Karnataka to avail Rs 5,000 crore loan to facilitate water supply and infrastructure in industrial areas

Karnataka minister MB Patil

Karnataka Large and Medium Industries Minister MB Patil on September 5 said that the state government plans to avail a loan of Rs 5,000 crore to develop new industrial areas and improve infrastructure, including a dedicated river water supply for these areas.

Speaking at 'Innoverge' an event organised by the Confederation of Indian Industry (CII), Patil said: "Many industrial areas lack proper infrastructure, especially a dedicated water supply system. The government is looking for a solution and is in discussions with the finance department."

Also, read: Karnataka budget: Government to set up startup park near Bengaluru airport

He said, "The dedicated water supply plan requires about Rs 2,000 crore, while the remaining Rs 3,000 crore will be used for infrastructure development and land acquisition for new industrial areas,

Patil also revealed that land for the Startup Park in Bengaluru has been identified. Sources said Startup Park is likely to come up in Sarjapur. The previous BJP government had also announced plans to establish a Startup Park near Kempegowda International Airport, but the project did not take off.

The proposed park is expected to feature a plug-and-play facility with an ecosystem for developing prototype solutions and market-ready scalable products, focusing on emerging technologies such as agri-tech, climate-tech, and deep-tech.

The minister said he has also directed officials to identify land for another software park, which will be established in Belagavi. "This software park is expected to focus on the Med-tech sector". Patil stressed the importance of creating a skilled workforce to support the growth of industries in emerging sectors.

Also, read: 'Beyond Bengaluru': Karnataka plans to transform Mysuru into a startup and tech hub