Karnataka to hold global investors meet in November 2022

Bengaluru: Karnataka will host global investors meet (GIM) in November 2022 to attracting more investments and job creation, State Minister of Large & Medium Industries Murugesh Nirani said on Friday.

The State government plans to set up a bulk drug-manufacturing park in Yadgir district, he said.

The Minister was replying to a question raised by Congress MLA from Chittapur Priyank Kharge during Question Hour in the Legislative Assembly.

“We are organising a global investors meet in November 2022 called ”Invest Karnataka” to attract more investments and push industrial growth,” Nirani said.

The Minister”s office, in a press release, said the GIM would be held between November 2 and 4, 2022.

“I will hold a discussion with Chief Minister Basavaraj Bommai again and confirm the date,” it quoted him as saying.

On the drug park, he said the government would set it up in collaboration with the Centre.

“The Central government will provide Rs 1,000 crore grant to set up the bulk drug park and Karnataka is one of the three States chosen for this project,” he said, adding that already about 1,500 acres of additional land are being acquired near Kadechur in Yadgir district for this, and there is also plan to have ATP and waste water treatment plant there.

Pointing at Tata Nano opting for Gujarat in 2010, Minister Nirani said the company couldn’t invest in the State due to lack of a land bank.

“Then Chief Minister B S Yediyurappa had discussed with the company chiefs to bring it to Dharwad, but the company moved to Gujarat as 1,000 acres of land were not readily available at the right time. So, we introduced the land bank concept which helped many industries set up shops here,” he said.