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Centre clears new industrial area in Karnataka: Minister
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SME Times News Bureau | 02 Jan, 2021
The Central government has cleared the new industrial area at Tumakuru
in Karnataka under the Chennai-Bengaluru industrial corridor project,
state Industry Minister Jagadish Shettar said on Thursday.
"The
Cabinet Committee on Economic Affairs (CCEA) on Wednesday cleared the Rs
1,702- crore Tumakuru industrial area, which has the potential to
create 88,500 jobs," he said in a statement here.
Thanking Prime
Minister Narendra Modi for clearing the project early, Shettar said the
state's new industrial policy (2020-2025) would attract huge investments
in diverse sectors and create thousands of jobs over the next 5 years.
"Under
the Chennai-Bengaluru industrial corridor, the 815-acre Tumakuru
industrial node will not only boost economic and employment
opportunities, but also make Karnataka a part of the global value
chain," he said.
The new industrial area will also attract
foreign direct investment and create 17,700 jobs in service sector as
part of the Chennai-Bengaluru industrial corridor that will promote the
Central government's flagship 'Aatmanirbhar Bharat', he added.
"Our
forward-looking industrial policy offers incentives and ease of doing
business with access to land and skilled labour," Shettar said, adding
that as a $250-billion economy, Karnataka has been an attractive
investment destination to global investors in diverse sectors such as
IT, biotechnology, aerospace and defence, electronics, automobiles,
machine tools and heavy machinery.
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