Karnataka is expecting investments to the tune of over ₹5 lakh crore from the 2022 edition of its investment exploratory exposition, Global Investors’ Meet (GIM), said Minister for Large & Medium Industries Murugesh R. Nirani.
These investments, in turn, would also create over 5 lakh jobs in various parts of the State, said the Minister while addressing a media conference here on Thursday.
The GIM would showcase the robust industrial-friendly ecosystem of Karnataka and attract investments from global industry players and spread industrialization across the State, anticipated the Minister.
Roadshows
“We have recently completed international roadshows in Japan, South Korea, the US, and Europe, in addition to domestic roadshows in Delhi, Hyderabad, and Mumbai. Our aim is not only to get investments but to bring the industry giants under one platform,’‘ said Mr. Nirani.
The Minister said with the key themes of resilience, innovation, sustainability, and equity, his ministry was committed to setting Karnataka’s development agenda in line with global best practices and showcasing the state’s ability to “Build for the World.”
Karnataka has already secured projects worth over ₹4 lakh crore from various industries such as Green Hydrogen, Electronics Manufacturing, Renewables, Aerospace and Defence, e-mobility, and infrastructure. “We are expecting this investment to increase after GIM,’‘ the Minister added.
“We have seen a 66% conversion of MoUs signed in connection with GIM earlier. This time, we are expecting the conversion ratio to cross 80%,’‘ Nirani added.
To increase its investor readiness, Mr. Nirani said, the government would also create an additional land bank of 50,000 acres, 20,000 acres in Bengaluru and 30,000 acres across the state.
Inauguration by PM
GIM, which is scheduled to be held between November 2 and 4, will be inaugurated by Prime Minister Narendra Modi. Finance Minister Nirmala Sitaraman, other union ministers including Smiriti Irani, Bhagwanth Khuba, and Nitin Gadkari are also expected to attend the event. Over 5,000 global delegates, representatives of various governments and investors will participate in the event.
