Hubli, Feb 22 (UNI) Karnataka Industries Minister Katta Subramanya Naidu today announced the setting up of a multi-purpose Special Economic Zone (SEZ) in Hubli-Dharwad to help growth of industries in the North Karnataka region.
Inauguratig a five-day mega industrial exhibition Incomex-2007 at the Jawaharlal Nehru grounds here, he said a policy on SEZ would be announced in the coming budget.
The Minister said the State stood second in industrial development and had exported industrial products worth Rs 80,000 crore. The Government proposed to increase it to Rs 1.30 lakh crore in the future.
He said the Centre had agreed to enhance the State's share in the central tax on industries from the present Rs one crore to Rs two crore. The State Government would soon release Rs 80 crore subsidy due to the small scale industries.
Karnataka Revenue Minister Jagadish Shettar, who presided, announced that the State Government proposed to have an industrial investors meet here in April or May this year on the lines of the IT investors meet, to help growth of industry in the region.
He said the State Cabinet had approved allotment of 53 acres of land for IT industry in Hubli-Dharwad and several companies have come forward to start their business.
Mr Shettar said the process of acquiring 650 acres of land for the upgradation of Hubli airport to international standards had commenced. The Aiports Authority of India had given in principle approval and work was expected to be completed in two years.
''For setting up of SEZ in the area, about 2,500 to 3,500 acres of land was available around the twin cities,'' he added.
UNI
Inauguratig a five-day mega industrial exhibition Incomex-2007 at the Jawaharlal Nehru grounds here, he said a policy on SEZ would be announced in the coming budget.
The Minister said the State stood second in industrial development and had exported industrial products worth Rs 80,000 crore. The Government proposed to increase it to Rs 1.30 lakh crore in the future.
He said the Centre had agreed to enhance the State's share in the central tax on industries from the present Rs one crore to Rs two crore. The State Government would soon release Rs 80 crore subsidy due to the small scale industries.
Karnataka Revenue Minister Jagadish Shettar, who presided, announced that the State Government proposed to have an industrial investors meet here in April or May this year on the lines of the IT investors meet, to help growth of industry in the region.
He said the State Cabinet had approved allotment of 53 acres of land for IT industry in Hubli-Dharwad and several companies have come forward to start their business.
Mr Shettar said the process of acquiring 650 acres of land for the upgradation of Hubli airport to international standards had commenced. The Aiports Authority of India had given in principle approval and work was expected to be completed in two years.
''For setting up of SEZ in the area, about 2,500 to 3,500 acres of land was available around the twin cities,'' he added.
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