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New Industrial Areas to be Set Up in Eight Districts: Karnataka Minister

    16 February , 2022         Fdiindia

New Industrial Areas to be Set Up in Eight Districts: Karnataka Minister

Large and Medium Industries Minister Murugesh Nirani said that the Karnataka Industrial Area Development Board (KIADB) will take industrial growth beyond Bengaluru by developing new industrial areas in eight districts.

“KIADB is planning to develop new industrial areas in 2022-23....KIADB will develop Harohalli 5th phase in Ramanagara, Gauribidanur 3rd phase in Chikkaballapura, Madhugiri industrial area in Tumakuru, Jakkasandra 2nd phase in Kolar, Kuduragundi industrial area in Mandya, Arasikere industrial area in Hassan, Kadechur 2nd phase in Yadgir and Obalapura industrial area in Bengaluru rural,” said the minister while replying to a query in the Legislative Council.

He further added that KIADB has developed 188 industrial areas in Karnataka so far. The basic infrastructure facilities of these areas are in good condition.

“Karnataka attracted ?1,02,866 crore investments and remained top FDI recipient in India with 46 per cent share in April-September 2021 fiscal. We are one of the top FDI recipients among the major states during COVID-19 pandemic,” he said.

“We have implemented Industrial Policy 2020-25 with an aim to attract more foreign investments and push industrial growth in the state. Those who make more than ?500 crore investments will get special incentives,” Nirani further added.

The minister further added that the government has allotted Rs. 525 crore under the Critical Infrastructure Development Scheme to enhance infrastructure amenities in the old industrial areas.

Karnataka has attracted foreign direct investments (FDI) worth Rs. 1.6 lakh crore in the current financial year, which is more than half of the total overseas investments in the country.

The primary areas that attracted FDI in the state include healthcare, electronics, food processing, aerospace and defense, manufacturing, hospitality, etc.


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