Karnataka seeks to attract more business with smaller plots

The Karnataka government is initiating policy changes to make the state attractive for investors. The government, in its bid to promote entrepreneurship, has proposed to provide 3,000 smaller dimensioned industrial plots measuring 1,500 sq ft to 5,000 sq ft at reasonable prices to local first generation entrepreneurs.

The preference will be given to candidates who have successfully completed State Entrepreneurship Development Programmes, the government said in a statement.

Apart from this, the land acquisition procedures and necessary amendments to Karnataka Land Reforms Act and KIAD Act are being simplified to help entrepreneurs. The announcement came in view of the forthcoming Partnership Summit 2014, which will be held in Bangalore from January 27 to January 29.
 

Together with this supply of secondary / tertiary treated water is also planned for the existing or proposed notified industrial areas. Upgrading the existing industrial areas into industrial townships is also visualised through public private partnership model of implementation.

An increase in power generation is also visualised. Karnataka is ranked second in installed hydro electricity capacity at 3,656 Mw. It is also the third largest generator of energy in India, through renewable energy sources. Total installed power capacity in Karnataka is 12,367 Mw in 2011as per data released by Ministry of Power.

Balanced Regional Development
Through the Summit, the government strategises to bring about a balanced regional development across Karnataka. To this end there will be reclassification of Talukas of the state into Zones depending on Industrial backwardness of Talukas based on broad guidelines of D M Nanjundappa Committee Report.

"The reclassification of Talukas will help spreading the infrastructural development evenly across the state. While it helps investors to find cost-effective land holding and infrastructure, it also helps in distributing the employment possibilities to the under developed Talukas of the state.

Encouraging the first generation entrepreneurs would not only help the state to build more manufacturing units, but it would act as support systems for the already established businesses. In short, it is for anyone to see that the best times are ahead for entrepreneurs and investors who forge ahead along with the state's development agenda," the statement said.