'K'taka to unveil new industrial policy soon'

Bangalore, Jun 20: The Karnataka Government will soon come out with a new industrial policy, offering a host of concessions and facilities to those setting up major industries in the State.

Disclosing this to reporters after attending a high-level meeting to discuss the proposed multi-vehicle manufacturing facility of Tata Motors near Dharwad, Deputy Chief Minister B S Yediyurappa said the State welcomed investments and was ready to extend all necessary help to the investors.

He said the Government would extend all concessions to Tata Motors that was offered earlier to German car major Volkswagon for setting up its Rs 976 crore factory. The company had sought for entry tax concession and the Government was ready to consider it.

The company had requested that VAT be converted into a soft loan, which would be repaid after 18 years. Besides, it had sought an additional 200 acres of land, apart from the 600 acres which had already been transferred.

''We will discuss this in tomorrow's Cabinet meeting and take a decision. The Government wants more and more major industries to come to the State and it will extend all necessary help to the investors. Any other industry which sets shop in the State will be extended the same concessions that is being extended to Tata Motors,'' he said.

Mr Yediyurappa, who also holds the Major Industries portfolio, said the Tata Motors factory would generate 1,400 direct and 4,700 indirect employment in Dharwad, being projected as an alternate investment destination.

Officials, who attended the meeting, included Industries Secretary Shivakumar, Labour Secretary Jyotiramalingam and KPTCL Managing Director Bharatlal Meena.

UNI

Related Stories