BENGALURU: Chief Minister Basavaraj Bommai said on Thursday that the State Government has signed MoUs worth Rs 1.3 lakh crore for the development of renewable energy in Karnataka. He was speaking at the inauguration of the three-day India Manufacturing Show 2022 organised by Laghu Udyog Bharati Karnataka, where he said that the state will also soon start work on developing hydrogen fuel as an alternative fuel source.
“We want to set up renewable energy industries along the Karnataka stretch of the Mumbai-Chennai corridor. Production of biofuel, solar energy and hydrogen fuel will be prioritised, with Karnataka leading the way,” he said.
He also stated that more incentives will be prioritised for companies offering job opportunities to the youth and that Karnataka is setting a goal to become a trillion dollar economy by 2025. Large and Medium Industries Minister Murugesh Nirani said that the government is trying to implement more policies to accelerate development of industries, which also includes elimination of the need for occupancy certificates as well as registration of industrial land.
Meanwhile, Union Minister for Parliamentary Affairs, Coal and Mines, Pralhad Joshi, said that the switch to India becoming a developed nation by 2047 would only happen if industries and businesses are strengthened.