Ahead of January Global Investors Meet, Karnataka to upgrade industrial estates.

Karnataka Industries Minister KJ George discussed with senior bureaucrats the programme for the global investors’ meet which is scheduled for January next year.

George, along with the State Rural Development and Panchayat Raj Department Minister Krishna Byre Gowda, also discussed with the officials issues regarding land bank and upgradation of industrial areas across the State.

“Upgradation of industrial areas will facilitate investment, productivity and employment generation,” said George.

The meeting is seen as an exercise to identify and create land bank to lure investments during the investors meet.

About a year ago, the State government had released Rs. 125 crore to strengthen and upgrade old industrial areas.

Also, a Rs. 100-crore special grant was given to the Karnataka Industrial Area Development Board to upgrade industrial areas, especially in the backward regions. The fund will be spent on upgrading infrastructure including roads, drains, water and power supply.

The State government had also released Rs. 25 crore to the Karnataka State Industrial and Infrastructure Development Corporation to take up infrastructure works in all its 23 industrial estates. Sudhakar S Shetty, President, FKCCI, in a memorandum submitted to the State government has urged that with Bengaluru nearing saturation in terms of land parcels that can be developed for industrial use, a plan to set up satellite towns in its vicinity and linking them with a ring road should be explored.

He further said that “The government should envision in replicating the benefits of Bengaluru, such as sound infrastructure, educational opportunities, employment options and residential opportunities in the adjoining towns to ease the burden.”

HBL