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Summit Expected To Bring In Investment Of Rs. 6,000 Crore
May 01, 2012

Summit Expected To Bring In Investment Of Rs. 6,000 Crore


01 May 2012

Mysore: The Mysore Region Business Development Summit expects to attract investment of Rs. 6,000 crore. Also, it is expected to generate nearly one lakh jobs in the region.

The business summit, which will be held on May 4 in the city, is being organised by the Federation of Karnataka Chamber of Commerce and Industry (FKCCI) and the Mysore Chamber of Commerce and Industry (MCCI), in association with other partners.

Already, 118 MoUs have been signed in the run-up to the summit which, the organisers claim, can generate 23,000 direct jobs, while the indirect employment generated can be up to three times more.

This was stated by FKCCI president J.R. Bangera, who pointed out that the summit would attract investments and public-private partnership projects to the region from the private sector.


Addressing presspersons here on Monday, Mr. Bangera said the objective of the summit was to provide a forum for the State government, private sector agencies in the areas of manufacturing sector, tourism, infrastructure and food processing to interact with investors and entrepreneurs. There was an immediate requirement of 1,342 acres of land to implement the signed MoUs.

The Karnataka Industrial Areas Development Authority was in possession of 1,680 acres, MCCI president Sudhakar Shetty said.

However, Mr. Bangera pointed out that in view of the steep increase in land prices, the FKCCI and other stakeholders had submitted a proposal to the government to make land available on rent-cum-lease basis for a period of 5 to 10 years.

Mysore was reckoned to have a better industrial base than Chamarajanagar, Mandya, Kodagu, Chikmagalur and Hassan.

These districts would receive special attention, he said. A preliminary meeting will be held between the investors, district-level leaders and local industrialists here on May 3.

The summit will be inaugurated by Chief Minister D.V. Sadananda Gowda.