Karnataka's industrial policy to push mobile production to Rs 30K cr: ICEA

The new industrial policy provides for reimbursement of stamp duty and registration charges, reimbursement of land conversion fee, power tariff reimbursement and exemption from electricity duty

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 120,000 jobs by 2023, mobile handset and electronics body ICEA said on Sunday.

In August, Karnataka announced New Industrial Policy (NIP) 2020-25 which has a provision to incentivise mobile manufacturing.

The India Cellular and Electronics Association (ICEA), whose members include Apple, Winstron, Lava, among others, said specific policy incentives such as production linked incentive of 1 per cent of annual turnover during the policy period for five years is a welcome and bold step by the state government.

"We