Karnataka’s new industrial policy eyes investments of Rs 7.5 lakh crore and 20 lakh jobs in 5 years

The authorities has acceptable an ambitious people of attracting Rs 7.5 lakh crore successful investments and creating 20 lakh caller jobs during the argumentation period. “The argumentation focuses connected equitable and sustainable improvement portion promoting industrialisation successful backward regions,” Shivakumar said.

Balanced maturation crossed Karnataka

• To execute determination concern balance, the argumentation classifies districts into 3 zones:
• Zone-1 and Zone-2: Includes industrially backward taluks and districts, which volition person differential incentives to pull investments.
• Zone-3: Covers Bengaluru Urban and Rural districts with a chiseled inducement operation to promote investments successful different regions.

Speaking astir the policy’s focus, Large and Medium Industries Minister M B Patil said, “This classification ensures targeted enactment for industries successful little developed areas, preventing overconcentration successful Bengaluru.”

Key sectors for growth

The argumentation identifies respective precedence sectors, including aerospace and defence, electronics, steel, cement, warehousing and logistics, textiles, aboriginal mobility, greenish hydrogen, concern robots, drones, aesculapian technology, abstraction technology, biotechnology, renewable energy, pharmaceuticals, automobiles, FMCG, and tourism.

Four pillars of the policy

The concern argumentation is built connected 4 cardinal pillars:

1. Financial incentives: investors tin take betwixt superior subsidy and production-linked incentives (PLI).
2. Infrastructure development: encourages PPP collaborations, improvement of “green concern areas”, and affordable lodging for workers successful ultra-mega investments.
3. Ease of doing business: simplifies the single-window system, making concern permits and approvals much efficient.
4. Human superior development: strengthens industry-government-academia collaboration and introduces caller curriculums successful ITIs and polytechnics to make a future-ready workforce.

MSME empowerment & inclusive growth

According to the policy, a large propulsion has been fixed to micro, tiny and mean enterprises, with a 30 per cent onshore allocation successful concern areas and 24.1 per cent reserved for SC/ST entrepreneurs. The authorities volition supply MSMEs with enactment through:

• Affidavit-based approvals for faster clearances.
• Vendor improvement conclaves and selling support.
• Technology upgradation assistance and clump development.
• MSME Manufacturing Excellence Awards to promote innovation.

Innovation & sustainability

The argumentation promotes greenish initiatives, including incentives for sustainable concern practices and the improvement of greenish concern areas. Additionally, it encourages probe and innovation aimed astatine strengthening Karnataka’s probe and improvement ecosystem, boosting startups, and establishing KWIN City (Knowledge, Wellbeing & Innovation City) arsenic a hub for probe and healthcare.

“The Industrial Policy 2025-30 lays a beardown instauration for Karnataka’s concern future. With a absorption connected sustainability, determination balance, MSME growth, and innovation, it aims to make large-scale employment and economical opportunities,” curate Patil said.