BANGALORE: Aiming to cash in on the success of its first edition, the curtain raiser event of the Global Investors Meet (GIM) 2012 saw six Memoranda of Understanding (MoU) - worth Rs 3,104 crore - signed between various companies and the state government in the presence of Chief Minister B S Yeddyurappa, on Thursday in the city.The CM asserted that GIM 2012 aimed to net an investment of Rs 5 lakh crore as against Rs 3.92 lakh crore in the first edition.Subsequent to the meet, said the CM, 524 projects worth Rs 1.33 lakh crore had materialised in the state."94 per cent of the investments have been proposed outside Bangalore," he said and while stating that 28 projects worth Rs 8,622 crore had been cleared on Thursday itself."These projects would provide employment to 23,000 people."'Manage State Resources'. But the state's focus area of steel industries did draw a cynical comment from B Muthuraman, president of the Confederation of Indian Industry (CII).During his address, he stated that India did not have as much natural resources as assumed, but the same can be converted into prosperity "as long as the process is managed well".He said that available resources should not be over exploited, a process, in his opinion, had already begun.Karnataka should convert natural resources into the prosperity of the people, while making a plea to the people of the state to focus on "value addition in all respects".He urged the chief minister to have a vision for the state, which had a growth rate greater than that of the national average by 50 per cent. He later added that the CII had suggested options of land banks, land corporation under Public Private Patnership (PPP) or government undertakings which should operate in a businesslike manner.
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