The Hindu : GM to set up research centre

Online edition of India's National Newspaper
Saturday, Jun 21, 2003

Southern States

Southern States - Karnataka-Bangalore

GM to set up research centre

By Our Special Correspondent

Bangalore June 20. The Minister for Large- and Medium-scale Industries, R.V. Deshpande, said today General Motors had shown interest in setting up a research centre in Bangalore, while Dell would make further investments here. Inaugurating a three-day personal finance exhibition and conference, "MoneyWise'', organised by the New Indian Express Group at the Kanteerava Stadium here, Mr. Deshpande said the Government was keen on developing infrastructure. The investment climate had improved following the route of liberalisation. Talking about finance, Mr. Deshpande said that the consumer was king, and financial institutions were competing with one another to get business. The lowering of interest rates had propped up housing and other sectors, he added. The Minister for Health and Information, Kagodu Thimmappa, said it was unfortunate that finance companies mainly catered to the urban sector in a country which was predominantly rural. The Director of EventXpress, Gary Jacobs, said the group had held the exhibition in Kochi and Hyderabad, and both had good response from the public. Most of the leading public sector banks, besides insurance and other financial institutions, are participating in the exhibition.

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