Karnataka starts talks to acquire 3.2k acres of BGML to set up industrial park in Kolar.

The Karnataka government recently initiated talks with the centre to acquire 3200 acres of land from Bharat Gold Mines Ltd. (BGML), a public sector enterprise located in Kolar, about 90 kms from Bengaluru, to set up an industrial park.

The state government formally made its proposal to Pralhad Joshi, the Union Minister for Coal, Parliamentary Affairs and Mines in Bengaluru.

The proposal to start another industrial park comes at a time when Karnataka is trying to attract investments into the state by keeping land parcels ready for industries to set up shop at the earliest.

The B.S.Yediyurappa-led state government has also amended labour, land and industrial laws to reduce the delays in approvals and get investors into the state and help generate more employment.

“We have decided to amend the Karnataka Industrial Facilitation Act (2002) and allow industries to commence operations as soon as they get the necessary approval without having to wait for multiple clearances," Jagadish Shettar, Karnataka’s large and medium scale industries minister said in a statement recently.

Karnataka has fared better than its counterparts in job creation and new investments are expected to help the state make up for revenue shortfalls from the center and ease the distress on its economy.

Shettar added that the state had attracted investments of over ₹31,676 crore rupees in the last five months that would help generate 65,459 direct employment opportunities.

The availability of the land will be known in six months after a survey is undertaken by the Mines and Geology department to assess the presence of any natural resources, the industries department said in a statement recently.

Shettar said that new industrial hubs will help attract investments into Karnataka that is nearly a $250 billion economy and one of the biggest contributors to the centre’s coffers

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