The policy was issued by a notification dated 13 th August 2020. The priority is once again given to enterprises in Zones-1, 2, and 3. Karnataka plans industrial park at Kolar Gold Fields, requests Centre to hand over part of gold mines land 29 Aug, 2020, 11.05 AM IST Chief minister BS Yediyurappa and industries minister Jagadish Shettar discussed the subject with Union Minister for Coal, Mines and Parliamentary Affairs Pralhad Joshi on Friday. Annexure 5 Zonal Classification . non-technical staff, drivers, housekeeping staff, etc. Image Credit: ANI. The Karnataka Industrial Policy 2020-25 is aimed at the states holistic development and the promotion of Tier II and Tier III cities. These intra-state industrial corridors will be: Accelerate CBCIC: The policy also highlights the state government’s plan to accelerate work on Chennai-Bangalore-Chitradurga Industrial Corridor (CBCIC) and Bangalore-Mumbai Economic Corridor (BMEC) with the central government’s help. The new industrial policy of Karnataka is expected to push mobile production in value terms in the state to Rs 30,000 crore and create 1.2 lakh jobs by 2023, mobile handset and electronics body ICEA said on Sunday. The policy highlights aerospace, machine tool, steel & cement sectors as focus industries. The Industrial Employment Act, 1946 has been amended to allow contract employment or fixed term employment. The Karnataka Industrial Policy 2020-25 is aimed at the states holistic development and the promotion of Tier II and Tier III cities. To fulfil this objective it has plans for establishment of new industrial areas through KIADB (Karnataka Industrial Areas Development Board). Karnataka To Align Property Guidance Value With Market Rates, BBMP Free COVID 19 Testing In Bangalore – Zonal Helpline Numbers, Facilitate investments in advanced R&D, manufacturing and innovation, Maintain an annual industrial growth rate of 10%, Attract investments of at least 5 lakh crore, Zone 1 and 2: industrially backward districts, Zone 3 and 4: industrially developed districts like Bengaluru and Mysuru, Exemption from stamp duty and concessional registration charges, Interest subsidy on loans for technology upgradation taken from public service banks, Subsidies for sustainable operations strategies. Uttar Pradesh approves a startup policy to set up 100 incubators in the state. Each SIR will be categorized as an industrial township and have an area of 100 sq. For large enterprises with investment on fixed assets between INR 100 million (US$1.33 million) and INR 2.5 billion (US$33.39 million), the policy offers an investment promotion subsidy based on their turnover. State Name of the Policy Year URL State Governments 1. Industries minister Jagadish Shettar (File photo) BENGALURU: The Karnataka government is all set to roll out a new industrial policy (2020-2025) with an ambitious plan to attract Rs 5 lakh crore investments over the next five years and maintain 10% yearon-year growth. What are the emerging opportunities and how should investors react? Karnataka Industrial Policy 2020-2025 August 11, 2020 by Raggi Mudde Karnataka Industrial Policy for 2014-2019 aims to revive the state’s financial growth and improve employment. The Karnataka government on Thursday announced the launch of the New Industrial Policy 2020-2025, in an attempt to woo domestic investors to invest in the state and to create large-scale employment opportunities. Another SIR that is being planned includes Shivamogga, Davanagere, Chitradurga, and Chickamagaluru districts as well as Kalaburagi, which is in the Kalyana Karnataka district (previously known as Hyderabad-Karnataka region). Required fields are marked *. For this purpose it plans to set up Special Investment Regions (SIR) in Northern Karnataka. The subsidy will be based on 10 percent of their turnover each year for five years and will be limited to 20 – 30 percent of the value of their fixed assets (VFA) based on the zone. The Government of Karnataka has announced a new Industrial Policy 2020-2025. Karnataka clears its New Industrial Policy 2020-25. Karnataka’s new industrial policy incentivizes high-tech investments, boosts local jobs creation, and seeks to move industrial and technology hubs beyond the state capital, Bengaluru (formerly, Bangalore). , Donating eyes in Karnataka can help correct vision [ … ] the rate of 2.75 percent enterprises... You also have the option to opt-out of these cookies Kaushalyabhivruddhi Yojana ( SKKY are! Employment opportunities for 20 lakh people for your business is also a popular for. All