State plans to emulate Gujarat to woo industries

The state government is mulling setting up Special Investment Regions (SIR) along the lines of Gujarat.

During a discussion on the draft of 'Industrial Policy - 2020' on Wednesday, Industries Minister Jagadish Shettar directed officials to study Gujarat's SIR Act 2009' and emulate the same in Karnataka. Gujarat is using a land-pooling mechanism to acquire land and manage large investment regions and industrial areas, for which it enacted the SIR Act.

According to the draft policy, Karnataka is looking at attracting an investment of Rs 5 lakh crore over the next five years. "Under the previous policy, for a target of Rs 5 lakh crore, Karnataka attracted Rs 3.75 lakh crore as investment. The target will be same during the duration of the new industrial policy and the government will prioritise employment generation," Shettar said.

Shettar, who held a discussion with officials, sought details on the Bengaluru-Mumbai Economic Corridor announced by the Centre in 2014-15. Directions were issued to compile details on the funds expected from the Centre for the project.

Noting the success of Tamil Nadu and Gujarat in forming industrial townships, Shettar suggested officials to study the model followed in these states.

Among other recommendations made for the new policy include making the industrial policy friendly to women entrepreneurs, and MSMEs in the State.