Karnataka Plans Rs 5,000 Crore Loan To Develop Industrial Areas, Infrastructure

Karnataka Large and Medium Industries Minister MB Patil said on Thursday that the state government intends to avail a loan of Rs 5,000 crore for developing new industrial areas and facilitating infrastructure, including supply of river water to them.

Many of the industrial areas lack infrastructure, especially dedicated water supply system. The government wants to find a solution to this issue and has been in consideration with the finance department.

According to him, the dedicated water supply plan needs about Rs 2,000 crore and the remaining Rs 3,000 crore will be utilised to create infrastructure facilities, developing new industrial areas and land acquisition.

The land for establishing the Startup park in Bengaluru has been identified.

Speaking at "Innoverge", an event organised by the Confederation of Indian Industry, the minister mentioned that officials have also been instructed to identify land for another software park, which will be established in Belagavi. This software park in Belagavi is planned to focus on the Med-tech sector, he added.

Patil emphasised that to reap the benefits of growth of industries in emerging sectors, there is also a need to create a skilled workforce.