Global Investors Meet: Three fourths of projects signed up will take shape over five years, says minister Nirani

Karnataka's Industries Minister Murugesh R Nirani on Tuesday said three-fourths of the projects signed up with investors at the global investors meet (GIM) last month will take shape over the next five years.

The government has signed only those MoUs where investors were serious about their projects and planned to start work soon, the minister said at a meet-the-press organised at the Press Club of Bengaluru.

The GIM, he said, ended successfully with an overwhelming response with investment commitment of about Rs 9.82 lakh crore. The government will appoint nodal officers to process and clear MoUs of fresh projects in three months. District-wise coordination committee and nodal officers will take care of providing basic infrastructures like land, water, and power for the implementation of projects.


Although many investors came later offering to invest Rs 2 lakh crore in addition to Rs 9.81 lakh crore already committed, the government has not signed up with them, but would instead seriously pursue the projects already signed up.

Over 90% of the projects had been proposed outside of Bengaluru, Nirani said.

On Monday, a single-window committee led by the minister cleared 59 investment proposals worth Rs 2628 crore, promising 9764 new jobs.