Karnataka eyes investments worth Rs 5 lakh cr from Global Investors’ Meet

Bengaluru, Oct 21 (KNN) Karnataka  minister for Large & Medium Industries Murugesh R. Nirani on Thursday said that the state is expecting investments of over Rs 5 lakh crore from the upcoming the Global Investors’ Meet (GIM).

Addressing the media conference, Nirani said “These investments, in turn, would also create over 5 lakh jobs in various parts of the State.”

The upcoming global investors’ meet aims to showcase the robust industrial-friendly ecosystem of Karnataka and attract investments from global industry players and spread industrialization across the State.

“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,’‘ he said.

As per reports, Karnataka has already secured projects worth over Rs 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.

To increase its investor readiness, the state government would also create an additional land bank of 50,000 acres, 20,000 acres in Bengaluru and 30,000 acres across the state.

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.  (KNN Bureau)