Karnataka

Karnataka's mega investor fest from today

Bangalore: 02/06/2009. Venue of Global Investors Meet at Palace Grounds in Bangalore on 2nd JUNE, 2010. Photo: Bhagya Prakash K.

Bangalore: 02/06/2009. Venue of Global Investors Meet at Palace Grounds in Bangalore on 2nd JUNE, 2010. Photo: Bhagya Prakash K.   | Photo Credit: K_Bhagya Prakash

Global Investors Meet is expected to attract over 4,500 investor-delegates

All roads will lead to the Bangalore Palace Grounds here on Thursday as Karnataka's biggest investor festival, the Global Investors Meet, gets under way. The two-day event, hosted by the State government, is expected to attract more than 4,500 investor-delegates from India and several other countries.

The total volume of investments that is expected to flow into the State is around Rs. 5-lakh crore, according to Chief Minister B.S. Yeddyurappa.

In other words, the amount of fresh investment expected is about twice as large as the entire economy of the State. Asked if such a huge quantum of investments was “realistic,” Mr. Yeddyurappa said, “For the first time, the focus of investors is not Bangalore. And, even more importantly, it is not just about IT or mining; it is about steel, through value addition within the State.”

Diverse projects

Mr. Yeddyurappa pointed out that investors had identified projects across a cross section of industries, ranging from food-processing to integrated steel plants. Among the projects cleared by the government in the run-up to the mega meet was the proposed integrated steel plant by ArcelorMittal, the world's biggest steel producer, in Bellary district.

The meet will be inaugurated by Arun Jaitley, Leader of the Opposition in the Rajya Sabha. M. Veerappa Moily, Union Minister for Law and Justice, and Subodh Kant Sahai, Union Minister for Food Processing, will also attend.

Among the “star” investors at the meet will be Lakshmi Mittal, chairman and CEO, ArcelorMittal; Azim Premji, Wipro chairman; S. Gopalakrishnan, CEO and managing director, Infosys; Venu Srinivasan, former president of the Confederation of Indian Industry (CII) and several other business leaders.

The heads of several leading public sector banks, which have evinced interest in funding projects for which MoUs will be signed at the meet, will also be present.

The government is likely to sign about 400 MoUs with investors. Minister for Large and Medium Scale Industries Murugesh Nirani said, “Even if only half the projects actually fructify, it would still result in a huge flow of investment into the State.”

The parallel sessions devoted to aerospace, automotive and machine tools, food- processing, tourism, infrastructure, power generation, information technology, biotechnology, healthcare, education and textiles will enable potential investors “focus clearly on their area of interest,” according to Mr. Nirani.

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Printable version | Apr 2, 2020 8:31:39 PM | https://www.thehindu.com/news/national/karnataka/Karnatakas-mega-investor-fest-from-today/article16240480.ece

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