Centre clears new industrial area in Karnataka: Minister

Bengaluru, Dec 31 : The Central government has cleared the new industrial area at Tumakuru in Karnataka under the Chennai-Bengaluru industrial corridor project, state Industry Minister Jagadish Shettar said on Thursday.

“The Cabinet Committee on Economic Affairs (CCEA) on Wednesday cleared the Rs 1,702- crore Tumakuru industrial area, which has the potential to create 88,500 jobs,” he said in a statement here.

Thanking Prime Minister Narendra Modi for clearing the project early, Shettar said the state’s new industrial policy (2020-2025) would attract huge investments in diverse sectors and create thousands of jobs over the next 5 years.

“Under the Chennai-Bengaluru industrial corridor, the 815-acre Tumakuru industrial node will not only boost economic and employment opportunities, but also make Karnataka a part of the global value chain,” he said.

READ:  Farmer organizations to observe Women Farmer’s day on January 18

The new industrial area will also attract foreign direct investment and create 17,700 jobs in service sector as part of the Chennai-Bengaluru industrial corridor that will promote the Central government’s flagship ‘Aatmanirbhar Bharat’, he added.

“Our forward-looking industrial policy offers incentives and ease of doing business with access to land and skilled labour,” Shettar said, adding that as a $250-billion economy, Karnataka has been an attractive investment destination to global investors in diverse sectors such as IT, biotechnology, aerospace and defence, electronics, automobiles, machine tools and heavy machinery.

Disclaimer: This story is auto-generated from IANS service.

Subscribe us on The Siasat Daily - Google News
Back to top button