Karnataka expects to attract Rs 6 lakh core in GIM-II

The government also announced a new special package for projects that involve investment of Rs 250 crore and above in Tier-II and Tier-III cities and said it wants to ensure at least one mega project in each district, an official statement said.

"When we started planning for GIM 2012, we had identified 14 focus sectors and set ourselves a target of attracting investments in excess of Rs five lakh crore. Now it is anticipated it might touch Rs six lakh crore and enable the state create 10 lakh jobs", Minister for Major Industries Murugesh Nirani said.

Principal Secretary to the Industries Department M N Vidyashankar said an aerospace project involving Rs 10,000 crore investment is likely to come up near Bangalore International Airport.

Interacting with the media ahead of the GIM, Nirani said the government has already received investment interest for 300 big projects till date, and confirmation from delegates from 30 countries.

"In the midst of economic recession, Karnataka's political instability and depreciation of Rupee, we expect Rs six lakh crore investment in this GIM", he said.

Unlike the previous GIM, the government is not eyeing the mining sector to lure investments, he said.

During the First GIM in 2010, the BJP government attracted investment proposals of Rs 3.98 lakh crore and had achieved a 'hit rate' of 62 per cent, he said.