Invest Karnataka 2022: Global Investors Meet kicks off in Bengaluru

Invest Karnatak: Global Investors Meet

Bengaluru: The Invest Karnataka: Global Investor’s Meet has been kicked off today (November 1). Prime Minister Narendra Modi addressed the three-day global investors summit virtually. The event aims to set the development agenda of the state for the next decade.

From November 2-4, KGIM 2022 will be the destination for young engineers, technocrats, startups, educational institutes and global and domestic investors. There will be at least 80 speakers addressing various sessions over the course of the event and 5,000 participants are expected to attend the brainstorming sessions.

Karnataka Chief Minister Basavaraj Bommai said that the event would showcase the state’s fertile ground for innovation and investment. The CM told the media that he expects Rs 5 lakh crore investment and the State High level Committee has already given clearance for an investment of over ₹2.8 lakh crore.

Karnataka is already home to the bustling state capital of Bengaluru, the Silicon Valley of India. But investors have also shown interest in regional development and they are pinning expectations on centres like Ramanagar, Hubballi-Dharwad, Ballari, Kalaburagi, and Mysuru.

Bommai said that investors have expressed their desire to move beyond Bengaluru and explore the potential of others regions too. Already, an FMCG cluster is to come up in Dharwad; textile park will come up in Kalaburagi, Vijayapura, and Raichur districts; Pharma Park in Yadgir; Electronic Park in Mysuru and Defense production unit in Tumkur.

Speaking to the media, Karnataka Industries minister Murugesh Nirani said that investors like Hinduj, Adani, Vedanta, Reliance and others will be at the event.

According to the government, Karnataka drew the largest Foreign Direct Investment (FDI) in India last year and it is also number 1 in the ease of doing business.

The state is geared up to net investments that will boost Karnataka’s profile and bring at least 5 lakh jobs to the people.

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