BENGALURU: The three-day Global Investors Meet (GIM) concluded on Friday with MoUs worth Rs 9.82 lakh crore signed, which is almost double the Rs 5 lakh crore investment initially expected.
To ensure that MoUs signed are implemented on the ground, Chief Minister Basavaraj Bommai has instructed bureaucrats to follow up with companies and take steps for the implementation of the projects over the next three months.
In his address at the closing ceremony of GIM-2022, CM Bommai said, “This is not the valediction but an interval. Our government is committed to extending sustained support to companies investing in the state. There are challenges to the companies as well as the government. Let us work together to meet the challenges.”
On the green energy sector drawing investments to the tune of Rs 2 lakh crore, the CM said, “We (Karnataka) are producing 63 per cent of renewable energy in the country. I am sure Karnataka will be competing with the Gulf nations in producing hydrogen fuel and ammonia. I agree they have better infrastructure, but we have the determination.”
GIM held amid fears of recession: CM
“The ground-breaking for the production of hydrogen and ammonia will take place by February or March,” Bommai said. Pointing out that the event was organised under extraordinary circumstances, the CM said though such meets have been organised earlier, this edition was much more important as it was held in the backdrop of fear of recession across the globe.
“During such hard times, the Karnataka government has dared to organise this event. This became possible as our industrial policies, forward-looking attitude, talent and human resource are our strengths,” the CM said.
Bommai said that despite negative reports about the state’s infrastructure, particularly in Bengaluru, no other state can offer the infrastructure which Karnataka is offering. “We have a land bank of 50,000 acres in Hubballi, Dharwad, Mangaluru, Kalaburagi, Ballari, Tumakuru and Mysuru. Airports will be coming up soon in Shivamogga, Vijayapura and Karwar. We are developing national highways stretching
across 6,000 km.
All these years, Bengaluru was referred to only as an IT hub, but now there is development even on the outskirts. Very soon, Bengaluru will be a major financial hub,” Bommai said.
Industries Minister Murugesh Nirani said the government’s efforts to attract investments for other parts of the state have been successful, as districts other than Bengaluru have attracted 70 per cent of the investments. He also said that the next edition of GIM will be held in January 2025.