Karnataka eyes over Rs 20,000 crore investment in MSME

Karnataka eyes over Rs 20,000 crore investment in MSME
6 JUN, 2012, 08.49PM IST, PTI 

BANGALORE: The Karnataka Government is looking at over Rs 20,000 crore investments in micro, small and medium enterprises (MSME) sector in this year's two-day Global Investors Meet (GIM), which started here today. "About 8,000 companies are participating in GIM 2012 and we are looking at over Rs 20,000 crore investments in MSME sector," a top government official said. 

The meet was inaugurated by Chief Minister D V Sadananda Gowda. Best part of the current GIM is that many participants are cluster-based companies like plastic, packaging, machine tools, medical equipment, precision engineering, areospace and pharma among others, the official told reporters. 

Companies from Mysore have committed an investment of Rs 12,000 crore and those from Belgaum Rs 2,000 crore, he said, adding Rs 4,000 crore investments would come from companies based in Hubli-Dharwad and Rs 1,000 crore from Dakshin Kannada district. Industries in and around Bangalore have committed an investment of above Rs 5,000 crore, the official said. 

Besides, there was good participation from states like Gujarat, Punjab, Kerala, Uttarakhand, Madhya Pradesh, Uttar Pradesh, Jharkhand, Bihar, Chhattisgarh and Odisha among others, an official, who declined to be quoted, said. More than 30 countries including Italy, Japan, Mexico, UK Cannada, Taiwan and Germany, among others, are participating in the meet, the official said. Some of the key participants in the expo are JSW Group, Honda two-wheelers, Grasim, Suzlon, Gail, Zuari Cements, SBI, Tata Motors, Toyota Motors, L&T, Indian Oil Company, HAL, NAL, DRDO, Mangalore Refineries and Petrochemicals Limited.