To be a premier investment destination, the Karnataka government began identifying farmlands in rural areas to set up industrial units, Chief Minister H.D. Kumaraswamy said on Thursday.
"To make Karnataka a premier investment destination, our government has begun the process of identifying large acres of farmlands in rural areas to set up industrial units," Kumaraswamy said at a trade event here.
Unveiling the Indian machine tool manufacturers expo (Imtex) at the Bengaluru International Exhibition Centre, the Chief Minister said his government would soon set up an integrated facility for machine tool industry to create an ecosystem and make it competitive.
"As a joint initiative of the state and central governments, the Tumakuru Machine Tool Park will be set up in about 500 acres of land at Vasantha Narasapura industrial area in the district," Kumaraswamy told the gathering.
Tumakuru is about 70 km northwest of Bengaluru.
For ease of doing business, the government has initiated a host of new programmes and events like Imtex and Tooltex to hasten industry-led growth.
"Our state's technology engagement has attracted investments from the across the country and abroad, making Karnataka a favourite for investing in disruptive technologies like Artificial Intelligence, Automation, Data Analytics, Machine Learning, 3D Printing and Robatics," said Kumaraswamy.
As a pioneer in industrial development, Karnataka has been following a new industrial policy since 2014 for enabling the manufacturing sector grow at 12 per cent and attract Rs 5 lakh crore investments and create 15-lakh jobs.
"Karnataka has recently been ranked by the central government as one among the country's top three states for highest employment generation," said Kumaraswamy.
The eight-month-old Janata Dal-Secular-Congress coalition government has also identified nine districts across the state to set up industrial clusters for fostering innovation and product diversification.
"We have identified Ballari, Bidar, Chikkaballapura, Chitradurga, Hassan, Kalaburgi, Kolar, Koppal and Mysuru for the clusters. We intend to expand our state network to tap the huge talent available in tier-2 and tier-3 cities," said Kumaraswamy.
Industries Minister K.J. George, Revenue Minister R.V. Despande, Confederation of Indian Industry (CII) Vice President Vikram Kirloskar and leading industrialist Jamshyd N. Goderej were present on the occasion.
Leading Indian and overseas machine tool makers are showcasing their technologies and products at the 5-day expo-cum-summit.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)