Investors and government to stay online and review progress

Now that the government has signed a whopping 361 MoUs at the Global Investors Meet, what next? Organisers of the event continue to work out of Bangalore, like true denizens of the IT capital.

To ensure that the ties forged are taken to their logical end, a website karnatakainvestors helpline.com was launched at the closing ceremony of the two-day extravaganza.

“Every investor will get a password. He can log in and leave comments and suggestions. These will be reviewed every week,” said Dr KV Raju, economic adviser to the chief minister. This way, investors could make sure that documents don’t get stuck at any department.

“A cabinet subcommittee chaired by the chief minister will meet every quarter to review the progress. Also a high-level committee chaired by the chief secretary will meet every month to ensure timeliness of the projects,” he said.

The two-day event ended with a whole lot of chest-thumping and number throwing on Friday. The event that took two years to plan and execute got the thumbs up of the who’s who among industrialists going by the line-up of representatives at the closing ceremony.

Bangalore rural and urban areas won most of the 353 projects expected to be launched in the state. This would also mean that the area would get a lion’s share of the Rs4-lakh crore as investment and about eight lakh jobs that would be created. 

Mallikarjun Kharge, Union minister for labour and environment, cautioned the government. “To win the investors’ confidence, we have to deliver on the promises made on infrastructure,” he said, stressing on better roads and more power.

“The world’s wealth has to be shared. In all these endeavours, one party must not end up exploiting another,” he said adding that fertile farm land must not be given away for other use as that would endanger food security.

Chief minister BS Yeddyurappa agreed. “I will not allow farmers to undergo any loss. I assure you their interests will be protected,” he said later in his speech.

As the government spared no effort to shout about Advantage Karnataka with a slick film and impressive presentations, doubts remained on industry’s relations with the government and power supply.

“There is a need to create a different mindset,” said Dr Raghupati Singhania, vice-chairman and managing director, JK Tyre and Industries Ltd. 

“When it comes to intellectual infrastructure, the state is second to none. Good physical infrastructure is equally important,” said Vikram S Kirloskar, vice-chairman of Toyota Kirloskar Motor Pvt Ltd.