BENGALURU: Karnataka on the outlook for investment had the event ‘Invest Karnataka 2016’ inaugurated on Wednesday in Bangalore. It has wooed investment of Rs. 1.33 lakh crore for the development of the state. Memorandum of understanding (MoUs) from countries like Russia, China and Egypt worth Rs. 1.70 lakh crore were also signed at the event.
“We have signed 121 agreements and expressions of interest to the tune of Rs. 1.33 lakh crore at the Global Investor’s Meet (GIM). The total investments (Rs. 3.08 lakh crore) will generate 6.7 lakh jobs,” state industries minister, R.V. Deshpande, said at the valedictory function of the three-day mega event.
In the next six months the government plans to make a lot of investments in varied industries in different parts of the state, including Bellari, Dakshina Kannada and Ramanagaram. Nitin Gadkari, Union Transport Minister, announced that the ministry would make an investment worth Rs. 1 lakh crore in developing highways across the state.
J. George, Minister for Bangalore development said, “We are working closely with the Centre to look at different solutions for the traffic congestion problem. The development of elevated corridors and the completion of the metro will make transportation easier.”
The interactions that the state government had with several business delegations gave it a clear sense that the investing community is looking forward in ending bureaucratic hurdles.
Assuring the delegates, Chief Minister Siddaramaiah said: “There is complete support from the government to ensure that there is ease of doing business. The state has always believed in keeping an open policy for helping businesses flourish and develop”.