Policy . India Briefing is produced by Dezan Shira & Associates. Rajasthan Rajasthan Industrial Development Policy Industrial areas and estates through PPP model: There are plans for establishment of industrial areas and estates through PPP (Private, Public and/or Partnership) model or in association with other government agency. Quality training and certification: The policy highlights on upgradation of skills in order to foster economic growth in the state. US$66.89 billion). Gujarat announces its Industrial Policy, 2020. Aequs is Karnataka's first third-party IT SEZ outside Bengaluru. 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). Urban centers Bengaluru and Mysuru (formerly Mysore) come under Zone-4. Meanwhile, Bengaluru has been ranked the fourth-best city for investment in India. The incentives and concessions are primarily available to Manufacturing … The state ranked third among Indian states in terms of foreign direct investment (FDI) inflows, attracting FDI worth US$40.7 billion between 2000 and 2019. The policy was issued by a notification dated 13 th August 2020. Labor reforms under the policy: An amendment to the Factories Act, 1948 will ensure that women workers who work the night shift in factories, that is between 7pm to 6am, are registered. 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 priority is once again given to enterprises in Zones-1, 2, and 3. The policy also stipulates that MSMEs qualify for interest subsidy on technology upgradation loans of up to 10 percent for a period of five years. It also set up India’s first notified engineering and manufacturing SEZ in 2009. km. These concessions are not applicable to loans obtained from the Karnataka State Financial Corporation and commercial banks that are not listed under the credit linked capital subsidy scheme of the government of India. Karnataka also hosts the highest number of R&D centers, technical and medical institutions, and startup enterprises in India. Special focus on MSME: There is special focus on the micro, small and medium (MSME) sector to strengthen it in the state. To fulfil this objective it has plans for establishment of new industrial areas through KIADB (Karnataka Industrial Areas Development Board). Promote Karnataka as a hub for entrepreneurs: The State Government wants to promote Karnataka as a hub for entrepreneurs. It says that the Department of Industries and Commerce along with the Department of Employment and Training would concentrate on issues related to quality training and certification. The amended Rules were notified on June 30, 2020. The land conversion fee can be reimbursed up to 100 percent for enterprises in Zones-1 and 2 and 75 percent for those in Zone-3. These cookies will be stored in your browser only with your consent. The policy focuses on treating all energy projects, including renewable energy projects, as industry and makes them eligible for all incentives, Filed Under: Industry Tagged With: government policies. Save my name, email, and website in this browser for the next time I comment. Wage revisions: The minimum wage will be periodically revised based on factors like inflation and consumer price index (CPI). 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. For those eligible for special category incentives, they will qualify for investment promotion subsidies worth 35 percent of VFA in Zone-1, 30 percent of VFA in Zone-2, 20 percent in Zone-3, and 10 percent in Zone-4. Moving beyond the capital, Bengaluru: The new industrial policy groups Karnataka’s districts into three zones to develop areas considered to be industrially backward. Students With OCI Cards Are Eligible For State Quota Seats In Karnataka, Kathamala – Stories To Kindle Interest In Indian Culture, Varanga – A Picturesque Stop on the Jain Pilgrim Trail, Donating Eyes In Karnataka Through Jeevasarthakathe – Everything You Must Know. While Karnataka saw its proposals shoot up 154% in the first 10 months of 2020 over the comparable period last year, the national numbers witnessed a 11.9% drop during the same period. In August, Karnataka announced New Industrial Policy (NIP) 2020-25 which has a provision to incentivise mobile manufacturing. Currently, the Karnataka Industrial Areas Development Board quotes a maximum of Rs 2.9 crore per acre at the Haralur-Muddenahalli industrial area in … Karnataka Industrial Policy for 2014-2019 aims to revive the state’s financial growth and improve employment. Readers may write to india@dezshira.com for business support in India. Bengaluru (Karnataka) [India], July 23 (ANI): The Karnataka State Cabinet on Thursday approved the new Industrial Policy for 2020-2025. Your email address will not be published. State Name of the Policy Year URL State Governments 1. 