Bengaluru: A new industry plan has been made to give concessions to the organization originating from China. As a result, in the next 5 years, multinational companies are expected to invest Rs five lakh crore in the state. This talk has been spoken by the Minister of Large Enterprises Jagdish Shettar.

In this regard, he said that due to this investment on such a large scale, two million people can get employment in the state. The Karnataka Land Reform Law has been amended because entrepreneurs have no problem in purchasing land for setting up industries. This will give a new dimension to the industrial development of the state.

He further said that amendment has been brought in the labor law, in which the employees can now work for ten to fifteen hours instead of eight hours and now the women workers can also work in the morning or night sift. The state is currently in fourth place in terms of industrial development, a target has been set to move it to third place with ten percent growth rate. At the same time, special discounts are being given to those who invest in backward districts of the state. Priority is being given to investments in auto mobile, defense, electric vehicles, medical equipment and renewed energy sector. He further said that under the new enterprise policy, businesses of all major, micro, small and middle classes will be encouraged. Basic facilities will be provided in industrial areas of all districts of the state.

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