Global Investors' Meet (GIM 2012) Bangalore Opens up New Window of Opportunity for Investments

Global Investor’s Meet (GIM) was organised from 6^th- 8^th June,2012 in the BIEC Bangalore for the inflow of investments into Karnataka which saw a participation of almost 10000 delegates from 200 industry leaders across 39 countries and about 40,000 visitors attending the event including 8 Indian states participating. The event had about 462 exhibitors spanning various sectors.

The event also saw International countries like Japan, Mexico and Bavaria(Germany), Italy, Canada, UK and Taiwan participating at the event.

The two day event attracted a business of MOU signing for 7.6 lakhs Crores across 20 sectors which would be generating employment to approximately 15 lakh people.

Also Registration of Interest for Infrastructure projects was also suggested for 1,68,000 Crores.

Banks (Indian and Internationals) too showed their interest to invest and has pledged its overall support for the development projects in the state of Karnataka.

The banking majors have entered into MOU with the Govt. Of Karnataka of the likes of SBI (50,000 crores),Indian Overseas bank(10,000 crores),Central Bank, Bank of Tokyo Mitsubishi, Kotak Mahindra Bank, Andhra bank, IDBI Bank, Corporation Bank(10,000 crores),Punjab National Bank(10,000 crores),Indian Bank, Bank of India and Syndicate bank(11,000 crores) which totally would be approximately adding upto 3,00,000 crores of support.

The Energy Sector had a share of 39.6% and that of Iron and Steel had a share of 15.3% of the total investments. About more than 35,000 crores has been allotted for the benefit of the MSME sector.

Reputed companies of the likes of Tata, JSW, GVK, Toyota, Chettinad cements, Future Group also graced the occasion and has promised investments to Karnataka. The Institutions of Japan also has provided support to the government of Karnataka .Also the Government has assured support to the investors and has taken measures to expedite the processes and avoid any form of delay due to government regulations so that the investors do not take longer time within the red tapism of the government. The Chief Minister of Karnataka Mr Sadananda Gowda has assured the investors that he would be personally overseeing the progress of the projects.

The government also thanked the trade organisations and bodies like CII,FICCI, ASSOCHAM, FKCCI and KASSIA and other government bodies which helped them to create a robust connection among the industry and also help the MSME’s to raise the industrial growth of Karnataka to the next level.

Also there is a proposed Investment Relationship Management System (IRMS) which is to be set up in order to track the progress of each and every project in a monthly basis and a relationship manager would be allotted to each of the project. This will help to track the progress of each project. Government is also trying to speed up the processes so that a lot of progressive work can be done efficiently without much delay. During the last GIM 2010 meet, the Karnataka government had cleared about 400 approvals within a time span of 3 months and is soon going to complete the Dabhol-Bangalore gas pipeline project. Such measures are being initiated to speed up the industry growth and to attract more and more investments in the state.