Karnataka to provide 25-30% subsidy to businesses willing to invest in state: Minister CN Ashwath Narayan

Bengaluru, Nov 3 (KNN) All the investors who are willing to invest in Karnataka will be able to receive a largest percentage of their capital within the country, with a subsidy of 25 to 30 per cent, said CN Ashwathnarayan, Minister of Skill Development, Entrepreneurship and Livelihood on Wednesday.

He was speaking in the session on ‘Emerging Trends in Globalization and Opportunities for India’ on the first day of the ongoing Global Investors Meet.

During his address, the Skill development minister also said that nine lakh jobs will be created in the next nine years in Karnataka. “The 11 clusters in the state will help in creating employment,” he said.

“Several clusters dedicated to the manufacture of products like electric vehicles in Ramanagara, pharmaceuticals in Yadgir, toys in Koppal and Fast Moving Consumer Goods (FMCG) in Dharwad will start operations. These will help pave the way for balanced growth of Karnataka,” the minister added.

The Karnataka government in the recent pass has implemented several measures and policies to benefit all modern industries.

Ashwathnarayan further highlighted that Karnataka will be the first state to implement the National Education Policy.

The ongoing GIM will have several country sessions with representatives from South Korea, The Netherlands and Japan speaking on relations with India in terms of investment. Representatives from Japanese automobile firms also spoke on helping provide mobility-related solutions in the state. Sessions involving Germany and France will be held on Thursday, with Australia holding a country session on Friday.  (KNN Bureau)