Rs 1,506 crore investment expected in coastal districts

Mangalore, January 4: Chief Minister D V Sadanaga Gowda has said that a total of Rs 1.506 crore would be investment in coastal districts of Karnataka was expected by as many as 38 major investors.

Inaugurating the Coastal Business Development Summit in Mangalore on Wednesday, he said that Karnataka is an investor friendly State and all facilities and conducive trade environment would be offered to the investors coming to the State.

Speaking on the industrial environment existing in the coastal districts, he said that though the region is well connected with air, rail, road and water ways, business and industries have not been able to make a mark in the region due to some external factors.

He said that the internal income of the region was nine per cent during 2008-09, of which Dakshina Kannada district had five per cent while Udupi and Uttar Kannada had mere two per cent contribution. District Industrial Progress of Dakshina Kannada was 31 per cent during this period while Udupi and Uttar Kannada was 29.8 per cent and 25.7 per cent respectively.

Speaking about the Global Investors' Meet held in Bangalore in 2010, the CM said that the event was a huge success which saw ushering in of an investment of Rs five lakh crore. As many as 387 MoUs were signed promising six lakh job openings.

“As many as 288 projects have already taken off while 89 projects nearing completion,” said the CM.

During the programme, 38 investors including MRPL with a romping Rs 1,100 crore project signed the MoU with the State. Minister for Small and Medium Industries Murugesh Nirani said that an area of 1.19 lakh acre has been set aside for the Land Bank in the State and preliminary steps have been taken to acquire 89,000 acres of land.

Udupi District-in-Charge Minister Dr V S Acharya said that the primary sector in the region contributes to only 19 per cent of the gross production of the State while manufacturing sector contributes to 21 per cent while the tertiary sector (service sector etc) contribute to 45 per cent.

“This means that we need to give importance to tertiary sector,” said Dr Acharya.

Minister for Primary and Higher Education Kageri Vishweshwara Hegde, Federation of Karnataka Chambers of Commerce and Industry (Bangalore) President J R Bangera, Kanara Chamber of Commerce and Industry President Latha R Kini among others were present.