Draft of new industrial policy to be tabled in 10 days: Karnataka minister

A draft of the new industrial policy to develop industries in the second and third tier cities of Karnataka would be presented before the Cabinet in the next 10 days, a state Minister said on Friday.

The Minister for Medium and Large Industries Jagadish Shettar said, "The Governor has approved the Karnataka Industrial Facilitation Amendment Act which was recently approved by the Cabinet."

Such changes would make Karnataka the number-one industry-friendly state in the country, he said while addressing the International MSME Day celebrations organised by the Federation of Karnataka Chamber of Commerce and Industry (FKCCI).

Shettar said the draft industrial policy would focus on developing industries in the second and third tier cities of the state.

The policy would encourage investors to favour the establishment of industries in the backward taluk and hoblies besides easing the pressure on Bengaluru city.

The Minister said migrant workers of north Karnataka would find a source of employment in their respective districts with the development of industries in the second tier cities. He was optimistic of the recent land reform and labour policies making the state more industry-friendly. He promised to examine and adopt the advice of the state's industrial bodies in the near future.