The Karnataka government has signed memorandums of understanding and expressions of interest with 730 investors, with investment pledges of Rs 7.6 lakh crore during the two-day Global Investors Meet (GIM) that concluded in Bangalore on Friday.
This has the potential to generate employment for 15 lakh people, Chief Minister DV Sadananda Gowda and Chief Secretary SV Ranganath said at the valedictory function.
In addition, the state has also signed registration of interest with investors for infrastructure projects at an estimated cost of Rs 1.68 lakh crore.
Various banks signed agreements to provide term loans and working capital requirements of these investors to the tune of Rs three lakh crore, officials said.
The government was overwhelmed by the 'huge' response to the GIM, Mr Gowda said. "We have surpassed our own expectations."
Energy sector accounted for 39.6 per cent of the investment pledge, while iron and steel accounted for 15.3 per cent. All districts attracted investment intent, Mr Ranganath said.
20.1 per cent of the intended investment are multi-location.
He said no commitment had been given for iron ore allocation for iron and steel projects.