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State govt. will release new industrial policy in December, says Shettar

The Karnataka government is set to release industrial policy 2020 in December after obtaining the State Cabinet’s approval.

The State’s 2014-19 industrial policy, which was released during the time of the Siddaramaiah-led government, will expire in December 2019.

Minister for Large- and Medium-Scale Industries Jagadish Shettar on Wednesday met a delegation from China to discuss investment opportunities in Karnataka and told presspersons that the draft of the new industrial policy will be presented to the State Cabinet and would be made public in December. The policies from various States were studied during the preparation of the draft, he said.

Mr. Shettar said entrepreneurs from various sectors in China have expressed interest in investing in Karnataka. The delegation inquired about investments, licence, power supply, land among others, he added.

The policy will take into account the development of backward districts. The government has proposed to set up a Regional Industrial Development Corporation and the focus will be shifted from Bengaluru to the development of two-tier cities, he said.

Referring to the economic downturn across the globe, Mr. Shettar said only a few sectors such as automobile and real estate have been affected due to the slowdown. This has not hindered investment, he claimed.

The Minister said the commencement of Global Investment Meet will be announced after discussion with the Chief Minister. Entrepreneurs from eight companies in different sectors participated in the meeting.

Source: thehindu.com

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