Gulbarga to host MSMI investors' meet on May 28

Source: The Hindu

MoUs worth Rs. 10,000 crore expected to be signed

Sharing information:Minister for Small-Scale Industries Narasimha Nayak addressing a press conference in Gulbarga on Sunday. Commissioner of the Industries Maheshwara Rao isseen.— Photo: Arun Kulkarni

The State government will host an investors' meet for micro-, small- and medium-scale industries (MSMI) in Gulbarga to explore the investment potential in Gulbarga Revenue division covering Gulbarga, Raichur, Bellary, Bidar, Yadgir and Koppal district on May 28.

Briefing presspersons after chairing a preliminary meeting with representatives of trade and industry in Gulbarga on Sunday, Minister for Small-Scale Industries Narasimha Nayak and Commissioner of Industries Maheshwara Rao said Chief Minister D.V. Sadananda Gowda would inaugurate the investors' meet here on May 28. Minister for Major Industries Murugesh Nirani would also participate.

Mr. Nayak said he expected that at the meet, Memorandums of Understanding (MoUs) would be signed with potential investors for investments worth Rs. 10,000 crore in Gulbarga.

He said the investors' meet was part of the Global Investors' Meet (GIM) to be held in Bangalore on June 7 and 8. While the GIM in Bangalore would deal with investment in major industries, the investors' meet held at the divisional headquarters would tap potential investment in MSMIs.

Mr. Nayak said the investors' meets for MSMI held in other parts of Karnataka including Mysore, Mangalore, Hubli-Dharwad and Belgaum were an unprecedented success, with the government signing MoUs worth several thousand crores.

At the investors' meet held in Mysore on May 4, MoUs worth more than Rs. 10,000 crore were signed; at the meet held in Hubli in March, MoUs worth Rs. 4,800 crore were signed, and at the meets held in Belgaum and Mangalore, MoU's worth Rs. 2,000 crore and Rs. 1,500 crore respectively were signed.

To a question, Mr Nayak said that investment opportunities in MSMIs was very high in the state and it had remained untapped all these years and the investors meet had helped the state to tap this potential and create more employment avenues with the opening of new industries in the tier II cities.

Mr. Nayak said Gulbarga had good potential in the MSMI sector, and the State government was confident of inviting investors from the neighbouring State of Andhra Pradesh to invest in the pharmaceutical and other industrial hubs in the Gulbarga region.

The government would set up a common effluent plant in Yadgir for the proposed pharmaceutical hub in Yadgir district.

In Gulbarga, a jewellery park was proposed to be set up along with the textile park and other industries.