Karnataka's Bold Plan: Rs 5,000 Crore Loan for New Industrial Areas

Karnataka's Large and Medium Industries Minister MB Patil announced plans for a Rs 5,000 crore loan to develop new industrial areas and their infrastructure, including dedicated water supply systems. The state aims to address existing infrastructure gaps and establish a Startup park in Bengaluru and a Med-tech software park in Belagavi.

Karnataka's Large and Medium Industries Minister MB Patil announced on Thursday that the state government is seeking a Rs 5,000 crore loan to develop new industrial areas and improve infrastructure, including a dedicated water supply.

Currently, many industrial areas lack essential infrastructure like a dedicated water supply system. The government is working with the finance department to address this issue.

Patil revealed that Rs 2,000 crore of the loan would go towards the water supply project, while the remaining Rs 3,000 crore would be used for infrastructure development, new industrial areas, and land acquisition. He also noted that land for a Startup park in Bengaluru has been identified and plans for a Med-tech software park in Belagavi are underway.

Patil underscored the need for a skilled workforce to benefit from the growth in emerging industrial sectors.

(With inputs from agencies.)