Invest Karnataka 2016 to showcase 145 projects for investors

YarnsandFibers News Bureau 2016-01-23 15:00:00 – Bengaluru

The Karnataka state government is holding ‘Invest Karnataka -2016’ for three days from February 3 for attracting investment from domestic and global firms. The government will be making every effort at Invest Karnataka 2016 to encourage investors to move away from Bengaluru and give impetus to tier-II and tier-III cities. Investors will go to small towns because of availability of human resources, land and labour.

Tier-II cities such as Mangaluru, Mysuru, Hubballi and Belagavi have all forms of connectivity — air, rail and road. They are also developing airports in Kalaburagi and Shivamogga.

Three new industrial townships have been planned in Chitradurga-Davangere, Hubballi-Dharwad and Belagavi along the Bengaluru Mumbai Industrial Corridor.

The government has acquired 3,232 acres for the development of an integrated Industrial park at Kadechur in Yadgir. Of the 3,232 acres, 1,000 acres will be used to set up a textile park and 500 acres have been reserved for pharmaceutical industries.

So far the Yadgir industrial park has generated a large amount of interest amongst investors. The government has approved more than 45 project proposals worth about Rs13,500 crore, a release said.

Development work has begun at the industrial area. The construction of the textile park, in the most backward region of the state, is likely to improve the condition of cotton growers and weavers besides generating employment for a large number of people, it added.

The investment at Yadgir is likely to create 12,145 jobs in the state.

Karnataka has also proposed to set up a hi-tech textile-training centre in Bandalli village in Yadgir. The proposed training centre will be set up on five acres with an investment of about Rs10 crore.

Hoping for an image makeover, the State will be showcasing 145 projects for investors during the mega event, and 30,000 acres of acquired land for industrial purposes.

Minister for Medium and Large Scale Industries R.V. Deshpande has held road shows in different countries in the last few months in the run-up to the event.

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