An investment of Rs 4 lakh crore, 353 MoUs and 8.65 lakh new jobs. That’s the final tally at the end of the two-day Global Investors Meet(GIM) held in Bangalore. BS Yeddyurappa and his colleagues have much to cheer as they have achieved the objective with which they had held this ambitious meet attended by the ‘who’s who’ of India Inc and over 5,000 delegates. Tucked away in fine print was the fact that BSY’s colleague, tourism minister Janardhana Reddy’s company Brahmani Industries, emerged as the biggest investor at GIM with its proposed 6-million-tonne steel plant at an investment of Rs 36,000 crore easily outstripping L N Mittal’s more-hyped Rs 30,000-crore project, also in Bellary. Korean steel giant Posco, virtually out of the race before the GIM as the state government and the company couldn’t agree on terms, is back in the fray having signed an MoU for another 6-million-tonne steel plant. The CM said he would review the progress every quarter, and chief secretary S V Ranganath every month. The government is signing MoUs with banks to provide financial support. While the mega MoUs had been signed on Thursday, Friday saw proposals for a World Trade Centre at Devanahalli being made by an Emirati consortium. The IT sector saw a clutch of MoUs being executed proposing Rs 40,000 crore of investment. The automobile sector also saw a lot of action with investments flowing into many sub sectors. A detailed project report on mono rail was submitted to the CM as many are willing to finance the project. While the GIM ended on a high note, Bangaloreans will mourn the end of the two-day event as it will be lights out after two days of continuous power supply. The GIM would be a real success if all the investment results in power outages become history.
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