Nirani bets big on GIM-2012

BANGALORE: While the “success” of the Global Investors Meet (GIM) 2010 is yet to materialise, the state government has already carved out plans on expected revenues and investments from its ne

Published: 27th April 2012 08:30 AM  |   Last Updated: 16th May 2012 07:46 PM   |  A+A-

BANGALORE: While the “success” of the Global Investors Meet (GIM) 2010 is yet to materialise, the state government has already carved out plans on expected revenues and investments from its next edition to be held in June 2012.

Industries Minister Murugesh Nirani was addressing the media on Thursday after his recent visits to Japan and Singapore for the promotion of GIM.

Nirani said that they expect to rake in investment worth Rs 5 lakh crore in the GIM 2012.

The very assurance that over 1,000 companies from Japan had evinced interest in setting up shop here had led the minister to earmark 500-1000 acres in Narsapura, Vemgal and Tumkur for a Japanese city.

He also announced that the financial city in Devanahalli would be expanded from 50 acres to 100 acres, with 25 acres earmarked for a Japanese bank.

“The government will review GIM 2010 and its progress in May,” Nirani said.

On the POSCO controversy, Nirani said that the “ball was in the CM’s court” and that they would soon discuss and arrive at a consensus on it.

He said that the GIM organisers would concentrate on 14 core sectors for investment, including aerospace, agro-tech, defence and fertilisers. Nirani also hinted that there would be no impetus on mining in the GIM 2012.

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