Karnataka Udyog Mitra, a catalyst for investments

Posted By : Editor

The Udyog Mitra offers a clear roadmap for entrepreneurs in Karnataka and has been providing crucial direction and guidance for crores of investors over the last 15 years.

Karnataka Udyog Mitra is an organisation under the Department of Industries & Commerce, Government of Karnataka constituted to promote as well as facilitate investments in the state and assist entrepreneurs. It is a single point of contact for all investors looking at setting up businesses in Karnataka. As a nodal agency, the role of Udyog Mitra is to execute initiatives to enable a smooth transition from receiving an investment proposal to the eventual implementation of the project.

Today, Karnataka is driving domestic growth, building careers and creating wealth by offering a mix of resource, skill, technology and knowledge-based products and services. Udyog Mitra offers a clear roadmap for entrepreneurs and has been providing crucial direction and guidance for crores of investors over the last 15 years. As the investment promotion and facilitation agency of the State Government, Udyog Mitra functions as the Secretariat for grant of approvals and sanction of infrastructure facilities for approved projects.

The Department of Industries & Commerce acts as a catalyst for the overall development of Karnataka’s industrial sector by adopting developmental and facilitation roles. With a view to promote investment and trade, the department formulates and implements policies after identifying the sectoral advantages and considering opportunities for human resource development. The entire process is aimed at sustainable and growth-oriented industrialization.

The department also facilitates the take-off of infrastructure projects that boost industrial growth. It also helps enhance the competitiveness of domestic industry through modernization, technology upgradation and adoption of best practices. Providing a forum for entrepreneurs and industrialists to represent their needs to the Government, which translates into policies of the state, is another task of the department.

Some of the crucial infrastructure projects facilitated by the department include growth centres in the State Export Promotion Industrial Parks, International Technology Park Ltd., Electronic City, food and agro-technology parks, agro export zones, Special Economic Zones and Bengaluru International Airport.

The department is able to reach out to small businesses as well as large industrial houses by virtue of the high degree of decentralization carried out within the organizational structure. The department functions through the Districts Industries Centres, various Boards and Corporations and Special Purpose Vehicles. Under these bodies, various self-employment schemes formulated by the State and Central Governments are implemented.