2022 GIM attracted 9.8 lakh crore worth MoUs

‘50,000 acres available in landbank:

Bengaluru, Nov. 5: Chief Minister Basavaraj Bommai said a whopping 9.8 lakh crore business agreements are signed in the current Global Investors’ Meet (GIM) of which already Rs 2.83 lakh crore proposals have been approved.

Speaking at the valedictory of Invest Karnataka 2022 Global Investors meet here on Friday, he said ahead of the GIM begins, nearly 29 per cent of proposals are approved. The Department secretary has been asked to take steps for Rs 10 lakh crore investment proposals to become reality within the stipulated period. All agreements that were signed in the last three days must be implemented within the next three months. Thereafter a transparent report must be placed before the people after three days.

Taking a peek at the previois GIMs Bommai said the first GIM was held in 2000 in which Rs 27,000 crore investment was proposed of which 44 per cent investment was made. In 2010, Rs 3,94,768 crore investment promised of which only 14 per cent became reality. In 2012, Rs 6,77,158 crore investment was proposed of which only 8 per cent investment became reality. In 2016, Rs 3,05,000 crore investment was promised and only 15 per cent investment was made. However, this time it will not be allowed to happen. No government will tell reality but the incumbent government will keep all facts and figures before the people of Karnataka.
He said he was being more candid while introspecting all the GIMs.

‘50,000 acres available in landbank:

Fifty thousand acres with good infrastructure facilities are available in landbank of various districts, informed Bommai.

Hubballi-Dharwad, Mangaluru, Kalaburagi, Ballari, Mysuru and Tumkur districts in landbank. The Shivamogga and Vijayapura airport will start functioning soon. Besides, a full-fledged airport is under construction in Karwar. Besides, a 6000 km national highway road is under construction. The basic infrastructure and policies of the state government will not disappoint investors. This meet will be the strong foundation for economic progress of the state in the next phase. Implementation of signed MOUs in next three months.

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