GIM 2012 GARNERS Rs.7.6 LAKH CRORE INVESTMENT ACROSS SECTORS

GIM 2012 GARNERS Rs.7.6 LAKH CRORE INVESTMENT ACROSS SECTORS 

Govt Of Karnataka Press Release

- Potential to create 15 lakh jobs in the State

- In addition, 1.68 lakh crores of investment received as registration of interest for the infrastructure sector 

Bangalore, June 8, 2012

The flagship event of the Karnataka Government, Global Investors Meet (GIM) 2012 held in Bangalore at the Bangalore International Exhibition Centre (BIEC) came to a close today with the Government signing 730 MOUs across several sectors for investments in the State. The government today garnered investment of over 7.6 lakh crores with a potential to offer over 15 lakh jobs. In addition 1.68 lakh crores of investment was received as registration of interest for the infrastructure sector. Over the last two days, the event had a participation of over 40,000 visitors. 

Addressing the media at the close of GIM 2012, Mr. D.V. Sadananda Gowda, Hon’ble Chief Minister of Karnataka said that the response to Karnataka has been tremendous. “The Global Investors’ Meet has been 

organized as a focused endeavor to realize Karnataka’s vision of achieving sustainable economic development, increase in employment levels, betterlivelihood, balanced regional development and environmentally sustainable long-term development, as outlined in our Vision 2020. I am happy to say that through the success of GIM 2012, we are on the right track. We look forward to strengthen partnerships with our investors in our mutual quest to achieve enhanced and wide ranging interactions and initiatives in the future. Over the last 20 months, we have invested a large amount of time preparing for Global Investors Meet 2012 and have interacted with investors not only in India but in several other countries”, he added.

“The success of GIM 2012 is a result of our efforts in reaching out to and offering them the best business climate at par with the best in the world. We are continuing our efforts to enhance and sustain investments across sectors through proactive and innovative initiatives in policy and GIM 2012 has taken us to the next level”, Mr.Gowda said. “The Government of Karnataka is committed to inviting and sustaining investments that would enhance inclusive growth and employment within the state. In line with this, one of the initiatives is the forming of a Karnataka ICT Group 2020. The mission of the group is to increase ICT exports to Rs 4 Lakh crores and create additional 12L jobs by 2020. The group also intends to help incubating 1000 start ups and entrepreneur driven initiatives”, Mr.Gowda added. 

Over the last two days, This GIM focussed on a wide range of upcoming sectors like knowledge economy, science and technology, engineering, tourism, textile, infrastructure, and energy. Karnataka offers an abundance of investment opportunities in each of these sectors with a slew of sector-specific policy initiatives to encourage investor interest. The State has also placed special emphasis on business partnerships for development of micro, small and medium enterprises (MSMEs).

The GIM Expo saw the participation of over 462 exhibitors over an area of 200000 sft. consisting 13 countries including Japan, Germany, Mexico, Italy, Canada, UK, Taiwan, etc. 9 leading states from India like MP, Bihar, Rajasthan Kerala, Gujarat, Chattisgarh and Jharkhand. Over 130 PSUs and large enterprises like Tata, Toyota, Honda, JSW, L&T, MRPL, Indian Oil, HAL and SBI to name a few. Over 300 Small and micro enterprises from across Karnataka covering all districts also participated. B to B meetings Interlinx partnering online tool received 2600 registered delegates leading to about 2200 plus meeting requests and over 560 meetings were held at the venue. India partnering meetings numbered over 150 amongst National and International participants. 

Speaking at the press conference, Mr.Murugesh Nirani, Hon’ble Minister for Large and Medium Industries attributed the success of GIM 2012 to an unrelenting quest by the Government to proactively identify and find solutions to issues investors were facing. “Going by the tremendous success of the Global Investment Meet 2012 and the unprecedented response from investors through the signing of MOUs valued at over 7.6 

lakh crore, we have proved that Karnataka is the most preferred destination not only in the country but in the region as well”, Mr.Nirani said. 

Speaking on the State’s commitment to facilitate the smooth flow of business for investors, Mr.Nirani added that the State government has launched innovative policies, under which attractive incentives across a 

wide variety of sectors have been offered to investors to create an enabling policy environment and address the varied needs of industry in the state. “Karnataka has launched India’s first Animation, Visual Effects, 

Gaming and Comics Policy apart from focusing on a strong and effective Intellectual Property Rights framework through greater awareness and commercialization. In addition, the Government is putting in place 

polices to advance further facilitate investment in the state. Draft policies that are ready for release include Infrastructure Bill, Special investment Region Act, Karnataka State Housing Policy, Automobile Policy, Aerospace Policy, Solar Policy, Pharma Sector Policy”, he added.

The State has been proactive in identifying and addressing investors’ needs through timely policy-level interventions such as The New Industrial Policy, State SEZ Policy, Electronic Hardware Policy, Textile Policy and Integrated Agri Business and Agro-Processing Policy. The government is in continuous communication with investors to seek feedback and further enhance the business environment in the state. 

The State has also provided land for the establishment of Indian Institute of Nano Science and Technology, and for the establishment of International Centre for Theoretical Sciences. 

In its past experience, the State realized that land was one of the primary issues facing investors and hence, the Government has taken a series of positive steps to acquire and build a land bank near Devanahalli to establish a software park, an electronic hardware park and an aerospace park to harness the vast potential in this sector. The state has allocated 4000 acres of land for the development of a science city in 

Challakere, about 200 kilometers from Bengaluru, where the prestigious Indian Institute of Science will locate its second campus”, Mr.Nirani said. 

Karnataka is the first state in the country to promote nano science and nanotechnology. In a significant move to attract investment from nanotechnology-based industries, the Government has initiated a project to develop a nano park on approximately 100 acres. The state has also proposed the establishment of a technology innovation and research center, based on the Industrial Technology Research Institute model in 

Taiwan. 

Government of Karnataka has allotted 50 acres of land near Bengaluru airport to IFCI to build a financial city. In addition, the state has taken the initiative to develop an integrated Information Technology Investment Region (ITIR), covering an area of 40 sq. km. The Central Government has given an “in principle” clearance for the project. First phase of this project has been initiated in 2072 acres of land. 

The State government had organized the first Global Investors Meet in 2010 to demonstrate its commitment to promote equitable growth across the state to make it globally competitive and a leader among Indian states. The event organized in 2010, was a grand success and the state signed 389 MoUs with investments amounting to Rs 3.92 lakh crores (US$ 78.4 billion), of which more than 72% of the projects are in various stages of implementation. The Knowledge partners for GIM 2012 were Ernst & Young and Event Partner was MM Activ Sci Tech Communications.