The Siddaramaiah cabinet has not only approved the Karnataka Industrial Policy 2025-30 but also greenlit several major infrastructure projects, including funding for the expansion of IIIT-Bengaluru. This comes shortly after the conclusion of Invest Karnataka 2025 — the Global Investors’ Meet.
As part of the Rs 817-crore project for IIIT-Bengaluru, the State government will allocate Rs 285.95 crore, which represents 35% of the cost. Of this, Rs 25 crore will be available for the 2024-25 budget, while the remaining amount will be spread across seven years. IIIT-Bengaluru will need to secure the remaining funds through CSR initiatives.
In addition, the cabinet has approved the creation of a Rs 75 crore cluster seed fund to promote startups beyond Bengaluru, focusing on cities like Mysuru, Hubballi, and Mangaluru. Furthermore, a semi-conductor accelerator lab 2.0 will be set up at a cost of Rs 70.805 crore, with the state contributing Rs 50.33 crore between 2025 and 2030 to foster sector growth.
The cabinet also approved outsourcing 306 skill trainers and 10 professional coordinators across 306 government high schools in the Kalyana Karnataka region, as part of the National Skill Qualification Framework.
Other decisions included approving the construction of an Elevated Rotary Flyover at IOC Junction, 16 work packages under the Karnataka Water Security and Resilience Programme, and the modernisation of water supply services in Bengaluru.
Additionally, the cabinet has endorsed the creation of a committee to review civil work revisions, with a report expected in the next meeting.
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