Industry: An Overview Karnataka has the distinction
of being one of the five most industrialized states of the country
owing to its various intrinsic strengths for industry developments and
progressive & liberal industrial policies of the government. In recent times, Karnataka has emerged as the knowledge and technology hub of the country. Karnataka’s IT, Bio-Technology and electronic industries have given the state a respectable position on the global industrial map. The state has also witnessed large scale Foreign Direct Investment (FDI) in various industrial bases like Bangalore, Mangalore, Mysore, Hampi and Hubli.
Industrial Policy
The Government of Karnataka has formulated a new Industrial Policy and termed as “Industrial Policy of Karnataka 2001” which aims to achieve an average industrial
growth rate of 10% to 12% per year. Its Mission is to achieve an
economic growth rate of 8% to 9% over the next decade by promoting the
rapid growth of a market driven, knowledge based, efficient and competitive industrial sector.
The
state’s mission can be achieved by providing industry access to high
quality infrastructure, extending institutional support for technology
up-gradation, deregulating the business environment for an efficient,
proactive and transparent administrative framework and by catalyzing the
capabilities of human resources.
Major Industries- Electronics & Telecommunications
- Automobiles
- Agro Food Processing
- Apparel
- Biotechnology
- Information Technology
- Cottage (or Handicrafts)
- Tourism