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Sun 25 Aug 2013 11:48 AM

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Arab entrepreneurs look into Bangalore investment

Investors from across the Middle East plan to build investment region with facilities for SMEs

Arab entrepreneurs look into Bangalore investment
The IACC is due to approach the government of the Karnataka state to gain approval for the AIR.

A group of investors and entrepreneurs from 23 Arab states
have looked into the possibility of launching an investment region near
Bangalore, India, with facilities for micro, small and medium enterprises.

A 400-acre Arab Investment Region (AIR) has been proposed for
land close to Bangalore international airport, according to Indo-Arab Chamber
of Commerce (IACC) chairman S. Krishna Kumar, who says the group of Arab
entrepreneurs are “keen to set up micro SMEs for exports”.

The IACC is due to approach the government of the Karnataka
state to gain approval for the AIR, which would be set up as a township that
would allow micro SMEs to be set up by the entrepreneurs, as well as local
investors, in order to export primarily to Arab states.

Kumar added: “If the state government is unable to provide
land for the region, we will purchase it from private parties at market rate
and request the government to provide connectivity, power, water and other
facilities to ensure faster turnaround of products for exports.”

Delegate from the Middle East participating in the
Transcending Arabian Boarders conference, organised by the IACC, expressed
willingness to invest in the region.

Kumar said that the micro SMEs would “cater to their
respective states in diverse sectors spanning from information and
communication technology, biotechnology, agriculture, civil engineering,
pharma, power, manufacturing, and food-processing.”

Syed Haq 6 years ago

AB, please refrain from calling Bangalore, as the city has been renamed as Bengaluru since 2006. please respect the wishes and sentiments of Bengalurians.
Its is well known as the hub of India's information technology sector. The city is amongst the top 10 preferred entrepreneurial locations in the world.
It was called by different names notable among them being The Airconditioned City , The Pensioners Paradise etc.

Calvin 6 years ago

@syed, it referred to as Bangalore by the Indian media and most Indians and is preferred more than "Bengaluru ".

Syed Haq 6 years ago

@calvin, going by the same yard stick, do you still refer to mumbai as Bombay, Kolkatta as Calcutta and Chennai as Madras.
we are sure you will start a riot in these cities and the masses will be baying for your blood if you mention these cities by their past colonial names.
Remember thackeray and his goons ransacked a theatre which was playing a movie in which the hero called mumbai as Bombay.
Why the double standards when it comes to Bengaluru, is it because Bengalurians are generally peace loving , anti castist and allow any one to come and thrive and bloom here.
Try doing the same in madras or kochin or calcutta and you will see what we mean.

Dave 6 years ago

I think some people have too much time on their hands; this goes to all who throw a hissy fit (or ransack theatres) when Mumbai is called Bombay or Bengaluru is called Bangalore.
Those accustomed to the names Bangalore and Bombay will continue to say when talking informally.

Calvin 6 years ago

@Syed, Kindly note the following institutions:

BOMBAY Stock Exchange
BOMBAY High court
BOMBAY Dyeing etc.

& I live in Bombay (Mumbai) . Also duly note, people who live the respective cities prefer the old name to the new.