Rediff.com« Back to articlePrint this article

US biz delegations to visit Karnataka

September 16, 2006 16:37 IST

Starting from next week several US business delegations would visit Bangalore to interact with Karnataka government to explore investment opportunities and at least Rs 2,000 crore (Rs 20 billion) investment would be flowing soon, State Minister for Major Industries Katta Subramanyam Naidu said on Saturday.

The visit by delegations were the result of a series of presentations made by a high level delegation from Karnataka led by Deputy Chief Minister B S Yediyurappa and Naidu during its trip to parts of the United States from August 31 to October 10.

TSI Ventures,Tishman Speyer and ICICI Ventures, New York have shown interest in setting up a convention centre and township development and they have agreed to visit Bangalore next week to discuss the modalities of investment, Naidu said.

Investors in the US, including those doing business from Karnataka, have been impressed by the presentation showcasing the opportunities available in Karnataka for investment in Baltimore, Rockefeller Centre in New York, Consulate General of India in New York, San Franscisco and other places, he said.

IT giant Intel alone would be investing about Rs 5,000 crore (Rs 50 billion) on software parks in Bangalore and Mysore in the next two years and the company proposes to invest $1 billion in India.

Naidu said the state has plans to appoint ambassadors of industry by choosing leading NRIs to lure investors and he would discuss the issue with Chief Minister H D Kumaraswamy and Yediyurappa.

© Copyright 2024 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.