With a goal to attract ₹50,000 crore in investments and generate employment for 2 lakh people, the State government has proposed to upgrade infrastructure at the 9,629-acre industrial area at Vasanthanarasapura, which is part of the Chennai–Bengaluru industrial corridor project. It proposes a “rail-based efficient and useful multi-modal transport system between Vasanthanarasapura, Tumakuru, Ramanagaram, and Bengaluru on a separate track”.
A new industrial policy will be framed as the existing one will expire in September. In a bid to attract more investors, the government has announced that it will hold a ‘Global Investors Meet’ in January 2020.
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In another major move, to revive the loss-making Mysore Sugar factory in Mandya, an allocation of ₹100 crore has been made for reconstruction of buildings, distillery units, and other projects.
Other announcements include allocation of ₹80 core to establish coir clusters and ₹50 crore for the development of industrial sheds.