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. This category only includes cookies that ensures basic functionalities and security features of the website. Let us take a look at the salient features of Karnataka Industrial Policy for 2014-2019. The Karnataka cabinet on Thursday approved a new industrial policy for 2020-2025 in which it said it aimed to ensure that 70% overall employment in all fresh investments go to local Kannadigas. Filed Under: Industry Tagged With: government policies. In his pitch to the press, State Minister for Large and Medium Scale Industries and Public Enterprises, Jagadish Shettar, explained that the new industrial policy intended to promote the development of tier-2 and tier-3 cities in Karnataka, pivot the state to rank third in merchandise exports in the next five years, and maintain a yearly industrial growth rate of 10 percent. Annexwe 1 Definitions . It plans to make arrangements for adequate availability of power, water and transportation for industrial areas. Sections 64 and 65 have been amended to extend overtime hours to a total of 125 hours per quarter. Representative Image. Local jobs creation: The policy will require new industrial projects to create as much direct employment as possible and hire locally – a minimum of 70 percent of the workforce should consist of locals and 100 percent in the case of Group D type of employees (housekeeping and sanitation staff, non-technical posts, drivers, etc.). For more information and advice on choosing the right location for your business in India, please email us at india@dezshira.com. Karnataka is well connected to all major markets with two international airports; 307,030 km of road network; and 5,543 km rail network. Subsidies for MSMEs: The policy offers production turnover-based subsidies for micro, small, and medium-sized enterprises (MSMEs) with a view to boost industrial innovation. The policy highlights aerospace, machine tool, steel & cement sectors as focus industries. Development of industry, trade and service sector promotes higher capital formation, improves per capita income level and absorbs surplus work force. This website uses cookies to improve your experience. The state is home to the Pavagada Solar Park, which has an installed capacity of 2,000 MW, the largest in the country, of which 1,400 MW is operational. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. The State Government on Thursday unveiled the new Industrial Policy 2020-25 aimed to ensure holistic development of the state. […], Donating eyes in Karnataka can help correct vision […]. The state’s approach of ushering in an environment of industrialization reflects its objective of improving per capita income, promoting higher capital formation and creating large employment opportunities. Overall, the new industrial policy seeks to attract investment worth INR 5 trillion (approx. The Karnataka State Cabinet has approved the new industrial policy for 2020-2025 which focus on labour, and land reforms providing jobs. Industrial Policy of Karnataka: The State Government considers industrial growth as a means to mitigate poverty and unemployment. Minister for Large and Medium-scale Industries Jagadish Shettar on Tuesday said that the new industrial policy will be finalised soon and the cabinet will also give its approval. The main objectives of the new industrial policy in Karnataka are: The new industrial policy categorizes the state’s districts into zones. The Karnataka State Cabinet on 23 July 2020 approved the New Industrial Policy for 2020-2025 that aims to attract Rs five lakh crore worth investments over the next five years, and create about two million jobs to help mitigate the economic impact of the Covid-19 crisis. 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). Image Credit: ANI. and grow their operations. Sections 64 and 65 of the Factories Act have been amended to extend overtime hours to 125 hours per quarter. REGISTER TODAY. Other incentives include – exemption from stamp duty and concessional registration charges; reimbursement of land conversion fee; tax exemption on electricity tariff for MSMEs; and power subsidy for MSMEs. Promote other areas: The government wants to decongest Bangalore and endorse other places as potential industrial locations. Micro and small enterprises will be offered interest subsidies if they secure loans from public service banks at an annual rate of three percent for five years. Required fields are marked *. Karnataka is also a popular destination for auto, electronics, food processing, heavy machinery, and the textiles industry. The first such region or SIR will encompass the Dharwad, Gadag, Haveri, and Belagavi districts of Karnataka. The policy highlights the government’s plan to make sufficient land readily available for business. Several areas are under considered for Special Investment Regions, like Dharwad, Gadag, Haveri and Belgaum Districts, Bagalkote, Bijapur, Bellary, Hassan, Koppal, Mysore, Mangalore and Raichur. How To Apply For Caste And Income Certificates In Karnataka? Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. Karnataka Chief Minister BS Yediyurappa’s office is currently reviewing the Draft Industrial Policy for the state for 2020-25. 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. Micro, Small, and Medium-Sized Enterprises (MSMEs) will be given production turnover-based subsidies to encourage innovation. MSMEs will also be offered a 100 percent exemption from tax on power tariffs for a period of seven years in Zone-1, six years in Zone-2, and five years in Zone-3. Karnataka’s new industrial policy incentivises high-tech investments, boosts local jobs creation, and seeks to move industrial and technology hubs beyond the state capital, Bengaluru (formerly, Bangalore). Of subsidies and incentives to promote entrepreneurs belonging to the women and Special categories to these... Which has a coastline of 300 km with 12 minor ports and one port. The highest number of R & D centers, technical and medical institutions and. 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