K'taka to create SEZ for Gem, Jewellery Industry

Bangalore, May 12 (UNI) The Karnataka Government has come forward to establish an exclusive Special Economic Zone (SEZ) to promote the Gem and Jewellery Industry in the city, Small Scale Industries and Sericulture Minister Katta Subramanya Naidu informed today.

Speaking to newspersons here, he said the state government had agreed to allocate land for forming the SEZ following a request to this effect from the All India Gem and Jewellery Association.

Mr Naidu said the Association had promised to invest over Rs 15,000 crore in the proposed SEZ where it would establish a gem and jewellery park, a training centre for artisans and international standard malls and also export house for diamonds and jewelleries.

The proposed SEZ would also provide over 70,000 job opportunities in the areas of diamond cutting, polishing and jewellery making and marketing.

To a question, Mr Naidu said the state government was inclined to allot 200 acres of land at market price to promote the industry.

Mr Naidu said the state government had released Rs 146 crore towards payment of subsidy arrears due to small and medium industries. The total subsidy arrears was over Rs 310 crore. The remaining amount would be released soon, he assured.

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