Bengaluru, Oct 31 (PTI) The imposing Bengaluru Palace is all decked up to host the three-day Global Investors' Meet which Prime Minister Narendra Modi will inaugurate on November 2 virtually.

The Karnataka government expects that the GIM titled 'Invest Karnataka' will help bring at least Rs 5 lakh crore investment which will help generate five lakh jobs to people of the state.

Also Read | Red Light on Gaadi off: Delhi Govt Resubmits File 'With Evidence' for LG Vinai Kumar Saxena's Nod.

Three Union ministers -- Finance Minister Nirmala Sitharaman, Industries Minister Piyush Goyal, and Coal and Mines Minister Pralhad Joshi -- along with Chief Minister Basavaraj Bommai and state cabinet ministers will take part in the inauguration, Karnataka Medium and Large Industries Minister Murugesh Nirani told PTI on Monday.

More than 5,000 delegates and investors are going to take part in the investors conclave. Further, on November 2 afternoon, there will be 16 group discussions and seminars where the ministers, IAS officers and investors will take part. The valedictory will be on November 4, the minister said.

Also Read | Workforce Reduction: Overall Job Cuts No More Than 5% To Avoid Role Duplication, Says BYJU's CEO Raveendran.

People attending the event will get to see many stalls of the investors, Nirani said.

"More than Rs 5 lakh crore investment is expected from this GIM, which will generate over five lakh jobs. We will brief media about the the number of companies that will invest in Karnataka on November 4 evening," the minister said.

According to him, the High-Level Clearance Committee headed by him has cleared investment of more than Rs 3.6 lakh crore. He also claimed that the state has a good conversion ratio, which means translation of the Memoranda of Understanding (MoUs) into investment on the ground.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)