CM Basavaraj Bommai announces launch of 'Invest Karnataka 2022' meet

Bengaluru: Chief Minister Basavaraj Bommai announced the launch of the three-day Global Investor Meet (GIM), titled 'Invest Karnataka 2022'. The flagship investor event of the Karnataka government aims to attract investments from across the world.

The event would be held in Bengaluru from November 2 to November 4. The launch event was organised by the Department of Industries and Commerce at

the ITC Gardenia here on Tuesday night.

Karnataka last hosted a GIM in 2016, which concluded with 1,201 approved projects and MoUs valued at Rs 3,08,810 crore.

Launching the theme of the GIM 2022, "Build for the World", the Chief Minister said "Investors have always believed in Karnataka and created the capability for the state to host a Global Investors Meet. The post-Covid economic growth is the right time to invest in Bengaluru which is not only an IT, BT hub but also a financial hub."

Bommai called upon Large and Medium Industries Minister Murugesh Nirani to bring in a broad-spectrum and holistic investment across sectors - semiconductors, electronics, defence, aerospace, energy, biotechnology, IT, manufacturing, MSMEs, cottage industries. Investments that percolate down the economy.

He urged to not only sign MoUs but to materialise projects from genuine investors and showcase them at the GIM.

The Chief Minister also called on the industrialists to be the "leaders of change by investing in Karnataka".

"The aim is to envision a 'New Karnataka for New India' - creating new 21st century industrial townships and corridors," Bommai said.

Unveiling the logo, the Minister for Large and Medium Scale Industries said, "We are delighted to officially announce the much-anticipated GIM 2022."

The purpose of the GIM is to showcase the robust industrial-friendly ecosystem of Karnataka, attract huge investments from global players, and spread industrialisation across Karnataka, Nirani added.

"We have acquired sufficient land banks for the investors who would want to invest in the state. Our chief minister has presented a people-friendly budget that is a game-changer. The state is home to 400+ R& D centres, 85+ chip design houses, and is a key player in the supply chain for the global markets," he said.

The minister further called upon the industrial fraternity to uphold Karnataka in the top position.

Apart from creating favourable cost economics for the companies to invest in the state, the Government of Karnataka is working on providing a complete ecosystem to its investors, Nirani reiterated.

This edition of the GIM will be under the theme "Build for the World" reflecting on the role Karnataka aims to play in the global supply chain.

Meanwhile, Gunjan Krishna, Commissioner for Industrial Development and Director, Department of Industries and Commerce, said "Through this Global Investor Meet, we will continue to engage with the global community by bringing together business and thought leaders from a multitude of areas and sectors."

The 3-day event - Invest Karnataka 2022, will comprise plenary sessions, panel discussions, multiple networking opportunities.

Over 50 business, political, thought leaders to feature covering themes and sectors that are crucial to Karnataka's growth story.

More than 5000 senior delegates across sectors including Manufacturing, Infrastructure, IT, Energy, Education, Tourism are expected to attend.

The state government has planned roadshows in key cities and abroad to drive investments as part of GIM.