State rolls out the red carpet for investors

State rolls out the red carpet for investors

Workers are labouring round-the-clock to put up the main business stage with capacity to hold 3,000 people, where official businesses will take place. Also under construction are four session halls with 400 people capacity each and a mega exhibition hall to accommodate nearly 120 stalls. A dining area and meeting lounges along with space for registration and a media centre are also being put up.

According to the organisers, nearly 50,000 sq ft area at the venue will be turned into a high-tech hub to enable investors to do business. A separate hall is being put to sign memoranda of understanding (MoUs) during the event. The State Government is expecting to over 3,000 delegates from across the globe and hopes to sign nearly 400 MoUs.

Horticulture Department staff will decorate the venue with flowers and ornamental plants. An entertainment and a cultural fair enclosure portraying the State’s rich heritage are also being put up. Arrangements are being made for parking 5,000 four-wheelers and 10,000 two-wheelers with entry from Vasanthanagar gate and exit from Jayamahal gate.

Bank loans
Industries Minister Murugesh Nirani inspected the preparatory work on Monday.
He told reporters that all steps have been taken to ensure that the GIM is a grand success. “We are also ensuring the presence of almost all nationalised banks at the event to facilitate investors approach them with their proposals seeking loans,” he said.
Of the expected Rs four lakh crore investment, investors would be looking for term loan from banks to the tune of Rs 1.5 lakh crore. All nationalised banks have agreed to extend support in this regard. The Syndicate Bank has recently assured the government that it is ready to extend the term loan up to Rs 6,000 crore to investors, Nirani said.

The minister said steps have been taken to create a land bank, making available skilled manpower and creation of industrial corridors to expedite the investment process. Reforms have been brought in with respect to the project clearance system. With these facilities, the Government is confident of implementing at least 60 per cent of the project proposals in next two to four years, he added.

The minister said a 10-member delegation from Tata group met top officials of the Government on Saturday to discuss their investment plans involving Rs 10,000 crore in various sectors. He further said investors can file their applications till 12 noon of June 4 for the Government to process them. Another High Level Clearance Committee meeting will be held on the same day to clear projects.]
“If an application is from a reputed company, it will be processed immediately and if possible, the MOU will also be signed,” Principal Secretary to Commerce and Industries V P Baligar said.
DH News Service

220 projects get green signal
The State Government has cleared 220 projects, each with investment more than Rs 50 crore in the last two years.
The government is expecting an investment of more than Rs 4.5 lakh crore if all projects are executed.

Cultural programmes
Cultural programmes will entertain the investors gathered for the two-day event. Renowned cultural troupes will perform after the official deliberations on both the days. A special 45-minute dance drama titled Karnataka Vaibhav on the architect of Bangalore, has been choreographed by popular dancer Dr Maya Rao. The presentation focuses on history of Karnataka and its rich heritage.
Wellknown musician Pandit Narasimhalau Vadavati (Clarionet), Suma Sudheendra (Pancha Veena) and Dr Mysore Manjunath (Violin) will perform on the occasion. Popular singer Kikkeri Krishnamurthy and his troupe will recite Naadageethe in the inaugural session.