KIADB to develop new industrial areas in eight districts: Nirani

• Global Investors Meet to be held from Nov 2 to 4, 2022

• Karnataka attracted 46% of FDI in India in April-Sept 2021 fiscal

• KIADB to develop new industrial areas in eight districts

• KIADB developed 188 industrial estates across the state

• Incentives for those who make more than Rs 500 crore investments

Bengaluru, February 15: Global Investors Meet ‘Invest Karnataka – 2022’ will be held from November 2 to 4, 2022 at Palace Ground in Bengaluru, announced Large and Medium Industries Minister Murugesh Nirani.

Responding to a query during the ongoing session on Tuesday Mr. Nirani says,
“Karnataka attracted Rs 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 Rs 500 crore investments will get special incentives.”

In an effort to push industrial growth beyond Bengaluru, the Karnataka Industrial Area Development Board (KIADB) will develop new industrial areas in eight districts, he announced.

Replying to MLC HM Ramesh Gowda’s query in the Upper House, Minister Nirani said 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.

The minister further added that the KIADB has developed 188 industrial estates across the state so far and basic infrastructure facilities are in good condition. He said the government has released Rs 525 crore under Critical Infrastructure Development Scheme to upgrade infrastructure facilities in old industrial areas.

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