BENGALURU: A few days before the the Global Investors Meet, the Karnataka government, on February 10, declared 1490.65 acres of land developed by Karnataka Industrial Area Development Board (KIADB) in Bidadi as a Special Investment Region.
The notified area includes Bidadi First and Second Phase- Sector 1 and 2 industrial area zones in Ramanagara district.
The order was issued based on a proposal from the Commerce and Industries Department and was made public on Monday. P Selva Kumar, Secretary of the Department told TNIE that the Special Investment Region Act was introduced in 2022, with the rules framed in 2024, allowing for the identification of key industrial areas for development.
The Electronics City Industries Association model served as the base for drafting the Act and its regulations. Under this, 70% of the revenue and taxes collected are allocated to the local body for improvements, while 30% goes to the state government as tax revenue.
“The government has listed 20 industrial regions to be developed under the ELCIA model, where KIADB is spearheading development efforts,” Kumar added. An official further explained that the Bengaluru Metropolitan Region Development Authority has long envisioned Bidadi as township.