Karnataka Government on Friday decided to postpone the Global Investors Meet slated for January 11 and 12 next taking into account continuing economic recession and recent flood ravage in northern districts of the state.
A decision to put off the mega event either to the last week of May or first week of June next year was taken at a meeting chaired by the Chief Minister B S Yeddyurappa in which secretaries of various departments were present, Minister for Large and Medium Industries Murugesh Nirani told reporters.
Majority of the officials favoured postoponing of the event planned by the BJP Government soon after it assumed office in May 2008 but had been rescheduled at least thrice since then.
Nirani said at least 70 companies from China, Japan, Germany and USA had registered for the meet evincing interest to invest in araes like cement, steel, IT, BT, aerospace and energy sectors.
Germany-headquartered BOSCH had come forward to invest Rs 1,000 crore and J K Tyres Rs 1,500 crore in Karnataka, he said but did not give details.
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 sharp criticism from opposition Congress and JDS.