Karnataka inks Rs2,200 crore worth MoUs on the first day of Vibrant Gujarat Global Summit

"We have learnt from our mistakes and now we are building a land bank in our state. We lost Tata Nano project due to lack of enough land and Gujarat got it, as it had the land ready," said VP Baligar, principal secretary for commerce and industries department of the Karnataka government on the first day of Vibrant Gujarat Global Summit on Wednesday.

A delegation of nearly 100, comprising more than 60 businessmen & industrialists and Karnataka government officials, are participating in the event.

The Karnataka government received some on the spot responses after their presentation in the seminar.

"We have received three expressions of interests after our seminar. So far we have got 15 MoUs signed in the steel, textile, engineering and cement sectors for investments of around Rs2200 crores," said Baligar.

Talking about VG '11, he said, "We also had a similar kind of investment summit 10 months ago and it was our first summit.
Gujarat which has organised 5 summits in last 10 years has a permanent structure while ours was held in a temporary one."
Baligar said they are creating a land bank to facilitate prompt investment in the state promptly.