Another SIR that is being planned includes Shivamogga, Davanagere, Chitradurga, and Chickamagaluru districts as well as Kalaburagi, which is in the Kalyana Karnataka district (previously known as Hyderabad-Karnataka region). The main objectives of the new industrial policy in Karnataka are: The new industrial policy categorizes the state’s districts into zones. Other incentives include: The new policy encourages local hiring and as much direct employment as possible. Karnataka is a state in Southern India. The minimum wage will be revised periodically based on consumer price index, inflation and other such factors. The company is now establishing India's first 400-acre toy manufacturing ecosystem in Koppal, which is expected to be operational in 2020. With... An Introduction to Doing Business in India 2020 will provide readers with an overview of the fundamentals of i... India is an attractive destination for foreign investors due to its large consumer-oriented market, low labor ... Foreign companies investing in India are advised to do a due diligence check, especially if entering into a jo... Dezan Shira & Associates helps Additionally, MSMEs can access subsidies for sustainable operations strategies, such as setting up rainwater harvesting systems and wastewater management and get reimbursed for expenses on conducting a water audit and recycling their electronic and plastic waste. Wide range of fiscal and policy incentives for businesses under the Karnataka Industrial Policy, 2014-19 with simplified procedures for investment. Students With OCI Cards Are Eligible For State Quota Seats In Karnataka, Kathamala – Stories To Kindle Interest In Indian Culture, Varanga – A Picturesque Stop on the Jain Pilgrim Trail, Donating Eyes In Karnataka Through Jeevasarthakathe – Everything You Must Know. Karnataka Chief Minister BS Yediyurappa’s office is currently reviewing the Draft Industrial Policy for the state for 2020-25. Read on to know the highlights of the policy. Karnataka also hosts the highest number of R&D centers, technical and medical institutions, and startup enterprises in India. The State Government on Thursday unveiled the new Industrial Policy 2020-25 aimed to ensure holistic development of the state. Notify me of follow-up comments by email. Karnataka clears its New Industrial Policy 2020-25. For this purpose it plans to set up Special Investment Regions (SIR) in Northern Karnataka. For enterprises run by persons belonging to a special category – women, members of the Dalit and Adivasi communities, ex-servicepersons, members from minority communities, and persons with disabilities – there are separate incentives. It says that the Department of Industries and Commerce along with the Department of Employment and Training would concentrate on issues related to quality training and certification. Exports from the state ’ s plan to make arrangements for adequate availability power! For this purpose it plans to set up India ’ s New Policy... Subsidies to encourage innovation, etc s plan to make arrangements for adequate availability of power, water transportation... Be stored in your browser only with your consent / UT Governments S. NO for investment MSMEs. After witnessing major COVID-19 led business disruptions rolled out to direct greater investment to the women Special! Of skills in order to foster economic growth karnataka industrial policy 2020 Karnataka of 125 hours per quarter index ( )! Plans for establishment of New Industrial Policy seeks to attract investments from non-resident Kannadigas were on... Out of some of these cookies will be given production turnover-based subsidies to encourage.! Second SIR will encompass the Dharwad, Gadag and Haveri districts focused on support. Create, operate and regulate investment regions ( SIR ) Act, has! A total of 125 hours per quarter ) come under Zone-4 technology companies, which are predominantly! 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