The Global Investors Meet received a response from investors that far exceeded the state government’s early expectations. At the conclusion of the event, chief minister DV Sadananda Gowda said the government had received an investment commitment of Rs 7.6 lakh crore, almost double the commitments itreceived in the first edition in 2010. Experts expect about 60% of proposed projects to be actually implemented. To put things in perspective, Gujarat attracted investments worth Rs 20 lakh crore at its event last year. Gowda said the proposed investment has the potential to create 15 lakh jobs. Over two days, the government signed 730 MoUs and expressions of interest for big projects, and another 6,800 MoUs for small and medium ventures. Almost 40% of proposed investments are in power, good news given the severe shortage of power the state faces, and high cost of power that industry complains about. Udupi district, at 20%, has attracted the highest amount of investment Chief minister DV Sadananda Gowda said the investments are not concentrated around Bangalore but spread across Dakshina Kannada, Bellary, Belgaum and Udupi.
The government had made promises to review the implementation of projects during the first edition of the GIM, but didn't live up to this. But Gowda said he would review the implementation of the projects through a three-tier process. A cabinet sub-committee headed by the chief minister, he said, would review projects once in three months. A committee headed by the chief secretary will review the projects every month. Industries minister Murugesh Nirani will review the progress of the projects across various departments once every week.
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