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Karnataka to host Global Investors Meet on June 7, 8

The Hindu Business Line:  April 11, 2012

Bangalore: Karnataka will hold its flagship event “Global Investors Meet-2012”on June 7-8 as part of the Government's campaign to promote the state for investment.

Karnataka is set to attract investments to the tune of six lakh crore into the state during the GIM 2012.

The spinoff will include the creation of over 10 lakh jobs apart from achieving overall economic growth in the State.

GIM Expo planned at the BIEC also seeks to showcase the top 20 industry and service sectors over an area of 20,000 sq metres, according to a press statement.

Focus on sectors

Global Investors Meet 2012 will focus on sectors such as energy, urban infrastructure, transport infrastructure, engineering and aerospace, tourism, chemicals and petro chemicals, biotechnology, education, information technology, tourism, mines and minerals, textiles and apparels and agro food processing with a special focus on MSME segment.

As part of this, several senior executives from companies including Chettinad Cement Corporation, BMP Green Energy, Hinduja Foundries Kaizen Nano Labs and TVS Lucas had discussions with official from the Karnataka Government, according to the statement.

Officials from the government, including Mr K. Jyothiramalingam I.A.S., Principal Secretary, Commerce and Industries, and Mr Maheshwar Rao I.A.S., Commissioner, Industrial Development, Government of Karnataka, met the potential investors.

“In sectors like auto and auto components, IT & ITES, cement and energy, we are looking at more investments coming in from companies based in Tamil Nadu,” Mr Jyothiramalingam said, according to the statement.

On infrastructure

He said that tier 2 cities were well equipped to offer the best infrastructure and other requisite amenities at par with Bangalore.

He added that the Government is committed to providing a special package for investors looking at regions outside Bangalore.

Auto-cluster

According to the statement, Karnataka plans to develop an auto cluster in Hubli-Dharwad.

The Government is planning mega infrastructure projects such as special investment regions, integrated townships, focused industrial clusters, etc. in the State.

“In the pipeline is the pharma SEZ in Hassan and pharma park at Yadgir which will offer companies top of the line infrastructure.

“The State's focus is mainly on renewable energy, merchant power plants,” the statement said.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.