Mysore, June 8 (KMC) - Owing to the non-availability of functional infrastructure, connectivity and ample land, Mysore region could garner only Rs. 3,108 crore by way of investments in the Global Investors' Meet (GIM) that was recently held in Bangalore, as against the total investment of Rs. 3,91,000 crore in the State, said Aroon Raman, Chairman, Confederation of Indian Industries (CII), Karnataka.

Addressing a press conference at Hotel Metropole last evening, Raman said that contrary to the general impression, most of the investments are in the north Karnataka districts where production units like steel, cement and minerals will be set up since the raw materials are available there and land value is much lower.

Mysoreans need not be disheartened since being close to Bangalore, Mysore city cannot be ignored by way of development.

Major among the investments in Mysore region are the RBI's currency paper unit at a cost of Rs. 1,200 crore and Nestle India Food Processing Unit at a cost of Rs. 350 crore, Raman said, adding that the GIM had been a huge success, compared to previous such meets.

Recalling a similar exercise to attract investors to the State when S.M. Krishna was the Chief Minister, Raman said that out of the total sum assured, more than 50 per cent had materialised by way of actual implemented projects. Considering this, even 50 per cent of the assured investments, that is nearly Rs. 200,000 crore was quite a sizeable sum for the State's development, creating at least 7,00,000 direct employment opportunities and four times the number (about 3 million) as indirect employment, he said.

"The CII had played a vital role in attracting investors by creating publicity through its network of 800 member-companies and more than 80 offices abroad," Raman said and added that office-bearers of CII had widely travelled within and outside the country with the Industries Minister Murugesh Nirani, IT&BT Minister Katta Subrahmanya Naidu and others and met investors to market Karnataka aggressively.

As such, the State Government has offered to set up a Joint Task Force involving the CII, said Raman and added that the Task Force will look into the monitoring and implementation of the projects.

It will take at least a year for a clear picture to emerge about the actual investments made, Raman said and attributed the delay to factors like land acquisition, obtaining permission from the Forest Department, river water-sharing, power, etc.

CII Mysore Zone Chairman Shaji Mathew, Vice-Chairman Biswajit Mitra and Secretary T. Dinesh Kumar were present.

Courtesy : Star Of Mysore