Latest News | Karnataka to Unveil New Industrial, EV Policies at Global Investors Meet Next Month

New Delhi, Jan 22 (PTI) The Karnataka government will announce a new industrial policy and two policies on electric vehicles and clean mobility at the Karnataka Invest Summit in Bengaluru next month, Industries Minister M B Patil said Wednesday.

Setting a "realistic target" of Rs 10 lakh crore investments, Patil said 80 per cent would materialize, unlike the previous summit where Rs 2.60 lakh crore in hydrogen project commitments did not take off.

Also Read | Ladki Bahin Yojana January 2025 Instalment Date: When Will Women Beneficiaries Receive INR 1,500 in Maharashtra?.

The new policy offers flexible incentives based on capital investment and turnover. Companies undertaking manufacturing innovation research will get 10 per cent incentives, while district and taluk-level investments will receive an additional 5 per cent. Special incentives target women's employment, he said during a roadshow here.

The government has upgraded single-window clearances using AI to halve proposal processing time. A dedicated water supply for industries and a new pharma park near Bengaluru are planned.

Also Read | JioCoin Cryptocurrency: How To Earn Jio Coins for Free? How To Use Them Across Jio Apps and Services? Check Step-by-Step Process Here.

Principal Secretary Selva Kumar highlighted the state's affidavit-based clearance system, allowing businesses to start operations without multiple approvals for three years. Recent reforms enable flexible work timings for women, including night shifts.

The next roadshow will be held in Mumbai.

Industries Commissioner Gunjan Krishna was present at the event.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)