BENGALURU: The state government is confident of signing MoUs worth Rs 5 lakh crore during the Global Investors Meet (GIM) to be held in Bengaluru from November 2 to 4, said Industries Minister Murugesh Nirani on Saturday.
“The investment will have a potential to generate employment opportunities for around five lakh people. We are confident of reaching the target and doing even better,” he told TNSE.
The government is also hopeful of a much better conversion ratio -- realisation of investment proposals -- of over 75 per cent as compared to just 27 per cent after the last edition of GIM. Unlike earlier, the MoUs are not signed directly during the summit, but after detailed discussions about investment proposals and after giving required clearances.
The State-Level Single Window Clearance Committee headed by the industries minister and the high-level committee headed by the CM have already cleared Rs 3.4 lakh crore investment proposals. Government has set a target of around Rs 2 lakh crore in green hydro energy.
The government is acquiring around 50,000 acres--20,000 acres in Bengaluru Urban and Rural and the rest in districts. The land will be acquired with the farmers’ consent and a detailed audit will be done of unused land out of 1.65 lakh acres acquired from farmers for development of 188 industrial areas.