister Murugesh Nirani is confident of netting an investment of at least Rs 3,00,000 crore from leading Indian and foreign multi-national companies.
Nirani, who held a review meeting with state’s principal secretary for industries department V P Baligar and other senior officials on the arrangements being made for the ambitious global investors’ meet, said the state government was fully geared to host the event in a grand manner and impress the large number of domestic and foreign representatives.
"If our present expectations of mopping up the largest ever corpus of investments materialise,” the minister said the state government was hopeful of being able to provide direct employment opportunities to at least 3 lakh persons. ``The spin-off effects arising out of the investments through ancilliary units and other facilities will be enormous,” he predicted.
The minister said several bilateral agreements and memorandum of understanding were expected to be signed during the global investors meet.
Global steel giants like Arcelor Mittal, the Tata Group of Companies, Birla Group of Companies, J K Tyres, Videocon, Jindal, Toyota Kirloskars and UB Group would be respresented at the Global Investors’ Meet, the minister said pointing out that representatives of leading financial institutions and banks would also be participating.
Nirani said the State Government has identified 65,000 acres of land in different districts for the new units. ``We are keen to ensure balanced development of the state and encourage investors to move to backward regions,” he explained.