From Our Special Correspondent
Daijiworld Media Network

Bangalore, Oct 24: Karnataka’s Global Investors Meet (GIM) seem to be jinxed. First, it was postponed due to the economic recession. And, now, the recent unprecedented devastation caused by north Karnataka’s worst-ever flood havoc has forced the state government to put off the GIM yet again.

The GIM scheduled to be held here on January 11 and 12 is likely to be held either in the last week of May or in the first week of June 2010 in Bangalore. 

A decision to this effect was taken at a high-level meeting chaired by Chief Minister B S Yeddyurappa in Bangalore on Friday as majority of the officials present at the meeting favoured postponement of the mega event to showcase investment opportunities in the state.

Briefing media persons after the meeting, Karnataka’s Large and Medium Industries Minister Murugesh R Nirani said the entire administrative machinery was busy in taking up rehabilitation works in flood hit 18 districts of north Karnataka.
In addition, a 20-day State legislature session is being held in November. The relief and rehabilitation work of the flood affected regions as also preparations for the legislature session would keep the government machinery completely busy allowing little time to prepare for GIM, Nirani said.

He pointed out that the Presidents of Federation of Karnataka Chambers of Commerce and Industry, Karnataka Small Scale Industries Association, Laghu Udyog Bharati too have suggested to the government to postpone the GIM.
The Industries Department, however, would continue its preparations for holding the GIM in May or June, he said disclosing that a target of attracting Rs. 2 lakh crore investments during the GIM has been set.

The Chief Minister will hold one-to-one talk with top 25 industrialists of the country while he and his department officials would meet industrialists of 100 mid-size companies in the coming days to attract investment to the State.

Several companies from China, Germany, UK, France, Japan, and US have shown interest to invest in energy, aerospace, cement, information technology, biotechnology and automobile sectors, Nirani said adding: ``the government is also in talks with South Africa, South Korea, Germany, Brazil, Japan, and Russia to take part as partner countries and with Bavaria, Georgia, Chicago, New York, and California as partner states for the mega event.’’

The government is holding talks with Confederation of Indian Industry and Federation of Indian Chambers of Commerce and Industry (FICCI) for Associate Partnership for the event.

`Five tasks forces had been constituted for the purpose,’’ he said pointing out that Germany-headquartered BOSCH had come forward to invest Rs 1,000 crore and J K Tyres Rs 1,500 crore in Karnataka.

A total of 70 companies had already registered for the GIM. The state had attracted investment of Rs 172,376 crore in 530 projects after the BJP Government came to power in May 2008, he added.

Mr Yeddyruappa had led a high level delegation a few months ago to China to lure investors to the meet and had announced that ministerial teams would travel to various other countries, which evoked criticism from opposition parties.