Mysore, June 5 (JP)- The heritage city's hopes of getting at least a small chunk of the 56 new projects for which 'expressions of interest' have been signed at the Global Investors Meet in Bangalore yesterday have been dashed. The new projects when they translate into action will swell the State's exchequer by Rs. 78,000 crore.

Sajjan Poovayya, Chairman, Karnataka State Council of the Federation of Indian Chambers of Commerce and Industry (FICCI), who spoke to SOM from Chennai today said, "The success of a Global Investors Meet should not merely be gauged from the monetary value of projects cleared, approved or signed during the event, although that does provide an indicator. The State and its population will not benefit unless the projects approved are implemented without cost and time overruns. Successful implementation of mega industrial projects will lead to tangible social advantages in terms of creation of better infrastructure and generation of employment."

Commenting on the fact that Mysore did not get a single expression of interest signed, city industrialist P.V. Giri of Siddartha Group said, "It is because the politicians lack the will to really push Mysore as destination both for the industry as well as the upmarket tourist. Time and again the issue (of Mysore's development) has been raised at various forums from the 1980s onwards. Then we had pressed for improving connectivity to the city. After a decade, we got the Railway broad-gauge. As far as the road connectivity is concerned, we are yet to see it. In fact it was in the 80s that we had pressed for a functional airport and now we have an airport but there does not seem a political will in making it operational."

When SOM asked about the MoU signed by United Breweries (United Spirits) to set up a beer manufacturing and bottling unit here in Mysore, Giri was very doubtful. "You must understand that it is only an expression of interest," he said and added, "It is my feeling that there will be no investments in Mysore at all."

Shaji Mathew, Vice-Chairman, Confederation of Indian Industry (CII), Mysore Zone, said, "You will notice that 90 per cent of the MoUs have been signed for investments in the steel, cement and mining sectors with some for the power sector."

"If you are thinking in terms of investments here by the IT and BT segments, then you need to talk of better connectivity… we have not seen that happening here," he added.

Courtesy : Star Of Mysore