Govt to set up industrial development authorities

In a bid to encourage investment in tier-II cities by drawing investors away from Bengaluru, the state is mulling to set up Regional Industrial Development Authorities, according to Large and Medium Industries Minister Jagadish Shettar.

The proposal, he said, was part of the new industrial policy of Karnataka government plans to introduce from December. Speaking to reporters on Wednesday, Shettar said that draft of the new policy for the period 2020-24 was being readied.

“It will be finalised in the next two-three meetings and released by the end of December,” he said.

Shettar said that the proposed authorities would be empowered to offer incentives to attract investments in their specified areas.

To a question on controversy over land allotted to JSW steel, the minister said that the state government had not yet made any decision on the sale of 3,667 acres of land to the private firm.

“I am yet to study the documents related to the case and a decision will be made after consultation with the Cabinet,” he added.