Karnataka realises less than 6% Global Investors Meet proposals

More than two years after it held the Global Investors Meet (GIM) where 389 projects worth Rs 3.92 lakh crore were cleared, the actual investment flow into Karnataka so far has been less than 6 per cent.

According to figures given by Large and Medium Industries Minister Murugesh R Nirani in the Legislative Assembly on Monday on GIM 2010 held in June of that year, only 40 projects with an investment of Rs 21,178 crore have so far been implemented. Also, only 24,525 jobs have been generated as against the projected employment of 730,000, while 2,218 acres of land have been allotted as against the requirement of over 77,500 acres.

Nirani gave the figures in reply to questions raised by T B Jayachandra, H C Mahadevappa, Dinesh Gundu Rao, Ramalinga Reddy and U T Khadar (all Congress) and Suresh Gowda (BJP). He said during GIM-2012 held in June this year, MoU, EoIs and registration of interest were entered into with 751 companies.