Karnataka clears Rs.34 billion investment

 Karnataka has cleared Rs.34 billion (Rs. 34,000 crore) investment proposals with potential to provide jobs to over 150,000 people, an official release said.

The approval for 37 projects, including four in Bangalore with over Rs. 4,000 crore investment for IT and related sectors, was given by the State High Level Clearance Committee late Monday, the industry ministry said Tuesday.

Steel and iron sector attracted the highest investment of over Rs.8,000 crore, followed by power (Rs.5,000 crore).

The projects are spread over 17 districts.

The statement noted that out of the over 750 investment agreements signed during the 2012 Global Investors Meet in Bangalore, 19 projects with an investment of nearly Rs.5,000 crore were under implementation.