Karnataka Large and Medium Industries minister Jagadish Shettar on Wednesday said the state's new industrial policy will aim at industrial growth in Tier-2 and Tier-3 cities.
"Industrial development in Karnataka has become Bengaluru-centric.
The new industrial policy will focus on taking industrial development to Tier-2 and Tier-3 cities," Shettar told reporters here after meeting a delegation of investors from Richen Capital Delegation from China.
Officials said the delegation has evinced interest in investing in the state.
Shettar said the previous industrial policy for three years is set to expire by year end and a new one is in the offing.
"The new draft policy is ready. After discussing with officials, we will implement it by December," he said.
The government has mooted the formation of Regional Development Authority with focus on industrial development in backward taluks, according to him.
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About the impact of the economic slowdown in the country, Shettar said only a few sectors have been affected such as automobile and real estate.
"Rest others are doing good," he added.
On sale of 3,667 acres to the JSW Steel in Ballari district, Shettar said a decision will be taken by the Cabinet as he alone cannot take a call on it.
When in the opposition earlier this year, the BJP had vehemently protested the sale of land to JSW Steel, saying that the government was selling it at a throwaway price and "it will not let it happen".
The party led by Chief Minister B S Yediyurappa, who was then the opposition leader, had staged demonstrations against the sale putting the then Congress-JDS government on the backfoot.
The previous government had decided to convert the lease of 3,667 acres to JSW Steel at Ballari into sale, in accordance with the initial agreement.
However, amid a row over the decision that drew opposition from various quarters, also the BJP and within, the then cabinet again discussed the issue and decided to refer it to a cabinet sub-committee.