Karnataka’s New Industrial Policy To Focus On Tier-II, Tier-III Cities
Karnataka’s new industrial policy aims to look away from just Bengaluru and bring growth to Tier-II and Tier-III cities of the state, Jagadish Shettar, the state's large and medium industries minister, said on Wednesday.
"Industrial development in Karnataka has become Bengaluru-centric. The new Karnataka industrial policy will focus on taking industrial development to Tier-II and Tier-III cities," Shettar told reporters in the state capital after meeting a delegation of investors from Richen Capital Delegation from China.
Shettar said the previous industrial policy for three years is set to expire by year-end and a new one is in the offing. "The new draft policy is ready. After discussing with officials, we will implement it by December," he said. According to the state minister, the government has mooted the formation of Regional Development Authority with a focus on industrial development in backward talukas.
Commenting on the economic slowdown in India, Shettar said only a few sectors have been affected—such as auto and real estate. "Rest others are doing good," he added.
On the sale of 3,667 acres to the JSW Steel Ltd. in Ballari district, Shettar said a decision will be taken by the Karnataka Cabinet as he alone cannot make a call on it.
As the opposition party until earlier this year, the Bharatiya Janata Party had protested the sale of land to JSW Steel, saying that the government was selling it at a throwaway price and "it will not let it happen".
The party, led by now Chief Minister BS Yediyurappa, had staged demonstrations against the sale putting the preivous Congress-JD(S) government on the backfoot.
The previous government had decided to convert the lease of 3,667 acres to JSW Steel Ltd. at Ballari into a sale, in accordance with the initial agreement. However, amid a row over the decision that drew opposition from various quarters, the then cabinet again discussed the issue and decided to refer it to a cabinet sub-committee.