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The proposals are mainly in the automobile, electronics and heavy engineering sectors. The official said the state already housed 10 top global auto makers and was now focusing on second tier automobile companies. The proposals which are in the pipeline include Kia Automotive group and a Japanese company the name of which the official refused to disclose.

The official has confirmed that Kia Motors was talking to the state government for setting up a manufacturing plant. Hyundai Motor Company, which already has a manufacturing unit in the state, holds about 35 per cent stake in Kia Motors.

There has been speculation in the media industry for a while that Business Standard's banker owner Uday Kotak might be willing to sell the paper given the impact of the economic downturn on his banking and financial-services empire and the greater investment and energy the paper demands in a market that has seen more competition with the launch of HT Media's Mint.