Press Esc to close
Friday 25 July 2014
News updated at 11:49 AM IST
Weather
Max: 28.5°C
Min : 19.8°C
In Bangalore
Sunny day

Sops for investors to set up units outside Bangalore

Bangalore, Jan 17, 2013, DHNS:

The State government will provide special incentives for investors who come forward to set up industries outside Bangalore, especially in the backward regions of the State, Chief Minister Jagadish Shettar said on Thursday.

Speaking at the curtain-raiser function for the centenary celebrations of Commerce and Industries department, he said the government intends to ensure balanced and healthy regional development of the State.

“Bangalore has been the first choice of investors willing to set up shop in Karnataka. The government is ready to extend special incentives to encourage them to go to tier-II and tier-III cities,” he stated.


Industries Minister Murugesh Nirani said the department has been drafting a proposal on providing special incentives, and it will be finalised soon and placed before the government seeking its approval.

The special incentives will be over and above already announced in the 2009-2014 industrial policy, he added.

The government is planning to set up solar parks in eight to nine places in north Karnataka districts of Bijapur, Gulbarga and Raichur to ensure adequate availability of power to industries.

Land will be allotted to the investors at the proposed park where they can set up solar power generating stations. Facilities and incentives for investors will be spelt out in the new solar policy, which will be unveiled in about a fortnight’s time, the Minister said.
Besides, the government will soon come out with a new textile policy.

‘Investor-friendly’

Investors are showing reluctance to set up shops in textile sector due to certain lacunas in the existing policy. Hence, it has been decided to bring out a new, investor-friendly policy, he pointed out.

Stating that the chief minister is planning to peg the total outlay of budget 2013-14 at Rs 1.30 lakh crore, Nirani said the budget will bring sweet news to the industry. Those likely to be announced include five per cent interest subsidy for Micro, Small and Medium Enterprises (MSME) sector, cut in property tax rate for industries and doing with industrial trade license system, he added.

He claimed that Karnataka is in number one position in the country as far as attracting investments is concerned.

“Number of MoUs signed at Global Investors’ Meet organised by the Gujarat government may be more, but in terms of conversion ratio (number of MoUs implemented), Karnataka is in the first place,” he stated. He, however, did not substantiate his claim with statistics.

Online system

The system of filing applications, seeking permission to set up industries in the State, will go online from February 1, Nirani said.

The new system will not only ensure transparency but help the department in speedy clearance of the applications. Besides, payment of various processing fees will also be made online.

The existing manual system of filing applications will be completely done away with after the launch of online system, Principal Secretary to Commerce and Industries department M N Vidyashankar said.

Once an investor files an online application, the department will provide her/him with a unique code, which can be used to track the status of the application.

Problems, if any, will be intimated through the system. One need not run from pillar to post to get necessary permission from the government, he added.

Go to Top

Photo Gallery
India's Sanjita Khumukcham completes a lift during the 48-kg women's weightlifting event...

India's Sanjita Khumukcham completes a lift during the 48-kg women's weightlifting event...

Sachin Tendulkar speaks at the launch of the campaign “Shuddh Paani, Swastha Bharat” to curb...

Sachin Tendulkar speaks at the launch of the campaign “Shuddh Paani, Swastha Bharat” to curb...

Kajol with her mother actress Tanuja at a seminar on breast cancer in Pune...

Kajol with her mother actress Tanuja at a seminar on breast cancer in Pune...

Hironori Kanayama, President & CEO 0f Honda Cars India Ltd. and Yoshiyuki Matsumoto...

Hironori Kanayama, President & CEO 0f Honda Cars India Ltd. and Yoshiyuki Matsumoto...

School students wades through a flooded street after heavy rains in Ahmedabad...

School students wades through a flooded street after heavy rains in Ahmedabad...

Aishwarya Rai Bachchan at a promotional event in Glasgow on Wednesday...

Aishwarya Rai Bachchan at a promotional event in Glasgow on Wednesday...

Monsoon clouds over Taj Mahal in Agra...

Monsoon clouds over Taj Mahal in Agra...

A over view of fireworks that gallored the sky at Celtic Park during the opening ceremony...

A over view of fireworks that gallored the sky at Celtic Park during the opening ceremony...

A  man rows his boat on a river in Buthidaung...

A man rows his boat on a river in Buthidaung...

A worker sorts coffee berries at a factory in Kienjege, Nairobi...

A worker sorts coffee berries at a factory in Kienjege, Nairobi...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bangalore - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523