Karnataka registers big investment flow at WEF meet in Davos : Basavaraj Bommai

Bengaluru : Karnataka Chief Minister Basavaraj Bommai claimed that the state is in the forefront of attracting investments at the World Economic Forum (WEF) meet. The Davos trip has proved a success for Karnataka, he said. “This is the biggest investment flow the state is registering in the recent past,” he said after returning from Davos meet in Bengaluru. The state government has succeeded in drawing total investments of Rs 59,350 crore with its participation at WEF Meet in Davos, he explained. World Economic Forum Meet-2002 was held at Davos from May 23 to 26. The investments are a proof of immense trust and faith Karnataka enjoys among the top corporates of the world, he said. Two major companies have inked MoUs with the government of Karnataka to invest a total Rs 52,000 crore, he said. Jubilant Group, Hitachi Energy, Siemens, Ab Inbev, Dassault Systems, Nestle, ArcelorMittal, Bharti Enterprises are among the prominent companies which have assured to invest in the coming years, he explained. The state government has assured special incentives for setting up advanced manufacturing of medical devices to cater to the local market with an investment of Rs 300 cr.

Thus the company is keen to invest a total of over Rs 1,600 cr in the state. He stated that under the ‘Beyond Bengaluru’ programme, the state government discussed investment opportunities in cities like Tumakuru, Hubli-Dharwad, Mysuru, etc. The statement of the CM office said, heads of major multinational corporations and prominent non-resident Indian entrepreneurs participated in the breakfast meeting hosted by Chief Minister Basavaraj Bommai at Davos. They included founder of Indiaspora in the US, M.R. Rangaswami; Chairman of Indorama Corporation in Singapore, Prakash Lohia; Managing Director of Hitachi Japan, Bharat Kaul; Chairman of VPS Healthcare in the UAE, Shamsheer Valayil. Discussions with these corporate honchos included opportunities for setting up mega Textiles Park at Bijapur/Kalaburagi, production of Metro Train coaches and pharma units. The CM also held deliberations with the head of Isha Foundation, Sadguru Vasudev on state government’s initiatives for conservation of environment and soil fertility.