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Karnataka earmarks 520-acres on CBIC to lure Japanese investments

Anil Urs Bengaluru | Updated on January 18, 2021

Karnataka Chief Minister BS Yediyurappa   -  V Sreenivasa Murthy

The Karnataka government has earmarked over 520 acres to set up Japanese Industrial Township near Tumakuru.

Gunjan Krishna, Commissioner for Industrial Development and Director, Department of Industries & Commerce tweeted today “I welcome our partners from #Japan to Karnataka! #JapaneseIndustrialTownship will open up multiple investment and employment opportunities in the state.”

A senior official from the State Industries and Commerce Department said, “There are over 500 Japanese companies in India, and Karnataka is home to one of the largest clusters for companies from Japan. The industrial township coming up near Tumakuru will encourage investments and create employment on a large scale.”

“With an aim to create employment opportunities, the state government is focused on heavy engineering, machine tools, aerospace and auto components,” the officer added.

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The township is part of the Central government cleared ₹1,701.81 crore Tumakuru Industrial Area under the Chennai Bengaluru Industrial Corridor project.

The state government keeping the investor-centric approach, has included industrial township as part of New Industrial Policy 2020-2025, to create employment opportunities for the youth. The industrial policy to be formally announced is expected to introduce path-breaking changes like production-linked incentives.

Published on January 18, 2021

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