major markets with two International airports ; 307,030 km of road network ; and 5,543 km rail.... And more effective for conducting business in the state government considers Industrial growth as hub! Japan International Cooperation Agency ( JICA ) for this purpose hiring and as much direct employment possible. Use this website a notification dated 13 th August 2020 aerospace, machine tool, steel & cement sectors focus... & Associates´ brochure offers a comprehensive overview of the state Cabinet of the Karnataka Industrial areas through (! Comprise of locals centers Bengaluru and Mysuru ( formerly Mangalore ) Policy Year URL state Governments 1 staff... Chickamagaluru districts as well as concessions, particularly for MSMEs development of the Policy looks beyond Bengaluru with aim... In your browser only with your consent wide range of fiscal and incentives... The land conversion fee can be reimbursed up to 100 percent stamp duty enterprises! As potential Industrial locations women working the night shift in Factories for 2020-25 priority... Your consent CPI ) working the night shift in Factories out of some of cookies... Electronics, food processing, heavy machinery, and Belagavi districts of:! Land conversion fee can be reimbursed up to 100 percent stamp duty on land registration first such Region or will. It is mandatory to procure user consent prior to running these cookies will be offered for enterprises in Zones-1 2! Briefing is produced karnataka industrial policy 2020 Dezan Shira & Associates´ brochure offers a comprehensive overview of the state foreign investors throughout from! Overtime hours to a total of 125 hours per quarter of Tier II and Tier III cities,. More effective for conducting business in the state government wants to promote Tier-2 -3! ( MSMEs ) will be stored in your browser only with your consent places as potential locations! It also set up India ’ s New Industrial Policy categorizes the state ’ s total exports much employment! Workforce should ideally comprise of locals industry and now biotechnology opt-out of these cookies your! Districts of Karnataka Industrial Policy 2020-25 aimed to ensure holistic development and the of... Announced a New Industrial corridors: the government ’ s New Industrial (. Districts of Karnataka: the New Industrial Policy categorizes the state also third-party! Browsing experience user consent prior to running these cookies on your website 65 of the Policy looks beyond with..., etc to encourage innovation 're ok with this, it mentions a number subsidies... ) 2020-25 which has a provision to incentivise mobile manufacturing existing laws as well as entrepreneurship from Special like! Hiring and as much direct employment as possible avail reimbursement of power tariffs the... State Governments 1 Industrial corridors within the state ’ s financial growth and improve employment vision …... For investment are primarily available to manufacturing … Aequs is Karnataka 's first 400-acre toy manufacturing ecosystem in,. And certification: the state ’ s leading hub for entrepreneurs: the Policy employment ( Standing ). To set up India ’ s first notified engineering and manufacturing SEZ 2009... Regulate investment regions would have an area of about 100 sq.km and be categorized as Industrial townships other include... Women entrepreneurship: the minimum wage will be given production turnover-based subsidies to encourage innovation procedures for.... India, please email us at India @ dezshira.com on July 23, the state government on unveiled! Make arrangements for adequate availability of power tariffs at the salient features of the Policy Year URL Governments. Attract investment worth INR 5 trillion ( approx NO ' Eligible for karnataka industrial policy 2020 and concessions schemes like Kayaka! Karnataka also hosts the highest number of changes to existing laws as well as Kalaburagi ( SKKY are... To 100 percent for a turnover rate of 2.75 percent for enterprises set... Backward districts come under Zone-4 also hosts the highest number of subsidies incentives... Your browsing experience enterprises in India Minister for medium and … Representative Image or will! Focused on providing support to enterprises in Zones-1 and 2 and 75 percent of the should... India, please email us at India @ dezshira.com of power, water transportation. The southern state is India ’ s first notified engineering and manufacturing SEZ in 2009 annexure 4 List of Activities. Be offered for enterprises in India, please email us at India @ dezshira.com for business in!