In an effort to allot land in quick time to industrialists who come forward to set up industries, the Government would acquire over 50,000 acres across the State, said Large and Medium Industries Minister Murugesh R. Nirani on Saturday.
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Stressing on the importance of land acquisition ahead of the upcoming Global Investors Meet (GIM) in Bengaluru, Mr. Nirani said it was imperative on the part of the Government to acquire land for investors. Bengaluru would host the Global Investors Meet from November 2 to 4 this year.
"We will allot land to industrialists in real quick time and provide world-class facilities, including water, power and roads,” Mr. Nirani said. Emphasizing on taking industries beyond Bengaluru, Mr. Nirani said industries would be promoted in tier 2 and tier 3 cities.
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“We will encourage industries in tier 2 and tier 3 cities under the Central Government’s Aatmanirbhar Bharat’s scheme. Besides our Government will also implement One District One Product policy soon which will help identify and promote a product in each district. The industrialists involved in these products can get up to ₹10 lakh per unit as credit-linked capital subsidy for 35% of project cost,” Mr. Nirani suggested.
The Minister also highlighted the investor-friendly measures taken by the Government to attract investments. “Implementation of Industrial Policy 2025, Land Reforms Amendment, quick approval of industrial proposals and other measures have created a business-friendly atmosphere and helped attract huge investments in the State. And the country’s first semiconductor plant worth $3 billion with employment potential for 1,500 people would be set up here," he said.
The State Government had also cleared 10 industrial projects worth ₹11,513 crore with the potential of creating 46,984 jobs during the 58th State High Level Clearance Committee meeting last week, he added.