50,000 acres available in landbank’, says CM Bommai

Fifty thousand acres with good infrastructure facilities are available in landbank of various districts, informed Chief Minister Basavaraj Bommai, speaking at the valedictory of Invest Karnataka 2022 Global Investors meet here on Friday, he said land is available in Hubballi-Dharwad, Mangaluru, Kalaburagi, Ballari, Mysuru and Tumkur districts in landbank. The Shivamogga and Vijayapura airport will start functioning soon. Besides, a full-fledged airport is under construction in Karwar. Besides, a 6000 km national highway road is under construction. The basic infrastructure and policies of the state government will not disappoint investors. This meet will be the strong foundation for economic progress of the state in the next phase.Implementation of signed MOUs in next three months

The CM said as much as 9.8 lakh crore business agreements are signed in the current GIM of which already Rs 2.83 lakh crore proposals have been approved. This time, before the GIM begins, nearly 29 per cent of proposals are approved. The Department secretary has been asked to take steps for Rs 10 lakh crore investment proposals to become reality within the stipulated period. All agreements that were signed in the last three days must be implemented within the next three months. Thereafter a transparent report must be placed before the people after three days.

Bommai said the first GIM was held in 2000 in which Rs 27,000 crore investment was proposed of which 44 per cent investment was made. In 2010, Rs 3,94,768 crore investment promised of which only 14 per cent became reality. In 2012, Rs 6,77,158 crore investment was proposed of which only 8 per cent investment became reality. In 2016, Rs 3,05,000 crore investment was promised and only 15 per cent investment was made. However, this time it will not be allowed to happen. No government will tell reality but the incumbent government will keep all facts and figures before the people of Karnataka.
Kannadigas must develop the capacity to make investment
He said Kannadigas must have the capacity to make investment. Of late, the Dalit industrialists are coming to core sectors. Intelligence or hard work is not the propriety of any caste or community as success will come for those who do work honestly. The GIM must attract youths and they must be in a position to sign business proposals in the next meeting. Here, there is both investment and motivation. This meet has created both encouragement and passion.
‘Made up mind to make investment during economic recession around the world’

Holding the GIM in this situation is most important and special. This meet was very than other previous meets. The entire world is hit by economic crisis including the developed nations. But in India, Karnataka took a bold step to hold this event at a time when the world is busy in saving its people from crisis. The results are before them. “You have come here with confidence in the State of Karnataka. We are stepping forward when the economic giants are consolidating their position. We have understood the fact that the state’s strength is our people when the economic activities are slowly improving post Covid-19 pandemic. Ours is a government which has vision and the policies are our strength. The investments have improved and what Karnataka thinks today is thought by the nation tomorrow. The investment proposals are the silver line in the dark clouds of recession. Results come through hard work. We are changing our style or working and vision and ready to face the new challenges. Karnataka is producing nearly 63 per cent of renewable energy and this sector needs change”, the CM said

Bommai said Karnataka is into competition with the gulf countries and intends to manufacture Hydrogen fuel and Ammonia. The state plans to manufacture Hydrogen Ammonia fuel and permission will be given on a first come first basis. “Ours is a serious government and we need seriously interested investors. In this meet, nearly 9 lakh crore investment is expected but it must be implemented. Those who have given assurance must set up the units here and with mutual cooperation they must convert the challenges into opportunities. Karnataka is the only state to provide good infrastructure and has provided it on the outskirts of Bengaluru. Hitherto, Bengaluru was an IT/BT hub but now it is becoming an economic hub too.

He said Union Minister Bhagwant Khuba has been extending all cooperation from the union government. The bhumi puja was performed for the CIPET unit in Bidar. Large & Medium Scale Industries Minister Murgesh Nirani and his team of officials are working well with the global investors.

Union Minister Bhagwant Khuba, Industries Minister Murgesh Nirani, Energy Minister K.Sunil Kumar, Chief secretary Vandita Sharma, Additional Chief Secretary (Industries Dept) Dr.E.V.Ramanareddy, Commissioner Gunjan Krishna were present.The Chief Minister gave away prizes to the winners.