GIM attracts investment proposals worth over Rs 1.33 lakh cr

Investment proposals worth Rs 1,33,177 crore have been received at the Global Investors Meet, the Karnataka government said today.
The proposals have potential to create 1,93,905 jobs, it said at the valedictory function of the mega event 'Invest Karnataka 2016', which opened yesterday.
In the last 10 months, the state has garnered a total of Rs 3.08 lakh crore investments, including the proposals at the meet, with employment potential of a total of 6.7 lakh, it said.
Industries Minister R V Deshpande said that out of Rs 3.08 lakh crore, 56 per cent, that is Rs 1.75 lakh crore worth projects had already been approved by the High Powered Committee, single window agencies of various departments and district level single window agencies.

"..We have received 121 MoUs and EoIs to the tune of Rs 1.33 lakh crore during the investors meet," he said.
The function was attended by Chief Minister Siddaramaiah, Union Ministers Nirmala Sitharaman, Suresh Prabhu and Sadananda Gowda, among others.

Deshpande said investments have come from all focus sectors, including manufacturing, pharma, bio technology, agri business, urban infrastructure, infrastructure and tourism.
He also said government has appointed an official to follow-up on all projects above Rs 200 crore.
"We also commit to have all projects approved by the high power committee and single window committee before May 15 2016," he added.

The Minister also pointed out that in addition, Union Minister Nitin Gadkari has announced Rs 1 lakh crore in roads and highways and Rs 200 crore in ports.
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According to the organisers, 1,201 approved projects in the last few months and MoUs signed at the meet were totally valued at Rs 3,08,810 crore.
The energy sector garnered the highest investment valued at over Rs 1 lakh crore.
Most of these projects were in the renewable energy sector, particularly in waste energy, solar energy and wind projects, a statement by the organisers said.
About Rs 38,000 crore investment was firmed up in the steel sector, promising employment to about 6,000 people.

The chemicals sector saw investments proposals of about Rs 24,000 crore, with an employment potential for 5,000 people, it said.
Other leading sectors that attracted high level of investor interest are food and agribusiness, infrastructure, tourism, oil and gas and aerospace, the statement said.
Projects approved during the year are in multiple sectors and located across the state, including districts of Ballari, Dakshina Kannada, Tumakuru, Shivamogga, Bengaluru Rural and Kolar.
Around 10,000 delegates from all over the world attended the event, where over 150 B2B meetings were held, it said.
The investment proposals were from Adani Green Energy Limited (Rs 18,500 crore), JSW STEEL LTD (Rs 12,396 crore), GEITSO Green Energy Pvt Ltd (Rs 10,000 crore), Essel Infra Projects Limited (Rs 7,200 crore), Fox Petroleum Ltd (Rs 7,000 crore) and Shriram Properties Pvt Ltd (Rs 5,920 crore).