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Karnataka receives proposals for Rs 50,000-cr investments
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Aims to develop Tier II and Tier III cities
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Mangalore
Jan. 22
The Karnataka Government has received applications from several investors showing interest to invest around Rs 50,000 crore in various sectors.
The Government has received investment proposals for 148 projects in the State, according to the Karnataka Industries Minister, Mr Katta Subrahmanya Naidu.
He told presspersons in Mangalore on Monday that a meeting on January 25 will scrutinise these proposals to accord permissions.
The Minister said that the Karnataka Development Front (KDF) Government has cleared investment proposals to the tune of Rs 80,000 crore in various sectors after it assumed office last year. Till now, 786 small enterprises and 84 medium and large industries have been given permission to start their projects.
Investor meet
The aim of the Government is to develop Tier II and Tier III cities. In this regard, the Government has been conducting investors' meet in various parts of the State. It received investment proposals to the tune of Rs 564 crore at the recently concluded investors' meet at Shimoga.
The Government is focusing on attracting investments to automobile clusters in Hubli and Shimoga, and in Belgaum's cement cluster.
Considering the vast talent pool and abundant natural wealth in the Mangalore and Udupi regions, the Government is focusing on setting up information technology units and tourism-related projects in the region.
Stress is on attracting investments in the food-processing and apparel sectors in Mangalore and Udupi regions, Mr Naidu added.
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