Karnataka Chief Minister Basavaraj Bommai said Rs 9.8 lakh crore in business agreements were signed in this year’s Global Investors Meet.
Basavaraj Bommai said already Rs 2.83 lakh crore proposals have been approved. “This time, before the Global Investors Meet (GIM) began where nearly 29 percent of proposals were approved,” he said at the valedictory of Invest Karnataka 2022, a flagship Global Investors Meet, conducted by the Karnataka government.
The industries secretary has been asked to take steps for Rs 10 lakh crore investment proposals to become reality within the stipulated period, CM said. “All agreements that were signed in the last three days must be implemented within the next three months. Thereafter a transparent report must be placed before the people,” he said on late Friday evening.
He said the first GIM was held in 2000 in which Rs 27,000 crore investment was proposed of which 44 per cent investment was made. In 2010, Rs 3,94,768 crore investment was promised of which only 14 per cent became reality, he said. In 2012, Rs 6,77,158 crore investment was proposed of which only 8 per cent investment became reality and in 2016, Rs 3,05,000 crore investment was promised and only 15 per cent investment was made, Bommai said.
“This time it will not be allowed to happen. No government will tell the reality, but my government will keep all facts and figures before the people of Karnataka,” he said.
As much as 50,000 acres with good infrastructure facilities are available in the landbank of various districts, Bommai said. The land is available in Hubballi-Dharwad, Mangaluru, Kalaburagi, Ballari, Mysuru, and Tumkur districts in the landbank, he stated. The Shivamogga and Vijayapura airport will start functioning soon, besides a full-fledged airport is under construction in Karwar, Bommai said.
Besides, a 6000 km national highway road is under construction, he added. The basic infrastructure and policies of the state government will not disappoint investors, Bommai said. “Of late, Dalit industrialists are coming to core sectors,” he said.
The entire world is hit by an economic crisis including the developed nations, but in India, Karnataka took a bold step to hold this event at a time when the world is busy saving its people from crisis, Bommai said. Bommai said Karnataka is in competition with Gulf nations and intends to manufacture hydrogen fuel and ammonia. Karnataka plans to manufacture Hydrogen Ammonia fuel and permission will be given on a first come first basis, he said.
What is the Global Investors Summit?
Global Investors Summit, officially the Invest Madhya Pradesh Global Investors Summit or GIS is a biennial business summit organized by the Government of Madhya Pradesh in Indore, the commercial capital of central India to draw domestic and foreign investment for the development of the state.
It is centered on the theme– India’s Growth Centre and aimed at bringing together business leaders, investors, corporations, thought leaders, policy, and opinion makers; the summit serves as a perfect platform to understand and explore business opportunities in the State of Madhya Pradesh. It later expanded to different States in India.
In 2019, the summit was held with the title ‘Magnificent MP Summit’ by then Chief Minister Kamal Nath in Indore, under the Congress government.
GIS 2007 – Signed 102 MOUs worth Rs 1.20 Trillion
GIS 2010 – Signed 107 MOUs for setting up projects worth Rs 2.35 Trillion
GIS 2012 – Signed 259 MOUs for setting up projects worth Rs 4.31 Trillion
GIS 2016 – 2630 Investments proposed worth ₹5.63 Trillion.