Karnataka signs investment pledge of Rs 7.6 lakh cr

This has potential to generate 15 lakh employment, Chief Minister D V Sadananda Gowda and Chief Secretary S V Ranganath said at the valedictory function.

In addition, the state has also signed registration of interest with investors for infrastructure projects at an estimated cost of Rs 1.68 lakh crore.

Various banks signed agreements to provide term loans and working capital requirements of these investors to the tune of Rs three lakh crore, officials said.

The government was overwhelmed by the 'huge' response to the GIM, Gowda said. "We have surpassed our own expectations."

Energy sector accounted for 39.6 per cent of the investment pledge, while iron and steel accounted for 15.3 per cent. All districts attracted investment intent, Ranganath said. 20.1 per cent of the intended investment are multi-location.

He said no commitment had been given for iron ore allocation for iron and steel projects.