Invest Karnataka 2016: Day Zero and it's 100 companies, Rs 50,000 crore already
Bengaluru: As many as 100 companies have received the green signal on Tuesday from the High Level Committee of Invest Karnataka 2016 that was vetting the proposals that had been flooding in. In a marked departure from the past when deals were inked but rarely came through, Industries minister R. V. Deshpande who along with his advisers remained closeted through Monday and Tuesday finalising investments in the run up to the three day event that opens Wednesday, could pull off a major coup for the Siddaramaiah government.
“Integrated business parks, townships, R&D facility for robotics and artificial intelligence, textile and pharma companies have gotten the thumbs up. On Monday alone clearances were given to investments worth over Rs 50,000 crores,” said a highly placed source.
In the last 15 days over 200 to 250 proposals have been cleared. Two automobile giants Toyota and Volvo have been thinking of expansion as both of them are setting out on variants in different segments of SUVs, sedans and hatchbacks.
The supply chains of these automobile companies are so huge that their allied and ancillary factories too require large tracts of land. “We are happy that these two mega auto projects are through as it creates thousands of job opportunities,” sources said.
What’s in store...
The first day will see business meetings in the areas of areospace and defence, agri-business and food processing, bio-technology and energy. A tea break later , country sessions will be held with Japan, France and Sweden.’
The following day the focus will be on auto and machine tools, urban infrastructure, information technology, tourism and other related departmental business meetings. Country sessions with Germany, UK, Italy and South Korea will follow. Promoting women entrepreneurship will also find a place. MoUs are expected to be signed in the areas of electronics and manufacturing, infrastructure, pharma , textiles and garment industries.
Friday will see outdoor visits to industrial parks and places of tourism interest in the state.
