State will give cash sops to foreign investors Wants Industry To Go To Taluks

images2Beijing: Karnataka is set to offer hard cash to foreign investors prepared to put in substantial sums of money in areas outside
Bangalore. The state says it is going far beyond the incentives being offered by other states like Gujarat that are competing for moolah from overseas destinations, including China.

“We will do all that is necessary to attract foreign investment. I have decided to visit foreign countries once every three months to
bring in funds,” chief minister B S Yeddyurappa told TOI in an interview.

Murugesh R Nirani, minister for large and medium scale industries, listed several incentives being offered by his government to attract at least $42 billion (Rs 2 lakh crore) in investments in the coming months. “We will pay the cost of hiring unskilled workers for the first
three years of operation of any new company,” Nirani said. The decision has been taken in principle by the government and will be announced