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Updated: May 12, 2012 09:13 IST

Political affairs may have a minor impact on investors' meet: Nirani

Special Correspondent
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Large and Medium Industries Minister Murugesh Nirani
Large and Medium Industries Minister Murugesh Nirani

But investment targets will not be affected, says Minister

Large and Medium Industries Minister Murugesh Nirani on Friday admitted that the prevailing political affairs in the State may have a “minor impact” on the proposed global investors' meet to be held in Bangalore on June 7 and 8.

The political affairs will not have any major impact on the investments as investors make investments on the basis of benefits they get and not on the basis of which government is running the show. “But I have to admit that this will have a small impact,” Mr. Nirani said while addressing a meet-the-press programme organised by the Bangalore Reporters' Guild here.

However, he hastened to add that such a situation will not come in the way of meeting the target of getting investments of Rs. 5 lakh crore from the investors' meet. “What I meant was that (due to the prevailing political condition) we may not have met all the investors one-on-one. But that will not be a problem,” he said.

Supporting his argument, he pointed out that a recent World Bank study had recognised Karnataka as the number-one investment-friendly State in India.

Also ASSOCHAM Investment Meter of 2010 had ranked Karnataka as the most preferred destination among India's top 20 States, Mr. Nirani said.

He said that the proposed investors' meet would result in creating employment opportunity for 10 lakh persons. This time, the government would give priority to industrial development in tier 2 and tier 3 cities by showcasing investment opportunities in 14 sectors.

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