Over 70% of the total ₹9.82 lakh crore investment engagement proposals that Karnataka inked with various industries at its investment exposition Global Investors’ Meet would be realised, said Murugesh R. Nirani, Minister for Large and Medium Industries.
“This time GIM is going to witness a high rate of conversion at 70%, compared to earlier editions. All these projects will be completed and will go on stream within one to five year’s time, depending on the industry and the minimum time required for commencement,’‘ he told The Hindu.
He said he and his government was confident of overseeing the completion of these new projects in the next five as he was certain about the continuity of administration even after the Assembly elections.
Mr. Nirani said, “Our investment target was ₹5 lakh crore and we have significantly exceeded and close to doubled it. Accordingly, our employment outlook will also increase to over 6 lakh from the earlier expected 5 lakh.’‘
According to the Minister, some ₹2.83 lakh crore of the total investments are already approved by the Single Window Agency and High-Level Clearance Committee while proposals for investments of ₹ 1.57 lakh crore were announced during the GIM, which also will be soon cleared by the government.
More than 90% of these investments would be going beyond Bengaluru as the government has a mandate to bring in well-rounded development in the state to boost economic growth, the Minister said.
“We are promoting the ‘One District One Product’ initiative to offer exclusive focus on various industries. We will also improve waterway, airway, railway, and roadway connectivity in a big way to facilitate business growth and boost investor confidence. Eight airports are operational in Karnataka and three will come up soon,” Mr. Nirani added.
Published - November 05, 2022 11:15 pm IST
