Government tables Bill to establish, operate, manage mega investment regions in Karnataka

The objective of the Karnataka Special Investment Region Bill, 2022 is to retain the State’s position as a global manufacturing hub, specially enabling economic activity, supported by world class infrastructure, premium civic amenities, centres of excellence, and proactive policy framework

The Karnataka Special Investment Region Bill, 2022, was tabled in the legislative Assembly on December 20 to establish, operate, regulate and manage large or mega or super mega size investment regions and industrial areas or clusters in the State.

Law and Parliamentary Minister J.C. Madhuswamy introduced the Bill whose objective is to retain Karnataka’s position as a global manufacturing hub, specially enabling economic activity, supported by world class infrastructure, premium civic amenities, centres of excellence, and proactive policy framework.

The State Government, through notifications, will declare an existing or proposed investment region or industrial area to be a special investment region (SIR) and determine its geographical boundaries. Such an SIR would be out of the jurisdiction of the local authorities.

The Karnataka Industrial Area Development Board (KIADB) would be the apex authority for regulating development, operation, framing norms, and management of the SIRs, and development of infrastructure within the region.

The authority will be empowered to approve the plan for land use, development plan, grant permission for economic activity, fix user charges proposed by the regional development authority or government agency, and to monitor the development of the SIR.

The State Government will constitute a regional development authority (RDA) for the SIR. The RDA will have powers to acquire, hold and dispose of movable and immovable property. Instead of constituting an RDA, the government will have the power to designate its own agency or company as the RDA, and empower it to exercise all the powers and perform all the necessary functions.

The chairman, the executive officer, the general manager and two officials of the RDA will be appointed by the government while one officer will be nominated by the apex authority.