In an effort to push industrial growth beyond Bengaluru, the Karnataka Industrial Area Development Board (KIADB) will develop new industrial areas in eight districts, announced Large and Medium Industries Minister Murugesh Nirani. The minister made this announcement in the Upper House while replying to MLC HM Ramesh Gowda’s query in the ongoing session. Nirani said, the 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,” Nirani said.

Global Investors Meet

Responding to another query, he said the Global Investors Meet ‘Invest Karnataka – 2022’ will be held from November 2 to 4, 2022 at Palace Ground in Bengaluru. “Karnataka attracted ₹1,02,866 crore investments and remained top FDI recipient in India with 46% share in April-September 2021 fiscal. We are one of the top FDI recipients among the major states during COVID-19 pandemic. 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,” stated the minister. The minister further added that the KIADB has developed 188 industrial estates across the state so far and basic infrastructure facilities. He said, the government has released ₹525 crore under Critical Infrastructure Development Scheme to upgrade infrastructure facilities in old industrial areas.