Karnataka is all set to attract investments in 14 key sectors at the Invest Karnataka 2016 event and in line with the new industrial policy, is working on moving industries beyond Bengaluru.

The government is taking efforts to reach every nook and corner of the state by encouraging investors to move away from Bengaluru and giving impetus to tier-II and -III cities, at a time when the city is saddled with infrastructure and cost issues.

The government has created required infrastructure in all the regions — Mumbai-Karnataka, Coastal Karnataka, Hyderabad-Karnataka and Bengaluru-Mysuru-Tumakuru-Kolar — to attract investments.

Policies in place

To implement this beyond Bengaluru policy, the state has already put in place industrial policy, ESDM & IT policy, start-up policy, aviation policy, biotech policy and textiles policy to attract investors. “This is being done for equitable distribution of investments based on the regions’ strength and employment creation across regions,” said RV Deshpande, Minister for Industry and Tourism, told BusinessLine.

The government has acquired 3,232 acres for the development of an integrated industrial park at Yadgir in the Hyderabad-Karnataka region. About 1,000 acres are being reserved for setting up a textile park and 500 acres for pharma industries.

Major projects cleared

Major projects approved at the Yadgir include a rail coach factory that has been allotted 150 acres and handed over. More than 40 pharma industries proposals have been approved at Kadechur Industrial Area, Yadgir. The proposal of Hindustan Coca Cola Beverages bottling plant has been allotted 150 acres and Mphinite solutions (PET bottle manufacturers) has been allotted 125 acres.

The proposal of Shahi Exports for readymade garments in the industrial area has also been approved. At Kalburgi (formerly known as Gulbarga), the government has given in-principle approval for setting up a National Investment Manufacturing Zone (NIMZ).

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