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GIM - Beyond Bangalore, Business World

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Economy

Read some coverage of GIM in BusinessWorld, (Beyond Bangalore). Must say that beyond Bangalore is a nice topic for the article, here are some intereasting bits:

... projects, if they all take off, will see Rs 4 lakh crore being invested ... Almost 65 per cent of these projects are in the iron and steel sector ... in Bellary.

The stat that Karnataka needs to change is this ...

Karnataka ... single-city economy. Bengaluru ... accounts for over 55-60 per cent of the state’s GDP, according to Aroon Raman, chairman of CII-Karnataka.

An interesting angle on iron ore controversy. Will illegal activity go away, be legalized now!?

There is another agenda of the state that big steelmakers could fulfil. Having been pulled up by the Supreme Court for its failure to check illegal mining activities, Karnataka is hoping that once these big investors set up operations, much of the current illegal mining and smuggling of iron ore will stop, or at least come down.

The standard land acquisition angle. No real take on how GoK will do this.

The biggest incentive Karnataka has to offer is the ease of land acquisition. Orissa ... has proved a headache for most of the big projects. From Posco to the aluminum maker Sterlite, work has been stalled ... Chhattisgarh has its own share of problems ... this is precisely the edge that Karnataka is focusing on.

Water problem ...

 ... water shortage  ... ArcelorMittal will also draw from Almati and Tungabhadra. Sources say the water issue made Tata Metaliks, which is setting up a 3 mtpa plant in the state with Tata Steel, opt for the Haveri district instead ...

Power and road are other problems mentioned in the article. There are some quotes from few Babus on how these will be addressed. But no real quotes on land acquisition or water shortage issues.

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