Priyank Kharge pitches GIFT City in Karnataka, urges Union govt to fast-track approvals

Karnataka IT-BT minister Priyank Kharge

The Karnataka government has urged establishment of a dedicated Central Business District akin to Gujarat's GIFT City in Ahmedabad.

Ahead of the Union Budget, Karnataka IT-BT minister Priyank Kharge met Union ministers Nirmala Sitharaman and Ashwini Vaishnaw. He urged the ministers for expedited clearance of various projects across sectors.

Kharge emphasised Karnataka's ambition to create a Central Business District serving as a global hub for finance and IT.

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He highlighted the state's robust economy, driven by sectors such as IT, BT, aerospace, automotive, textiles, and heavy industries. "Strategically located, Karnataka is ideally positioned to replicate such a business hub," he said.

"A GIFT City in Karnataka would boost economic growth, generate employment, and attract foreign investments," he said.

To enhance the existing ecosystem for attracting investments in the Electronics System Design and Manufacturing (ESDM) sector, Karnataka is developing two land parcels under the Union government’s Modified Electronics Manufacturing Cluster (EMC 2.0) scheme: Kochanahalli Industrial Area in Mysuru district and Kotur-Belur Industrial Area in Dharwad district.

"We are also planning to establish two more EMCs in and around Bengaluru," Kharge said in a press release.

Kharge also urged Union government to expedite approvals, noting that investors await final land allotments. "Key projects awaiting clearance include Adinarayanhosahalli in Bengaluru Rural district and Vasantanarsapura in Tumakuru district," the release stated.