Karnataka Govt To Conduct Global Investors Meet In Jan ''09 - July 8, 2008

The Karnataka government is mulling to organise a global investors'' meet in January 2009 on the replica of the one held recently in Gujarat. The state targets to project tier-2 and tier-3 cities as the new growth centres to the prospective investors, Murugesh R Nirani, minister for large and medium industries, said. The government will concentrate on attracting investment to steel, cement, food processing, ITT and automobile sectors. The government have already approved 65 investment proposals comprising an investment of Rs 1,062 crore via the single window clearance committee. Through the proposed global investors'' meet, the state will attempt to attract investment proposals in the order of Rs 500,000 crore.

The high powered panel to approve mega investment projects has received 36 major investment proposals worth Rs 50,000 crore which will be approved during the meeting of the committee chaired by chief minister B S Yeddyurappa during the first week of August. The state government proposes to build an industrial corridor along the Bidar-Hyderabad national highway. This corridor, stretching over 500 km, will be developed on the models of Chennai-Bangalore-Mumbai industrial corridor which has already been cleared by the Central government. The government is setting up a task force to develop a blue print for the proposed setting up of special economic zone steel, cement, food processing, automobile and ITT parks.