Massive and Medium Industries Minister M B Patil on Tuesday introduced that Karnataka will set up 12 new funding zones throughout 30,000 acres, alongside over 200 current industrial areas.
Talking on the inaugural GIM Investor Karnataka 25 occasion, he mentioned these zones will probably be outfitted with world-class infrastructure, and ₹3,800 crore will probably be allotted to offer clear water to industrial areas.
The minister added that the federal government’s coverage is targeted on lowering manufacturing prices whereas enhancing effectivity. To attain this, a “cluster-based coverage” has been adopted, which entails establishing clusters for aerospace and defence, electrical car manufacturing, pharma, deep-tech, and drone parks throughout the state.
The Karnataka Industrial Areas Improvement Board (KIADB) has already developed over 85,000 acres of commercial land, which is dwelling to 25,000 industries.
“With fierce competitors from China and world uncertainties, the state is set to redefine its industrial panorama. Via digital transformation, eco-friendly initiatives, and a give attention to competitiveness, Karnataka is about to develop into a worldwide manufacturing and innovation hub,” Patil remarked.
Technological adoption, funding attraction, and the institution of aggressive industries are seen as key drivers for future financial progress, the minister mentioned. The federal government can also be implementing digital transformation throughout the industrial sector, with particular consideration being given to eco-friendly initiatives and lowering emissions.
Alongside, the federal government is specializing in supporting small and medium industries, which make use of 55 lakh folks throughout 8 lakh medium, small and micro items, to drive financial progress and job creation, he added.