Karnataka signed MoUs worth ₹1.3 lakh crore for renewable energy projects, says Chief Minister Basavaraj Bommai

Also, Karnataka was the first State in India to offer Production Linked Incentives (PLIs) to the semiconductor and FMCG sectors, says CM

September 16, 2022 11:13 am | Updated 11:13 am IST - Bengaluru

The 5th edition of India Manufacturing Show was inaugurated, at Bangalore International Exhibition Centre (BIEC), in Bengaluru, on September 15, 2022.

The 5th edition of India Manufacturing Show was inaugurated, at Bangalore International Exhibition Centre (BIEC), in Bengaluru, on September 15, 2022. | Photo Credit: PTI

Karnataka was the first State in India to offer Production Linked Incentives (PLIs) to the semiconductor and FMCG sectors, Chief Minister Basavaraj Bommai told participants at India Manufacturing Show 2022, organised by Laghu Udyog Bharati-Karnataka IMS Foundation, at Bengaluru International Exhibition Centre on September 15.

The CM said the State Government understood the contributions of industries towards development, and therefore the government has made the required budgetary allocations, given special preference to industry-friendly policies and ensured ‘Ease of Doing Business’.

Investors are setting up industrial towns on the Chennai-Mumbai corridor, setting up various industrial units in Tumakuru, Chitradurga, Haveri, Dharwad and Belagavi, and industrial parks in Kalaburagi, Yadgir and Mysuru, he said.

Karnataka signed MoUs for renewable energy projects worth 1.3 lakh crore

The Chief Minister said his government wants to set up industries all across Karnataka, and renewable energy projects all along its sea shore.

“We are doing extensive work in the field of renewable energy. We will soon start producing hydrogen fuel. We have signed MoUs amounting to ₹1.3 lakh crore in renewable energy,” Mr. Bommai said.

The government envisages production of bio-fuel, solar and hydrogen fuel, and production of ammonia from the sea (water).

“Karnataka takes the initiative, which others emulate,” the CM said.

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