3rd June Congratulations Mr.Yediyurappa
By Harish Bijoor
As the Global Investors Meet (GIM) kicks off in Karnataka today, the BS Yediyurappa government in the State, which has just about entered its third year at the helm of affairs, has fired its first serious salvo of development for the state. The GIM in many ways is the first big organized bid by the State to attract investors to a State that has everything to offer to the serious investor. Well, almost everything, except Power. But then the flip side of that statement is that Power sector investment is also an opportunity in itself for the serious investor.
The Yediyurappa government that came to Power 2 years ago has had serious issues at its doorsteps to date. Like a true-blue Sandalwood film unrolling itself, it has had a lot of drama. The euphoria of victory, the throes of division of power through the various ministries, two successive budgets that had Ministers clamoring for more in terms of expenditure limits, depending how much political clout they brought to the party. Ministries such as the Tourism Ministry, oft ignored and pushed into a corner of the budget, benefited for sure out of this. By reasons of default, rather than by reasons of conscious planning.
And then there was deceit and dissension to boot. A performing minister such as Shobha Karandalije had to leave the Ministry, thanks to egos at play. Nature had its play. Severe floods at one end that disrupted thousands of lives, and a severe drought at the other that had the government pushed onto the brink on its promise of the Rs. 2 per kg rice scheme. And amidst it all, the only missing element has been ACTION. It has had plenty of lights, lots of camera. But not too much action to date.
There was off-screen action though. There were bad-words in plenty, mouthed against a Chief Minister in front of television channels waiting to unfold it all. There were patch-ups cobbled together in Delhi. There were euphoric patch-up returns played out at the BIAL.
Amidst all the ‘nataka’ we have witnessed thus far, Karnataka and the BSY government in the State has fired the first serious salvo of good intent, backed by good planning through the GIM kicking off today. Hopefully thousands of serious investors will throng the show, and by the end of the 4th of June, 2010, we will know for sure how the event converted into serious bucks of investments. The MOU’s and their value (whether it be 4 lakh Crore INR or more or less), and more importantly the very many verticals that will receive investor interest will define the path of development the State will traverse over the next decade.
Every vertical of value and significance has been targeted, be it aerospace, biotech, pharma, Services, auto, infrastructure, power, food processing, health, education and more.
I do believe this festival of investment organized by the BSY government in the State is the first serious investment oriented foray launched in a State that deserves this and more. To that extent, the BSY government in the State earns its first positive spur of serious intent towards the development of the State.
Karnataka will move ahead basis the MOU’s signed. If we sign a 4 lakh crore INR set of MOU’s, conversion of this into actual projects, and on time as committed, is going to be a serious issue to tackle in the future. It is important for the government to set up a single-point nodal body that does serious follow-up on each investment oriented MOU. Investment-intent as exhibited in MOU’s need to convert to serious action plans cleared as projects by the State government. These need to be backed by loans as lined up by the plethora of banks that are keen participants in this 'mela'. And that needs to convert into actual on-ground action with the several projects being set up all over the state.
This nodal body needs to be empowered with action-parameters that help rather than hinder. The GIM is a terrific piece of proactive Karnataka-oriented development action. Let’ remember, this is just the beginning. From intent to plan to action to fulfillment is a long phase of dedicated work a lot of our bureaucrats need to get involved in. The game in many ways has just begun.
If good work results out of it all, and if investment intent translates into ground-level action, and if completed projects result in jobs and resultant prosperity, it can all only reflect in positive votes for the BJP government by the time we get to elections. Development is always a positive vote. And a well deserved one.
This is one big opportunity for Mr. BSY to emerge as a Statesman-planner of the State of Karnataka. The planning effort is excellent. It is important to witness the same degree of efficiency and follow-up action in terms of fast-tracking intent and implementing it all. And with pace.
Congratulations Mr.Yediyurappa! May the force be with you!
The author is a business-strategy specialist & CEO, Harish Bijoor Consults Inc.
Email: harishbijoor@hotmail.com
