Keeping in view next year’s Global Investors Meet in the State, the Congress government, headed by Chief Minister Siddaramaiah, has decided to bring out a new industrial policy to attract investment in various sectors of the economy and in tier II cities.
The government will hold discussions with chambers of commerce, industry associations and other stakeholders to finalise the new industrial policy, which will come into effect on April 1, 2014.
The industrial promotional policy (2009-14) comes to an end on March 31, 2014. The BJP Government organised two Global Investors Meet and one Global Agricultural and Food Processing Summit during its full term.
The State Cabinet that met on Friday last approved the new Information Technology and Textile policies to attract investment.
The industry and service sectors contributed 25.9 per cent and 59 per cent, respectively, to the State Gross Domestic Product during 2012-13. The State accounted for 5.07 per cent of the number of registered factories in the country.
During discussion with industrialists and office-bearers of the Federation of Karnataka Chambers of Commerce and Industry, the Chief Minister agreed to hold a half-a-day round-table to hear grievances of the industry.
According to sources, the government has proposed to develop a national investment manufacturing zone (NIMZ) spread over 12,000 acres in Tumkur. The Union government has approved this proposal, and the State government wants to develop two more zones in Kolar and Gulbarga.
“We will bring in a new, comprehensive policy to enable accelerated growth of industries in the State,” Mr. Siddaramaiah, who holds the Large and Medium Industry portfolio, told captains of industry at an interactive session organised by Bangalore Chamber of Industry and Commerce on Friday last.
Mr. Siddaramaiah told industrialists that the government will strive to bring about an industry-friendly atmosphere in the State as investments result in economic development and also generate employment opportunities.
The government has launched e-Udyami portal for approval of projects.
