Karnataka eyes over Rs 2.5 lakh cr from global investors meet 

Posted By: PTI
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Bengaluru, Feb 1: Betting big on the upcoming global investors meet, the Karnataka government is looking to attract twice the Rs 1.30 lakh crore investment it has wooed in the last two years.

Ahead of the three-day mega event, Invest Karnataka 2016, beginning here on February 3, Chief Minister Siddaramaiah told reporters that with a thriving eco-system for investment the state's expectations were "realistic". Several mega investment projects would be announced at the meet.


Besides, the government hopes to mobilise investments in 116 investible projects identified already, he said. He added that the state government has cleared proposals worth Rs 1.30 lakh crore in the last two years after he took over as the Chief Minister and they were in different stages of implementation.

The government is expecting to attract double the investment received so far, he said. The CM further said that the state would reach the targets set in the new 2014-19 industrial policy, one year ahead of the timeframe.

The new policy envisages 12 per cent industrial growth, Rs 5 lakh crore investment and generation of 15 lakh jobs. On the common refrain by the corporate sector regarding non-availability of land, he said the state cabinet had recently decided to hand over 13,000 acres to Karnataka Industrial Area Development Board.

"Land is not a problem. Karnataka has already created a land bank of 26,268 acres," noted Rathna Prabha, Additional Chief Secretary (Industries and Commerce). Over 100 top global and Indian leaders, including marquee investors, would take part in the meet, besides CEOs of domestic and global corporations, he pointed out.

Among the attendees would be Ratan Tata, Kumar Mangalam Birla, Anil D Ambani, Gautam Adani, Uday Kotak, N R Narayana Murthy, Sajjan Jindal and Baba Kalyani, officials said.

Fourteen sectors, including defence and textiles, have been identified for the meet, for which seven partner nations - France, Germany, UK, Italy, Sweden, Japan and South Korea - are arriving with huge delegations, Minister for Large and Medium Industries R V Deshpande said.


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