He’s often criticized for not being industry friendly enough, but on Saturday, on the eve of a major business event in Karnataka, chief minister Siddaramaiah listed several fresh investments coming into the state.
Two-wheeler manufacturer Hero Motocorp will set up a facility in Dharwad with an investment of Rs.1,700 crore to manufacture 4 million units annually. Asian Paints is investing Rs.1,700 crore in Mysore to set up a 125-acre facility with an annual capacity of 70,000 tonnes.
Toshiba Electric is investing Rs.290 crore in Vasantha Narasapur, Tumkur district.
Japanese automotive component manufacturer Nippon Piston Ring is setting up a Rs.170-crore facility at Malur in Kolar district.
Swedish auto manufacturer Volvo is looking forward to setting up a passenger car plant between Hoskote and Narsapura.
Siddaramaiah said the State High-Level Clearance Committee, chaired by him, has met thrice since he took over in May last year and cleared projects worth Rs.44,000 crore.
“Karnataka will take progressive steps to make it the most preferred business destination in the country. The new industrial policy will extend support to investors. There’s plenty of skilled and unskilled manpower in the state and investors will benefit from the policy,” chief minister Siddaramaiah said at a conference to announce a two-day Partnership Summit 2014 organized by CII to be held from Monday.
Karnataka is the partner state for the 20th edition of the summit at which 45 countries and over 1,000 delegates will participate. Siddaramaiah said the new policy will focus on, among other things, automobiles, textiles and other manufacturing. He said a Global Investors’ Meet will be held this October. The biannual event was held in June twice.
Karnataka was recently categorized as a ‘less developed state’ by a panel headed by RBI governor Raghuram Rajan, alongside Andhra Pradesh, Himachal Pradesh and West Bengal. A push for manufacturing, especially in the under-developed northern parts of the state, may be essential to improve the overall ratings.
Siddaramaiah said the state had identified four industrial nodes – Bidadi, Chitradurga, Kolar and Tumkur – on the Chennai-Bangalore industrial corridor project evaluated by the Japan International Cooperation Agency. The first interim report by the Centre has been sent back with the state’s consent. The final report is expected in June, after which the state will float a tender to develop a cluster-based approach in the four industrial nodes.
Two-wheeler manufacturer Hero Motocorp will set up a facility in Dharwad with an investment of Rs.1,700 crore to manufacture 4 million units annually. Asian Paints is investing Rs.1,700 crore in Mysore to set up a 125-acre facility with an annual capacity of 70,000 tonnes.
Toshiba Electric is investing Rs.290 crore in Vasantha Narasapur, Tumkur district.
Japanese automotive component manufacturer Nippon Piston Ring is setting up a Rs.170-crore facility at Malur in Kolar district.
Swedish auto manufacturer Volvo is looking forward to setting up a passenger car plant between Hoskote and Narsapura.
Siddaramaiah said the State High-Level Clearance Committee, chaired by him, has met thrice since he took over in May last year and cleared projects worth Rs.44,000 crore.
“Karnataka will take progressive steps to make it the most preferred business destination in the country. The new industrial policy will extend support to investors. There’s plenty of skilled and unskilled manpower in the state and investors will benefit from the policy,” chief minister Siddaramaiah said at a conference to announce a two-day Partnership Summit 2014 organized by CII to be held from Monday.
Karnataka is the partner state for the 20th edition of the summit at which 45 countries and over 1,000 delegates will participate. Siddaramaiah said the new policy will focus on, among other things, automobiles, textiles and other manufacturing. He said a Global Investors’ Meet will be held this October. The biannual event was held in June twice.
Karnataka was recently categorized as a ‘less developed state’ by a panel headed by RBI governor Raghuram Rajan, alongside Andhra Pradesh, Himachal Pradesh and West Bengal. A push for manufacturing, especially in the under-developed northern parts of the state, may be essential to improve the overall ratings.
Siddaramaiah said the state had identified four industrial nodes – Bidadi, Chitradurga, Kolar and Tumkur – on the Chennai-Bangalore industrial corridor project evaluated by the Japan International Cooperation Agency. The first interim report by the Centre has been sent back with the state’s consent. The final report is expected in June, after which the state will float a tender to develop a cluster-based approach in the four industrial nodes.
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