GIM Day 1: Tata, Birla & more

Jun 08, 2012 - N.B. Hombal and Chandrashekar G. |

Bengaluru

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Global Investors Meet

Despite scepticism from entrepreneurs and a protest by farmers over reckless land acquisition that briefly marred the opening day, the Global Investors Meet (GIM-2012) got off to a modest start here on Thursday with major investment decisions, including Rs 30,000 crore from Tata Steel, Rs 7,000 crore from Aditya Birla Group and Rs 350 crore from GE India, announced on the first day of the two-day meet.

Major industries minister Murugesh Nirani announced that the state signed 400 MoUs worth Rs 5 lakh crore investments on the first day and was hoping to tie up another 200 MoUs.

The state government had signed an expression of interest with the Japan International Construction Company to prepare a detailed project report to implement the much awaited Bullet Train between Bengaluru-Mysore, Mr Nirani said, adding, “almost all banks have given assurance of Rs 3 lakh crore worth of term loan commitments to various industrialists.”

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