BENGALURU: A head of the Global Investors Meet (GIM) to be held in Bengaluru from November 2 to 4, Industries Minister Murugesh Nirani and senior officers from the department visited many cities in India and abroad to attract investments.
Gunjan Krishna, Commissioner for Industrial Development, Department of Industries & Commerce, said they are also focusing on getting thought leaders, political leaders and business leaders to carve out the development agenda. Excerpts.
How different will GIM 2022 be compared to previous GIMs?
In GIM 2022, what we are trying to do is not just the investments … of course, investment is going to be pivotal for the entire organisation of the event, but we will focus on getting thought leaders, political leaders and business leaders to carve out the development agenda, because we are living in very different times right now. With Covid, we had seen a shift and we realised that there is a concentration on the supply chain. So now people are looking at where they can go friendly-shoring. Similarly, there is tension in geopolitics. There’s tension between China and the US and the war in Ukraine. Given that scenario, how India and Karnataka can find opportunities during these times. Our theme is “build for the world.” We are looking at telling the world to look at India and Karnataka as the destination for not only meeting the local demand, but also for exports in manufacturing, innovation and solutions in sustainability. We want to ensure that our ecosystem is resilient to withstand these difficult times.
What are the expectations from GIM 2022?
Karnataka is already a brand established in the global supply chain. We want other people to be aware that Karnataka provides a very viable option in the world supply chain. It can become more potent. We are also looking at forging partnerships with various business houses.
What are the challenges in attracting investments?
They need to know the India story. The challenges would come now if the world slows down. Of course, we are better off than other countries when it comes to our growth factor. We can emerge as the next engine of growth for the world and many economists are talking about it. Having said that if the whole world slows down that would have an impact on us too. That is something we need to see.
Will the prevailing political situation have any impact on GIM as polls are around the corner?
One of the major strengths of Karnataka is its policy ecosystem and we are totally governed by policies. We are one of the better fiscally run states. Whatever we promise, we deliver.
Bengaluru’s image took a beating recently due to heavy rain. Will it have any impact on your efforts to attract investments?
No. Of course, we need to take corrective actions and we are taking corrective measures. Bengaluru is a strong brand all over the world. So it will continue to attract investment.
What are the sectors the government is focusing on?
Instead of just focusing on sectors, we have combined the entire thing under “build for the world”, which will cover all sectors.
What is the status of clusters announced earlier?
We will soon announce an MoU for the FMCG cluster, while the toy cluster is in a very advanced stage.
Land procurement is a big concern. How is it being addressed?
We are creating a land bank and wherever there is a demand, we are trying to get land. Of course, there would be challenges, but working with various departments and with farmers, we are trying to ensure that we get lands available for industrial development. At the same time, the interests of everybody else is taken care of.