Cooperation Minister H S Mahadev Prasad, on Saturday, said, a draft of a new industrial policy for the years 2014-19 is being readied to record further progress in the realm.
Addressing a gathering of industrialists and entrepreneurs, during the foundation stone laying ceremony for Mysore Export Centre, at Hebbal Industrial Area (HIA) in the city, Prasad said, the State has witnessed rapid progress, by 12.4 per cent, in the field of export during 2013-14.
During the previous fiscal, the State recorded Rs 9.7 lakh crore worth exports, with IT exports alone standing at Rs 1.8 lakh crore, claiming 40 per cent share of the national market.
Moreover, the State is also ranked first in the nation, in IT exports.
The State is also ahead in the field of bio-technology, with a majority, 60 per cent, of the companies concentrated here.
Prasad, who is also the in-charge minister of Chamarajanagar district where an industrial area is coming up on 1,400 acres of land, asserted that measures are being initiated to create basic facilities like water and electricity connections, to enable the investors.
The process to acquire lands is on, with a compensation of Rs 20 lakh fixed per acre.
Chamarajanagar MP R Dhruvanarayan appealed to the State government to take a cue from neighbouring Tamil Nadu in industrial development.
He said, Karnataka is ranked seventh in industrial development in the nation, while Maharashtra is ranked first and Tamil Nadu second.
In Tamil Nadu, every district is known for its distinctiveness, with Coimbatore popular for automobile products, Erode for textiles and Sivakasi for fire crackers, to name a few.
However, in Karnataka, barring Bangalore that is overcrowded by industries and Mysore that is witnessing tremendous growth, no district is industry-friendly.
Mandya district is crying for attention, while Tumkur and Chitradurga are yet to make a start.