GIM 2012 to exceed 2010 investments

BANGALORE: The second edition of the state government-sponsored Global Investors Meet (GIM), scheduled to be held on June 7 and 8, 2012, is expected to generate over Rs 5 lakh crore investment proposals, exceeding the previous event’s investment commitment, Major Industries Minister Murugesh Nirani informed here on Tuesday.The Minister told reporters that the previous edition of GIM-2010 had yielded investment proposals to the tune of over Rs3.92 crore, which was attended by industry leaders, various governments, trade bodies and associations, investment promotion agencies and entrepreneurs.“The kind of response received from the various road shows and other related events conducted by the ministry has received an overwhelming response,” the Minister said.Informing that the state government has taken several measures to attract investors to Karnataka as a preferred destination, the Minister said, “The state government will offer better incentives to prospective investors, which would be announced during the two-day event.”Referring to the complaint on delays after getting clearance at the StateHigh-Level Clearance Committee, the Minister said it has been decided to see that notifications would be issued within 24 hours of approval of the project proposal.The Minister said that the state government would  make all efforts and see that Karnataka is India’s preferred investment destination and “holding GIM-2012 is an emphatic initiative in this direction”. He also said the state government has decided to offer special sops and incentive proposals to corporate houses, which would come forward to establish units in the backward districts in the state.