1.33 lakh crore Investment Proposals fir Karnataka

Admitting that a decade-long (2004-13) political instability dragged the state in building infrastructure to attract investments in cities other than Bengaluru, the chief minister said the state had a new industrial policy, infrastructure policy, aerospace policy, electronics hardware and a start-up policy for uniform growth and development in the four regions across the state.

According to the organisers, 1,201 approved projects in the last few months and MoUs signed at the meet were totally valued at Rs 3,08,810 crore.

“I’m extremely happy to inform you that the total investments finalised during the meet is quite unprecedented and realistic”, said industries minister RV Deshpande to cheers from participants on Day 2 of the event. However, together with the investments garnered since April 2015, the Congress-led state government has managed to get a total of Rs 3.08 lakh crore of investments, he said.

The Karnataka government on Monday said Intel will make an investment of Rs 1,100 crore to set up software development center.

In this context, the chief minister told the gathering – that included central ministers, India Inc representatives, worldwide delegates and investors – that a global agency had ranked Bengaluru among the 20 start-up eco-systems in the world.

“We also commit to have all projects approved by the high power committee and single window committee before May 15 2016”, he added. Walmart and Ikea have announced their plans to set shop in the state at the global investors meet, in Bengaluru on Thursday.

The Minister also pointed out that in addition, Union Minister Nitin Gadkari has announced Rs 1 lakh crore in roads and highways and Rs 200 crore in ports. Gadkari said that he will hold a meeting with the Transport Minister of Karnataka today to come out with some solution.

Speaking on how the state has been a hotbed of innovation, Siddaramaiah said at Invest Karnataka 2016 that the state is poised to become the future of the country. “Our government is working towards propelling Karnataka to contribute to India’s growth in a significant way”.