The Global Investors Meet (GIM) was held in Bangalore Karnataka for 2 days on June 4 and June 5, 2010. During the meet 361 MoUs [memorandum of understandings] were signed which were valued approximately Rs 450,000 crore. If all investments come as promised, Karnataka will be able to create 850,00 new jobs in sectors ranging from steel, cement, auto, energy and information technology.
Pessimism does exist amongst citizens how many of these will turn to real projects. MoUs can after all just be on paper. The only way to make it real is for the govt to ensure speedy approvals for all MoUs but at the same time they should scrutinize every MoU, they should not approve just for the sake of approving.
Sector Wise Break of MoU signed during GIM-2010
|Sector||No of Projects||Investment (In Rs Crores)|
|Food Processing||30||Rs 2,049|
|Infrastructure Development||19||Rs 2,942|
|Proposals receive during GIM||58||Rs 82,114|
|Petroleum process||7||Rs 18,513|