‘Gujarat no longer investment leader’

MANGALORE: On attracting investment, Karnataka is fast outpacing Gujarat, which was once a role model, Chief Minister D V Sadananda Gowda said. Addressing the gathering at a two-day coas

Published: 05th January 2012 01:55 AM  |   Last Updated: 16th May 2012 06:09 PM   |  A+A-

MANGALORE: On attracting investment, Karnataka is fast outpacing Gujarat, which was once a role model, Chief Minister D V Sadananda Gowda said.

Addressing the gathering at a two-day coastal business development summit, organised by Federation of Karnataka Chamber of Commerce and Industries (FKCCI) here on Wednesday, he emphasised that this was possible with focus on industrialisation in the last four years. “The second Global Investors Meet (GIM) planned in Bangalore in June aims to attract an investment of Rs 6 lakh crore for Karnakata,” he said.

The CM elucidated: “Among these 288 projects, 89 are in their final stages; six lakh jobs would be generated from the new industries.” Gowda declared that the government through the GIM will sustain its status as an investor-friendly state. He attributed the lack of vision of his predecessors for the state lagging behind in development.

He hoped that coastal development summit will boost the economy of coastal Karnataka region. “Industries with advanced technology are the need of the hour; however, environmental issues cannot be ignored,” he said.

Minister for Large and Medium Scale Industries Murugesh R Nirani said the government will focus on setting up industries in two and three-tier cities in the GIM-2012. “The government is committed to provide special package for investors  looking at regions outside Bangalore,” he added.

Commissioner of Industrial Development and Director of Industries and Commerce A Maheshwara Rao symbolically signed three Memoranda of Understanding which included setting up a subsidiary industry worth `1,100 crore and two hotels worth `105 crore and `25 crore respectively.

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