From Our Special Correspondent
Daijiworld Media Network

Bengaluru, Oct 31: Karnataka’s new Industrial policy-2020 draft is ready and will be announced in December post the Cabinet approval, said Large and Medium Industries Minister Jagadish Shettar on Wednesday, October 30.

He was speaking to media persons after meeting with a delegation from China to discuss various investment opportunities in Karnataka.

The minister said that the new draft Industrial policy will be presented to the cabinet and will be announced in December.

The policies from various states were studied during the preparation of draft policy, he added.

Shettar said entrepreneurs from various sectors in China have expressed interest in investing in Karnataka and obtained information about favourable atmosphere in the state for investment.

The delegation inquired about various aspects such as investments, licence, power supply, land among others, he said.

The minister said the industrial policy will take into account the development of backward districts. The government is mulling over setting up Regional Industrial Development Corporation in this regard.

The focus will be shifted from Bengaluru and development of two tier cities will be prioritised, he added.

Responding to a query, he said the economic downturn has affected only a few sectors such as automobile and real estate. This has not hindered investment, he explained.

The Minister said the commencement of Global Investment Meet (GIM) will be announced after a discussion with the chief minister.

Entrepreneurs from eight companies such as copper-chromium-zirconium alloy manufacturers, stationary, interactive entertainment voice community, enterprise information inquiry tool, Environmental engineering among others took part in the meeting.

Principal Secretary, Commerce and Industry, Gaurav Gupta and Gunjan Krishna, Commissioner, Industrial Development and Director, Industries and Commerce participated in the meeting.