GIM has delivered beyond our expectations: Nirani

Conversion rate will be much better thos time

Bengaluru, Nov. 5: The three-day Global Investors Meet has delivered beyond our expectations with total investments worth Rs 9.82 lakh crore, announced Karnataka Large and Medium Industries Minister Dr. Murugesh R Nirani.

The minister was briefing the media personnel at a private hotel here on the outcomes of the three-day investors’ conclave.

Looking visibly happy over the grand success of the three-day mega Global Investors Meet at Palace Ground here, Minister Nirani said that the GIM has laid the foundation for future growth and the conversion ratio will be much better this time.

“We are glad that the GIM ended successfully with an overwhelming response from all the stakeholders. We have received investments to the tune of Rs 9.82 lakh crore out of which Rs 2.83 lakh crore investments were approved by the Single Window/State High-Level Clearance Committee (SWCC/SHLCC) and Rs 1.57 lakh crore investments were announced during the GIM. We are expecting a better conversion ratio this time than the previous GIMs. There are other big investment proposals that will be cleared in the State High-Level Clearance Committee headed by the Chief Minister in the next three months,” said Nirani.

Taking business beyond Bengaluru:

Expressing happiness over businesses going beyond Bengaluru, Minister Nirani said over 90% of the total investments are outside Bengaluru. “Our aim is the overall development of the state and I am glad that more than 90% of these investments are going beyond Bengaluru. We are also promoting the ‘One District One Product’ initiative to promote industries across the State. We will improve waterway, airway, railway, and roadway connectivity in a big way. There are eight airports that are operational in the State and three more will come up soon,” added Nirani.

The Minister said the energy sector received a major chunk of investments indicating the government’s thrust on the production of alternative energy sources such as green hydrogen, green ammonia, wind, and solar that are crucial for future development. The minister promised to extend all the cooperation and necessary help to investors to implement their projects. He said government agencies with nodal officers will help the investors and address their grievances. He also promised to provide necessary infrastructure facilities, water, power supply, and highly skilled manpower to the investors.

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