Mysore, Jul 21 (KNN)  Minister for Cooperation, Government of Karnataka, H S Mahadev Prasad said that the state government to woo investors would provide subsidies to industries and step up its exports.

Prasad said this after laying the foundation stone for an industrial export centre here on Saturday.

Located in Hebbal Industrial Area, the Mysore Export Centre is a project of Mysore Industries Association representing industries in Mysore, Mandya and Chamarajanagar districts with assistance from Ministry of Commerce, Government of India and Department of Industries and Commerce, Government of Karnataka.

Noting  that  the  new  industrial  policy  was  ready,  the  minister  said  that  the  state  had  registered  growth  in  the  industrial  sector  and  was  still  a  favourite  destination  for  investments  in  IT,  BT, electrical,   automobile,  aerospace,  food  processing,  tourism  and  other  sectors.  He  pointed out   that  the   state  had  60  per cent  of  the IT, BT  companies  in  the  country. 

Currently, there are more  than  160  exporters  in  Mysore,  Mandya  and  Kodagu  districts  alone.   To  address  the  grievances  of  the  industrialists, the  minister  said  that  an  industrial  adalat  would  be  held  soon. 

The Karnataka Government, according to Prasad is planning to develop more industrial clusters and proposals in this regard would be cleared soon.

Further, it is  keen  to  promote  industries  in  the  backward  Chamarajanagar  district  and has  plans  to  develop  an  industrial   area  on  1,400  acres  in  the  district.
He noted that there was a tremendous response from investors during the industrial road show held at Coimbatore.

The  minister also said  that  the  State  government  has  paid  a  compensation  of  Rs 20  lakh  per  acre  to  farmers  whose  land  has  been  acquired  at  Badanaguppe  village  in  Chamarajanagar  district  for  the  industrial  area.

Also speaking on the occasion, Member of Parliament R Dhruvanarayan  said  that  the  state government  should follow Tamil Nadu model  of  industrial  development  and  develop  clusters  for  various  products.  He said the Government of India will provide 80 per cent of the project cost upto a maximum of Rs 15 crore as grant for cluster development, pointing out that the state had immense potential for export development.

Other dignitaries present at the event were MLA’s Vasu, Tanveer Sait and M K Somashekar,  ZP in - charge President C J Dwarakish, Former MLA M Sathyanarana, Ex MLC’s Thontadarya and D Madegowda, CII Mysore Chapter Chairman R C Jagadish, Mysore Chamber of Commerce and Industry President A S Satish and General Secretary Suresh Kumar Jain. (KNN/ES)