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2012-06-07

Karnataka looks at over Rs 20,000 cr investment in MSME

The Karnataka Government is eyeing over Rs 20,000 crore investments in micro, small and medium enterprises (MSME) sector in this year's two-day Global Investors Meet (GIM), which started on Wednesday.

The Karnataka Government is eyeing over Rs 20,000 crore investments in micro, small and medium enterprises (MSME) sector in this year's two-day Global Investors Meet (GIM), which started on Wednesday.

"About 8,000 companies are participating in GIM 2012 and we are looking at over Rs 20,000 crore investments in MSME sector," a top government official told reporters. Chief Minister D V Sadananda Gowda inaugurated the meet.

The Best part of this year’s GIM is that many participants are cluster-based companies like plastic, packaging, machine tools, medical equipment, precision engineering, areospace and pharma among others, the official said.

He further added that companies from Mysore have committed an investment of Rs 12,000 crore , those from Belgaum of Rs 2,000 crore, Rs 4,000 crore investments would come from companies based in Hubli-Dharwad and Rs 1,000 crore from Dakshin Kannada district companies.

Industries in and around Bangalore have committed an investment of above Rs 5,000 crore, the official said.

More than 30 countries including Italy, Japan, Mexico, UK Cannada, Taiwan and Germany, among others, are participating in the meet, he told reporters.

Some of the key participants in the expo are JSW Group, Honda two-wheelers, Grasim, Suzlon, Gail, Zuari Cements, SBI, Tata Motors, Toyota Motors, L&T, Indian Oil Company, HAL, NAL, DRDO, Mangalore Refineries and Petrochemicals Limited.

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