Global Investors Meet: K'taka govt unveils Rs 1.5-trn proposed investments

Briefing reporters, the Minister said the GIM rose beyond expectations as plans for a total investment of Rs 9.82 trillion were made

Karnataka Medium and Large Industries Minister Murugesh Nirani on Saturday said proposals for investment to the tune of Rs 1.57 lakh crore were announced during the Global Investors' Meet (GIM) here.

The 3-day GIM concluded on Friday.

Briefing reporters, the Minister said the GIM rose beyond expectations as plans for a total investment of Rs 9.82 lakh crore were made.

We have received investment proposals to the tune of Rs 9.82 lakh crore (since January this year) out of which Rs 2.83 lakh crore were approved by the single-window/State high-level clearance committee (SWCC/SHLCC) and Rs 1.57 lakh-crore investments were announced during the GIM, said Nirani.

There are other big investment proposals that will be cleared by the State high-level clearance committee, headed by Chief Minister (Bommai), in the next three months, said the Minister.

He said the energy sector received the major chunk of investment proposals, indicating the government's thrust on alternative energy sources such as green hydrogen, green ammonia, wind, and solar.

According to Nirani, 90 per cent of the investment plans were meant for places outside Bengaluru. He said the government was encouraging the One District, One Product' initiative to promote industries.

Nirani vowed to improve waterway, airway, railway, and roadway in a big way. Further, he promised appointing nodal officers to help the investors with necessary infrastructure, water, power supply, and skilled manpower.

There are eight airports operating in the State and three more would come up soon, he said.