Will showcase state as investment hub: Murugesh Nirani

Minister says focus will be on Tier 2&3 cities to promote industries; Gautam Adani, host of biz tycoons to attend
A wall being painted ahead of the Global Investors’ Meet 2022 on Palace Road in Bengaluru on Monday | Vinod kumar T
A wall being painted ahead of the Global Investors’ Meet 2022 on Palace Road in Bengaluru on Monday | Vinod kumar T

BENGALURU: The state government is set to showcase Karnataka as the global startup hub as 37 per cent of the startup funds come from Bengaluru with Prime Minister Narendra Modi set to inaugurate the three-day Global Investors’ Meet (GIM) 2022, virtually on Wednesday.

“Bengaluru houses 40 out of 105 unicorns and 3 of 4 decacorns in India,” said Murugesh Nirani, Minister for Large and Medium Industries, during his visit to the Palace Grounds on Monday, adding, “Our aim is not only to get investments but to bring industry giants under one platform.”

“Karnataka is the preferred destination for investments in the manufacturing and sustainability sectors. We have received a huge response from investors globally,” he said. The theme is ‘Build for the World’, reflecting Karnataka’s role in the global supply chain.

Sub-themes of innovation, sustainability, equity and resilience will be the key topics to be addressed during the event, he said, adding that the valedictory ceremony will see more than 5,000 senior delegates participating.

“We want to focus beyond Bengaluru to promote industries in Tier 2 and 3 cities through our Beyond Bengaluru initiative,” he said. The inaugural ceremony will be followed by sessions where around 80 speakers will participate in 50 sessions including panel discussions, fireside chats, and ted-style talks.

Networking events, business exhibitions and country sessions would run parallelly. The country sessions will each be hosted by the partner countries -- France, Germany, the Netherlands, South Korea, Japan and Australia -- which would be bringing in high-level ministerial and industrial delegations from their respective countries for the same.

Business tycoon Gautam Adani’s son Karan Adani, Kumar Mangalam Birla, Vikram Kirloskar, Starbucks cofounder Zev Siegl, Sajjan Jindal, Rajan Mittal, Prateek Agarwal, Rishad Premji are those who have confirmed their participation. Adani is also likely to announce an investment commitment.

Union Finance Minister Nirmala Sitharaman, Commerce and Industry Minister Piyush Goyal, and Ministers Pralhad Joshi, and Smriti Irani are likely to take part.

Karnataka government will give Letters of Assurances to the investors whose projects have already been cleared, said Chief Minister Basavaraj Bommai on Monday.

“Since many have expressed their interest to invest, we will get an estimated Rs5 lakh crore investment for the state. The project clearance has been granted. The letters of assurance will be distributed during GIM 2022” he said.

During the three-day event, there will be discussions on development and challenges in the fields of renewable energy, semiconductor, aerospace and defence sectors, and other sectors, where experts from India and abroad will take part, he said and appealed to entrepreneurs and small-scale industries to register.

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