News Karnataka
Wednesday, November 30 2022

Dharwad dist receives investment proposals worth Rs 500 Crore

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Hubballi: In the last two years, Dharwad district has received investment proposals to the tune of Rs 500 Crore in the Micro, Small, Medium Enterprises (MSME) sector, Joint Director of District Industries Centre (DIC), Dharwad, P Nagesh has said.

Speaking to reporters in Hubballi along with the President of Karnataka Chamber of Commerce and Industry (KCCI) Ramesh Patil on the awareness programmes being conducted in Hubballi on the Vendor Development and Investors Summit to be held in Bengaluru, Nagesh said that there were proposals pertaining to the setting up of around 2,000 MSME units in the district, with the objective of creating hundreds of employment opportunities.

He, however, said that it was difficult to quantify the time within which the investment proposals would materialise. “There are various technical issues which may delay the execution of the proposals”, he said.

“Most of the proposals for Dharwad district pertain to valve components and precision equipment. Attempts will be made to attract investors to set up bigger industries in the region,” he added.

To another query, Nagesh said that the state government had sanctioned Rs 157 Crore in the last two years to improve the infrastructure in the industrial estates of the district but despite the efforts, the district was yet to get major players to invest in the region.

Ramesh Patil said there was a need for the state government to announce special package or incentive to attract investors to tier-II and tier-III cities in the State during the Investors Meet in Bengaluru so that they opted for smaller cities instead of just focusing on Bengaluru.


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