In an effort to create an investor-friendly atmosphere in Karnataka, the state is not only holding the two-day-long Global Investors Meet(GIM) but is also facilitating loans through banks and financial institutions to clear projects.
In an interaction with Express, Industries Minister Murugesh R Nirani on Tuesday said that for the first time, these efforts by the state had evoked interests in investors. “Karnataka is the first state in the country to extend loan facilities to investors. Even Gujarat has no such facilities,” said Nirani and added that despite volatile political situation in the state and global economic slowdown, GIM would attract over Rs 6 lakh crore investment proposals.
He added that owing to the absence of iron and mining sectors in GIM-2012, the government had estimated to receive around Rs 5 lakh crore investment proposals. “But, after the positive responses to our road shows, we could even touch Rs 7 lakh crore,” said Nirani.
According to him, proposals from sectors like power infrastructure, automobile and food processing are getting impetus with large number of investors showing interest. Besides these, traditional investors from Information Technology, Bio-Technology and Aerospace are inking around Rs 1 lakh crore investment proposals, the minister said.
As many as 600 companies from over 32 countries are taking part in GIM-2102.