20 lakhs people are expected to get jobs

Karnataka:The new industrial policy is expected to raise about Rs 5 lakh crore and we have implemented the new industrial policy. It is expected to create employment opportunities for around 20 lakh people, said by Jagdish Shettar, Minister of Industry and Commerce Karnataka.

Speaking at a press conference after the Cabinet meeting , he said industrial policy would facilitate the third place in the country in the industrial sector.

Industrial growth is expected to be 10 per cent every year. The minister said that the new technology is being implemented in this manner and it is decided to give discounts on investment in backward areas.

The Automobile Defense Electric Vehicle Medical Devices Renewal Energy sector is being given high priority. It is decided to develop and promote the MS MEs. Intended to make an annual plan for investment. Minister Jagdish Shettar said the land would be allowed for production.

The new industrial policy will help expand industries to Tier 2 and Tier 3 cities. We have identified three zones for industrial development to offer concessions. A high-level committee, headed by the chief ministers, is formed, which divides the districts. He added that Bangalore Zone 3 included rural areas.

Section 109 of the Karnataka Land Reform Act, 1961 has been amended to facilitate the acquisition of land. The Minister explained that private industrial parks, such as integrated industrial park, sector specific park, logistics park and flat factories would be promoted by the private sector.