7 countries to partner with State for Invest Karnataka meet

As many as seven countries – France, Germany, Japan, Italy, the United Kingdom, Sweden and Korea – have partnered with Karnataka to promote investments in various sectors, including aviation, during the upcoming global investors meet, Invest Karnataka-2016, to be held in Bengaluru between February 3 and 5.

Addressing the media after chairing a meeting with industry representatives and officials, Industries Minister R V Deshpande said as many as 145 project proposals were up for grabs, out of which 45 infrastructure projects were in Bengaluru alone.

The meet to be held in Palace Grounds will be inaugurated by Union Finance Minister Arun Jaitley.

Fertilisers & pharma

He said one of the focus sectors was pharma and fertilisers. Following discussions with Union Chemicals and Fertilisers Minister Ananth Kumar, Karnataka had agreed to give land for setting up a fertilisers park (500 acres) and establishing a Central Institute of Plastics Engineering and Technology research centre (5 to 10 acres), he said.

According to officials, the government is looking at attracting investments of anywhere between Rs 2 lakh crore and Rs 3 lakh crore during the meet. The Industries department alone is looking at attracting Rs one lakh crore investments.

City inspection

In an attempt to improve infrastructure in Bengaluru, Deshpande said he would conduct an inspection of the City on January 20. “We want to ensure that all roads in the City are kept in order. We are also taking up beautification of the City. During the meet, both the Bangalore Palace and the Vidhana Soudha will be illuminated,” he said.