Karnataka Expects To Get Rs 5 Lakh Crore Investment, Five Lakh Jobs Through The Global Investors Meet

Prime Minister Narendra Modi will virtually inaugurate tomorrow the three-day Global Investors' Meet that will be hosted at the Bengaluru palace.

Karnataka government expects that the GIM titled 'Invest Karnataka' will help bring at least Rs 5 lakh crore investment which will help generate five lakh jobs to people of the state.

Finance Minister Nirmala Sitharaman, Industries Minister Piyush Goyal, and Coal and Mines Minister Pralhad Joshi along with Karnataka Chief Minister Basavaraj Bommai and state cabinet ministers will take part in the inauguration, Karnataka Medium and Large Industries Minister Murugesh Nirani told PTI on Monday.

More than 5,000 delegates and investors are going to take part in the investors conclave. Further, on 2 November afternoon, there will be 16 group discussions and seminars where the ministers, IAS officers and investors will take part.

‘'More than Rs 5 lakh crore investment is expected from this GIM, which will generate over five lakh jobs. We will brief media about the the number of companies that will invest in Karnataka on November 4 evening,' the minister said.

According to him, the High-Level Clearance Committee headed by him has cleared investment of more than Rs 3.6 lakh crore.

He also claimed that the state has a good conversion ratio, which means translation of the Memoranda of Understanding (MoUs) into investment on the ground.