Large and medium industries minister, Murugesh Nirani presents his vision for the rapid development of the state by igniting the minds of the youth.
The Global Investors’ Meet (GIM) is not just a conclave of industry captains; a platform from which to explore the opportunities being offered by Karnataka to expand their businesses. It is the beginning of a mission. A mission to transform the approach of our youth towards their careers and life. Inspiring them to transform from being mere job-seekers to job makers.
Large and medium Industries Minister, Murugesh Nirani, who is DNA’s guest editor, presented his vision for the rapid development of the state by igniting the minds of the youth to embrace the spirit of entrepreneurship.
Interacting with Team DNA Nirani, himself an industrialist, explained the ongoing preparations for the GIM and how it could change lives of Bangaloreans for the better; and herald a beginning of economic prosperity for economically backward northern Karnataka.
The state government hopes to attract Rs4,00,000 crore in investment proposals at the GIM which is expected to be attended by over 3,000 delegates.
Bangalore will benefit
Traffic congestion in Bangalore is making life miserable. So a slew of infrastructure projects have been lined up for implementation through private participation. Most of these projects will find private partners at this GIM. The High Speed Rail Link to Bangalore International Airport, the mono-rail feeder service and the Metro and Peripheral Ring Road are some of the major projects that could get a big push at the GIM from private investments.
The Bangalore Sub-City project that has been drawn up near Devanahalli is spread over 3,000 acres of land. Of this, over 200 acres have been reserved for a residential township for those who work there. Ultimately ‘Walk to Work’ is an ideal solution.
Aerospace, IT and financial hubs planned near Devanahalli will generate over 10 lakh jobs. Care has been taken to bring only non-polluting industries to Bangalore.
Land bank ready
Finding land for mega projects is one of the big challenges and action has already been initiated to set up a land bank of 100,000 acres spread over all districts. Final notification to acquire 14,000 acres has been issued. A preliminary notification for another 50,000 acres is also out and a survey for another 50,000 acres is being conducted. The acquisition process has been smooth as the government is offering attractive compensation and the land is mostly arid.
For the land near Bangalore International Airport, farmers are getting Rs75 lakh an acre. At this rate 3,000 acres have already come into the government agency’s kitty. This will be sold to industries at Rs1.8 crore. Thus the government has removed the biggest obstacle facing an industrialist. Nearly 80 per cent of farmers have offered, voluntarily, to give land to the government. In Mangalore there was no resistance to acquiring 700 acres for the SEZ.
Power not a problem
It could be a power packed show on the energy front. The government has lined up investment in the power sector that could add 12000MW to the state grid. The investment will be in thermal, gas, hydro and solar energy sectors. The gas corridor, which bisects Karnataka may turn out to be the bright light in South India. Nearly three gas-fired power plants coming up over the next five years will light up homes and run industries in the state.
Not just steel and cement
Based on the raw materials available in the area, specific plans have been drawn up to enable the industrialisation of all regions. Huge deposits of iron ore and limestone in northern Karnataka will be fully tapped, with steel giants Arcelor Mittal, Tata, Jindal and Surya Roshni agreeing to set up mega steel plants. The world’s largest cement producer Lafarge is coming to the GIM to finalise a deal setting up a giant plant and so will Reliance Cements.
But the GIM is not just confined to the steel and cement industries. Big names in IT, ITES, aerospace, engineering, financial services and food processing are coming to announce their huge projects.
On-the-spot finance
A special feature of the GIM is an elaborate tie-up with leading banks and other financial institutions for on-the-spot financial assistance to ensure speedy implementation of projects. Thus one of the main requirements of turning investment proposals into reality will be met immediately on signing of an MoU. Ministers and secretaries of almost all ministries will be present at the GIM to act as facilitators and remove any obstacles.
The progress of implementation of investment proposals will be reviewed by a committee headed by the chief minister.
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