Karnataka to unveil new industrial, EV policies at global investors meet next month
The government has upgraded single-window clearances using AI to halve proposal processing time. A dedicated water supply for industries and a new pharma park near Bengaluru are planned.
The Karnataka government will announce a new industrial policy and two policies on electric vehicles and clean mobility at the Karnataka Invest Summit in Bengaluru next month, Industries Minister MB Patil said Wednesday.
Setting a "realistic target" of Rs 10 lakh crore investments, Patil said 80% would materialise, unlike the previous summit where Rs 2.60 lakh crore in hydrogen project commitments did not take off.
The new policy offers flexible incentives based on capital investment and turnover. Companies undertaking manufacturing innovation research will get 10% incentives, while district and taluk-level investments will receive an additional 5%. Special incentives target women's employment, he said during a roadshow here.
The government has upgraded single-window clearances using AI to halve proposal processing time. A dedicated water supply for industries and a new pharma park near Bengaluru are planned.
Principal Secretary Selva Kumar highlighted the state's affidavit-based clearance system, allowing businesses to start operations without multiple approvals for three years. Recent reforms enable flexible work timings for women, including night shifts.
The next roadshow will be held in Mumbai.
Industries Commissioner Gunjan Krishna was present at the event.
Edited by Megha Reddy