Karnataka Moots Global Investors’ Summit this Year
From Our Political Correspondent
BANGALORE, May 30: A global investors’ summit is proposed to be held towards the year-end to lure prospective investors in tier 2 and tier-3 cities as part of the strategy to redress regional imbalance and achieve overall development of Karnataka.
The venue and date of the proposed summit was yet to be decided, according to Karnataka’s large and medium industries minister Murugesh R Nirani, who indicated that the state’s vision goup comprising eminent personalities, including heads of several important science and technology institutions, business enterprises and senior officials would finalise the details.
The third meeting of the vision group will be held at Hubli on June 12, he said.
Nirani said the government would focus on attracting investment in steel, cement, food processing, and automobile sectors, which also provided greater scope for generating employment.
The global investors’ meet scheduled to be held January last had been postponed owing to global economic slowdown as there were fears of lack of response from investors.
The minister said the Government had cleared 44 projects involving investment of Rs 105266.2 crore in 2008-09 which would provide jobs to 4,10,842 persons.
Karnataka’s revised industrial policy would be formally released by Chief Minister B S Yeddyurappa shortly. Simplification of single window clearance agency, reduction of stamp duty levied on sale and purchase of industrial sheds and land in phases over the next two to three years were the key features of the new policy, Nirani said.
The industrial adalat of Gulbarga division would be held at Hospet on June 17 while that of Mysore division would be held in Mangalore on June 10. All industrial associations had been informed about events. The adalat of Bangalore division would be held in the City in June last week.
To encourage food processing industry, the Government has been giving 15 to 50% subsidy to entrepreneurs setting up industries in the sector. The capital subsidy of Rs 120 crore, which had been pending since 2002, had been released to 5,000 small units, he said.
The government plans to acquire at 500 to 10,000 acres in each district depending on the availability of barren lands to develop new industrial estates and townships and ease congestion in and around Bangalore.
The Karnataka Industrial Areas Development Board (KIADB) had acquired 1.50 lakh acres so far in three phases. A legal cell to resolve land disputes between KIADB, land losers and industries being set up under the chairmanship of a retired judge of Karnataka High Court, he said.
Pointing out that some industrialists who had been allotted huge chunks of land as far back as 10 years ago had not utilised the same, the minister said the government had set up a land audit committee to assess the extent land required by each applicant. The committee would clear the lands in excess of five acres. The KIADB had issued notices to such industries directing them to return the lands, he added.
The department has decided to earmark 30 per cent of the land in industrial areas to residential townships to provide basic facilities to industrial workers, he said.