Mandya district fails to attract investors

The Global Investors Meet (GIM) that was held in 2010 and 2012 in Bangalore had raised a lot of hope among the unemployed youth here, as a large number of investors had shown interest to open shops in Mandya district, investing crores of rupees.

But after three years, the hopes are fading away, as, apart from a few, no businessman is willing to set up industries.

During the GIM that was held in 2010, five investors had come forward to set up industries in the district. An investment of Rs 478.29 crore was expected and estimated to provide job opportunities to at least 959 people.

Out of five, only two industries have been set up with an investment of Rs 48.78 crore and providing jobs for 289 locals. While another industry is underway with construction still in progress, there are no signs of the remaining two.

The GIM that was held in 2012 was very promising with 48 investors guaranteeing to invest Rs 572 crore and providing job opportunities to 2,277 people.

Thirty two businessmen in the Rs three crore investment category, and 16 businessmen in the less than Rs three crore investment category had made agreement with the State government to invest Rs 58.42 crore.

Out of 48 industries, only seven have begun businesses and only a meagre Rs 23.01 crore has been invested out of Rs 572 crore.

When 11 industrialists came forward to invest Rs 254 crore for agriculture and food processing industries in the district, the farmers, majority of who are agriculture-based, believed that their door for opportunity has opened. But ironically, only one industry related to agriculture has put up shop here.

Many industries related to engineering, garments, minerals, electricals and electronics, tourism were to be started. But, no one has turned towards the district. District Industries Centre joint director Anand said that a meeting was convened with the investors who had made an agreement with the government during GIM. But, many investors did not attend the meeting and there was no response to the letters sent, he added.

Some of the reasons for the industries to hesitate to begin businesses in the district is said to be non-availability of land, basic amenities, transport facilities and skilled workers. Some have declined to start business, with the change in power in the State, it is said.
The youth of the district who thought that migration to other cities in search of jobs will come to an end, are a disappointed lot and their efforts to find jobs at places away from their native, continues.