Covid-19 situation in Karnataka may derail Global Investors’ Meet roadshows

Karnataka is all set to host the much-awaited Global Investors’ Meet (GIM) in February 2022. The meet was supposed to be held in 2020, but was cancelled due to the Covid-19 pandemic.

For representational purposes (Express Illustration|Tapas Ranjan)

BENGALURU: Karnataka is all set to host the much-awaited Global Investors’ Meet (GIM) in February 2022. The meet was supposed to be held in 2020, but was cancelled due to the Covid-19 pandemic.

However, this time too, the Covid-19 pandemic could derail the government’s plan to conduct roadshows, both within and outside the country, to attract investors. The Karnataka Cabinet, in July, gave its nod to hold the meet under the banner ‘Invest Karnataka’ at Bengaluru’s Palace Grounds from February 9-11 next year. The State Government has set aside Rs 50 crore for the three-day mega event.

The government is hoping to draw investors from several South Asian countries, France, Taiwan, Germany and the US. It is planning to hold roadshows in these countries to promote the meet and draw potential investors. Also, the government is planning to hold roadshows in several Indian cities which have a good number of manufacturing units, including Lucknow.

Karnataka last hosted a Global Investors’ Meet in 2016, which concluded with 1,201 approved projects and MoUs valued at Rs 3,08,810 crore. Then roadshows were conducted at 10 places, including Pune, Mumbai, Delhi, Kolkata, Hyderabad and Jamshedpur. Roadshows were also held at a few places outside the country.

“This year, we are keen on conducting roadshows outside India. But Covid-19 restrictions and the subsequent economic slowdown and travel curbs, could affect our plan,” an official of the Industries Department told The New Sunday Express. Also, they are waiting for a new Industries Minister to take charge to decide on the future course of action.

The 2022 GIM will be the first such meet to be held in the shadow of the Covid-19 pandemic. Speaking to TNSE, Gunjan Krishna, Commissioner, Industrial Development and Director, Department of Industries and Commerce, said they are waiting for the new Industries Minister to assume office. “Roadshows are a challenge for us,’’ she said.

The first Global Investors’ Meet  was held in 2000, but it took 10 years to organise the second one in 2010, when the BJP was in power. The third GIM was held in 2012 and the last one in 2016. After 2016, 
the Kumaraswamy government decided to hold a GIM in 2019. But the plan got shelved after the collapse of the Janata Dal Secular-Congress government.