The Karnataka government has set the ball rolling for the development of National Investment and Manufacturing Zone (NIMZ) at Tumkur near Bangalore. The Central government has already approved the setting up of NIMZ at Tumkur, for which the state government has already 9,000 acres. Another 3,500 acres are under acquisition, a top state government official said.
“We have recently approved 47 companies to set up their manufacturing units at the upcoming NIMZ, about 8 kms from Tumkur towards Sira on the national highway No 4. There will be many industrial clusters at the NIMZ, such as machine tool cluster, auto components and aerospace components among others,” M N Vidyashankar, principal secretary, department of commerce and industries said.
He said Indian Machine Tool Manufacturers Association (IMTMA) has proposed to set up a machine tool park at the NIMZ and has sought 250 acres. Around 600 machine tool companies have shown interest to set up manufacturing units. The state high level clearance committee headed by the chief minister recently approved a proposal from Kennametal India for setting up a manufacturing unit at an investment of Rs 450 crore, he said.
“There are some 2,000 companies in the aerospace components sector in and around Bangalore that have shown interest to come together in one place. We will provide them land at the NIMZ,” he said.
In addition to the upcoming NIMZ at Tumkur, the state government is likely to get sanction from the Central government for one more NIMZ at Gulbarga. “We are also trying for the third NIMZ at Kolar,” he said.
Addressing the Karnataka Manufacturing Summit, organized by Assocham, here on Saturday, Vidyashankar said the state government would announce the new industrial policy by end of December 2013, which will replace the existing policy that expires in March 2014. “We will incorporate the recommendations of the task force on manufacturing headed by V K Viswanathan, chairman of Bosch, into the new industrial policy. The task force is submitting its recommendations to the state government by end of September,” he said.
To further boost the manufacturing sector in the state, the state government has decided to set up an angel fund for manufacturing with an initial corpus of Rs 15 crore. As and when required the fund will be infused with fresh funds. “The government will provide angel funding to young entrepreneurs to realize their dreams in the manufacturing sector,” he said.
The state cabinet headed by chief minister Siddaramaiah has approved the setting up of this angel fund at the meeting held on Friday, he said.