IK-2016 attracts investment proposals worth Rs 1.33 lakh crore in two days
Bengaluru: The state government’s Invest Karnataka 2016 has brought in investment proposals worth Rs 1,33,177 crore in two days, Industries Minister R.V. Deshpande said on Thursday, with a potential to create nearly two lakh jobs.
In all, in the last 10 months, the state has received investment proposals of over Rs 3 lakh crore, which could create 6.7 lakh jobs, the minister added, describing it as an “overwhelming response” to the government’s efforts to attract investors.
The government had received investment proposals for 1,201 projects, in all worth Rs 3,08, 810 lakh crore in 2015-16, of which projects worth Rs 1,75,633 lakh crore had already been approved by the the High-Level Committee, various departments and district level agencies, the minister said.
Besides these, the Centre — mainly the Surface Transport and Chemical and Fertilizers ministries — have promised Rs 1.33 lakh core investments into the state. The government had worked round-the-clock to make Invest Karnataka a success. Close to 10,000 delegates attended from around the world, Mr. Deshpande said.
The Energy sector has received the highest investment value, totalling over Rs 1 lakh crore, most of it in renewables such as solar, wind and energy from waste projects.
The government has signed memoranda of understanding (MoU) totalling investments of Rs 38,000 crore, promising 6,000 jobs, in the steel sector.
The chemicals sector saw investment proposals of about Rs 24,000 crore, potentially creating 5,000 jobs. Investments will also come into manufacturing, pharma, bio-technology, IT, agro-based industries, textiles, telecom, infrastructure, tourism, oil and gas and aerospace, Mr. Deshpande said. The projects approved during the 2015-16 financial year are in multiple sectors and are located across the state, including in the districts of Ballari, Dakshina Kannada, Udupi, Tumakuru, Shivamogga, Bengaluru Rural and Kolar.
These approvals include 699 cleared by the district-level single window committee to draw in Rs 1,928 crore, with a promise of jobs for 10,934 people. Of these, 242 proposals were for manufacturing, 192 for agro-based food industries, 150 in textiles.
The state-level single window committee has approved 262 proposals for investments totalling Rs 15,246 crore, jobs potentially for 1.15 lakh people.
The high-level committee approved 29 proposals for investments of '90,831 crore that would generate 1.72 lakh jobs, the minister said.
In all, the government had at various levels cleared 991 investment proposals totalling Rs 1.08 lakh crore, with a potential to create 2.18 lakh jobs, during 2015-16, according to figures provided by the Industries department.
The government has appointed a special officer to follow up on all projects for quick implementation. Mr. Deshpande said the government will give final approvals to all projects before May 15. "We will leave no stone unturned to make the MoUs a reality. The government is also coming out with a new entity to ensure ease of doing business. This entity will work closely with Udyog Mitra," he said.
