Karnataka Govt Approves Industrial Projects Worth Rs 11,500 Crore, To Generate 47,000 New Jobs

In the 58th SHLCC meeting that was held at Vidhana Soudha under the aegis of Chairman Basavaraj Bommai and Vice Chairman of Large & Medium scale industries cleared the projects

Karnataka CM Basavaraj Bommai. (Image: PTI File)

New Delhi: Basavaraj Bommai's government in Karnataka on Monday approved industrial projects worth Rs 11,495 crores that would provide jobs to over nearly 46,984 people in the state.

In the 58th State High Level Clearance Committee (SHLCC) meeting that was held at Vidhana Soudha under the aegis of Chairman Basavaraj Bommai and Vice Chairman of Large & Medium scale industries cleared the projects. In view of generating employment in the state, the committee has approved nine new projects with five new projects and four additional investment projects to further develop the industrial culture in the state, reported News Minute.

Of the Rs 11,495 crore, Rs 6,000 crore will be invested by Exide industries aiming at generating 1,200-1,400 jobs. The Exide industries will set up India's largest Lithium-Ion cell manufacturing unit near Bengaluru airport.

After approval, Large & Medium Industries Minister Murugesh Nirani reportedly said that the proposals approved by the government display the interest of investors to invest in Karnataka as a preferred destination.

"These industrial projects have the potential to generate nearly one lakh jobs in the state. Our government has been giving preference to investment proposals that have the potential to create jobs. Our policies, proactive steps and the prevailing business ecosystem are encouraging investors to invest in Karnataka. The investor-friendly atmosphere in the state is not available anywhere in the country," New Minute said, quoting Nirani.