Chief Minister DV Sadananda Gowda on Friday claimed that the Global Investors’ Meet –2 (GIM) had been a resounding success, with a promised investment of Rs7.6 lakh crore. But the boast also included a dig at the GIM-1 held in 2010 during the regime of his predecessor, BS Yeddyurappa.
Gowda said that many deals struck at the previous GIM were an embarrassment to the government and he had no hesitation in accepting the fact.
Replying to a query over the decline in the number of investors with regard to the mining sector in GIM-2, Gowda said he did not want to comment on the issue since everyone knew as to how the previous GIM went. Gowda said some companies were interested in investing in the mining sector, but the numbers were not on the scale of the last GIM, as everyone knew about the Supreme Court’s decisions and Central Empowered Committee’s (CEC) report on mining.
The chief minister said the government had already asked the Supreme Court to lift the cap on mining in the state and increase it to 40 million tons. “This would help mining industries in the state to carry out their business,” he said.
Gowda also clarified that fertile land will not be acquired for industrialisation and there had been clear instructions to this regard.
When asked as to how the state was going to arrange land for industries, Gowda explained that the state government already had 26,000 acres in the land bank and the acquisition of 42,000 acres was in the final stage.
Gowda also spoke about the issue of misuse of allotted land by companies. The chief minister said the government had made it clear that companies will have to utilise the land and start production within five years. “If the land remains vacant, it will be taken back,” Gowda said.
To monitor the implementation of the proposed projects, a committee headed by the chief secretary will monitor the progress every month, added Gowda.
