Prime Minister Narendra Modi will inaugurate a Global Investors Meet in Bengaluru in November this year, Minister for Medium and Heavy Industries Murugesh Nirani said in Belagavi on Wednesday.
“We expect that at least 100 of the Fortune 500 companies will participate in the meet. To attract more investors, we are planning to organise road shows in various countries,” Mr. Nirani said.
He was speaking to journalists before a meeting with officials on “Be an entrepreneur, provide employment” trade fair scheduled in Visvesvaraya Technological University (VTU) scheduled on Friday.
“As a run-up to the investors meet, the State Government will prepare a land bank of at least 50,000 acres. There will be around 1,000 acres in each one of the 30 districts and around 20,000 acres around Bengaluru. Land will be handed over to interested industrialists,’’ he said.
He said that he was doing all he can to attract more investment to the State and to ensure ease of business. “I am an industrialist and I have some knowledge of the sector. I can understand the problems of industrialists and I will try to resolve them,’’ he said.
He said that the State has the best environment for attracting investment. “As per recent reports, 48% of Foreign Direct Investment (FDI) in the country is in Karnataka. All the other States have a shares in the remaining 52%,’’ he said.
“We also have policies favouring investment such as a semi-conductor policy and expansion of the aerospace and defence park near Devanahalli,” he said.
He said that trade in the recent international gems and jewellery expo had crossed ₹56,000 crore in 3,500 stalls, without much advertisement. “This was the first such expo since Independence,’’ the Minister said.
He said that special steps are being taken to help more Scheduled Castes and Scheduled Tribes entrepreneurs set up their industries. “We are giving about two acres of land at 75% subsidy to Scheduled Castes and Scheduled Tribes entrepreneurs. We are also providing easy loans, land and mentorship to unemployed youth who want to set up industries,’’ he said.
Apart from lectures from successful entrepreneurs and stakeholders, the “Be an entrepreneur, provide employment” trade fair will have a grievance redressal meeting too. “It is part of ‘Our government on the doorsteps of industrialists’ approach. We will try to find on-the-spot solutions to the problems of industrialists,’’ he said.
“The State Government will inaugurate a third office of Marketing Communication and Advertising Limited, in Noida. It was to have been inaugurated on Tuesday, but the Chief Minister and other senior leaders got delayed in New Delhi. It will be operational soon,’’ he said.
Mr. Nirani reiterated the demand for an international airport for North Karnataka region. “The airports in Hubballi and Belagavi are domestic. This region should have an international airport if it has to develop. I am personally talking to some private investors to build and operate an international airport in Kittur, between Hubballi and Belagavi. I am talking to them and they are interested,’’ he said.
Kittur is the best place for an international airport as it is situated on the national highway and is not far from the sea port. Kittur is within a short distance from Karwar, where a sea port is being developed in the private-public partnership model, the Minister said.
