Karnataka comes out with NRI policy, to start investment promotion cell

The state government on Friday unveiled the “NRI Policy of Karnataka” to tap the potential of non-resident Kannadigas (NRKs) for the development of the state and address their needs and concerns.

An exclusive NRI/NRK investment promotion cell will be established at the Karnataka Udyog Mitra for speedy clearance of investment proposals. Under the new policy, the government will offer special package of incentives and concessions to NRKs who come up with investment proposals worth Rs 250 crore each, Industries Minister R V Deshpande told journalists here.

Besides, the policy envisages issuing NRK cards to provide them a unique identity. The card will be linked to leading banks and corporate houses which will provide special value privilege to NRKs, including discounts at hotels, jewellery showrooms and hospitals. The card will also help them get speedy services from various government departments.

The policy released by Chief Minister Siddaramaiah will be valid for five years. The NRI Forum of Karnataka will implement the policy by coordinating with various government departments. The government has already constituted a high-level departmental monitoring committee to implement the policy.

The policy has proposed to set up a comprehensive database of NRIs/NRKs diaspora. An interactive cloud-based website will be developed with information of individuals and associations across the globe. An e-directory of registered members will be available on the website.

This apart, the policy states that the government will offer business incubation centres to encourage entrepreneurship among NRIs/NRKs. The incubation centres will be provided at special monthly rentals for one year in association with the IT&BT and Science & Technology department.

Policy aims at

Building brand Bengaluru
Assisting NRKs willing to relocate to Karnataka
Providing support services to workers who intend to go abroad for employment
Ensuring sister city arrangements
Promoting Kannada and festivities of Karnataka among NRIs/NRKs