Minister for Large and Medium Industries Jagadish Shettar said that with the objective of facilitating industrial development in backward districts and taluks, a new law for establishment of special investment zones with a focus on Hubballi-Dharwad, Shivamogga, and Kalaburagi will be formulated soon.
Speaking at Hubballi on Saturday, he said that taluks identified as backward industrially had been grouped according to the zones.
“The objective is to ensure industrial development in tier-2 and tier-3 cities and also in rural areas. And to facilitate the same special investment zones will be created and separate incentives and rebates will be provided. In the forthcoming session, the Special Investment Zone Bill will be tabled,” Mr. Shettar said.
The Minister said that with the recent amendments to the Karnataka Land Reforms Act, now people who were not into farming or not owning farmlands could also purchase agricultural land.
“With this amendment now industrialists can buy required agricultural land and convert the same for industrial use by following necessary guidelines and making self declaration. They can immediately start construction activities and get the required permits in the next three years,” he said.
