What is (KIADB), Karnataka Industrial Areas Development Board?
The KIADB full form is The Karnataka Industrial Areas Development Board, it is a government organization that is responsible for the development of industrial areas in the state of Karnataka, India. The board was established in the year 1966 and since then, it has been working towards its goal of developing world-class industrial infrastructure in Karnataka. The board has developed many industrial areas such as the Bangalore International Airport area, Peenya Industrial Area, and Bidadi Industrial Area, Machine Tool Park It is also responsible for the development of SEZs (Special Economic Zones) in Karnataka. The board provides various services to industries such as water supply, electricity, roads, drainage, and sewerage. It also provides plots and sheds for industries to set up their businesses. The board offers a one-stop solution for all the requirements of industries setting up their businesses in Karnataka.
What is KIADB?
The Karnataka Industrial Areas Development Board (KIADB) is a statutory body formed under the Karnataka Industrial Area Development Act, 1966. The Board is responsible for the development of industries and infrastructure in designated industrial areas in the state of Karnataka, India.
The Board provides various services to industries including land acquisition, site development, water supply, power supply, roads, and drainage. In addition, the Board also provides incentives and subsidies for setting up industries in Karnataka.
The vision of the Karnataka Industrial Areas Development Board is to promote industrialization in Karnataka and to create an enabling environment for investments in industry and infrastructure. The board strives to provide quality service to industries and be a catalyst for economic growth in the state.
Read – What is (KSIIDC), Karnataka State Industrial and Infrastructure Development Corporation?
The Different Types of Industries in Karnataka
Karnataka is one of the most industrialized states in India. The different types of industries established in Karnataka are:
1. Manufacturing Industries: Karnataka is home to some of the biggest manufacturing industries in India, such as Hindustan Aeronautics Limited (HAL), Bharat Heavy Electricals Limited (BHEL), and Indian Telephone Industries (ITI). These industries are known for their high-quality products and services.
2. Information Technology (IT) and Information Technology Enabled Services (ITES) Industries: Karnataka is a leading destination for IT and ITES companies in India. Some of the major IT/ITES companies that have set up bases in Karnataka include Infosys, Wipro, and Tata Consultancy Services (TCS).
3. Biotechnology Industry: Karnataka is also a hub for biotechnology companies in India. Some of the major biotechnology companies present in Karnataka include Biocon, Bangalore Genei, and NewGen BioLabs.
4. Automobile Industry: Karnataka is home to a large number of automobile companies, both domestic and foreign. Some of the major automobile companies present in Karnataka include Volkswagen, General Motors, BMW, Hyundai, and Toyota.
5. Mining Industry: Karnataka is rich in minerals, making it one of the leading states in terms of mining activity. Some of the major minerals found in Karnataka include iron ore, manganese,
The Pros and Cons of Investing in Karnataka
Investing in Karnataka has its pros and cons. On the plus side, Karnataka is home to some of India’s most developed industries and companies. The state also boasts a highly educated workforce. Additionally, there are many opportunities for investors in Karnataka due to the state’s rapid economic growth.
On the downside, however, investing in Karnataka can be risky. The state has a history of political instability and violence, which can deter potential investors. Additionally, the infrastructure in Karnataka is not always up to par, which can lead to logistical issues for businesses.
What Incentives gvt. offer for Investing in Karnataka?
The Government of Karnataka has established the Karnataka Industrial Areas Development Board (KIADB) with the objective of developing industrial areas in the state and providing infrastructure facilities for industries.
The Board is responsible for the acquisition of land, development of infrastructure facilities, and provision of utilities for industries. It also provides financial assistance to small and medium enterprises for setting up industries in Karnataka.
Some of the incentives offered by KIADB for investing in Karnataka include:
– Availability of large tracts of developable land at reasonable prices
– Developed infrastructural facilities such as roads, water, electricity, gas, etc.
– uninterrupted power supply at competitive rates
– world-class industrial parks and estates developed by KIADB
In addition, KIADB offers a number of fiscal and non-fiscal incentives to encourage investments in Karnataka. These include:
– Capital investment subsidy
– Employment generation subsidy
– Interest subsidy on loans taken for setting up industries
– Electricity duty exemption
– VAT/CST reimbursement
Industrial Parks Developed by KIADB
KIADB has so far developed 173 Industrial Areas in 30 districts of the State. In the year 2019-20, KIADB developed 17 industrial parks across Karnataka with an aim to promote industrial development and generate employment. Apart then these KIADB has developed sector specific industrial areas across Karnataka.
– KIADB has developed 5 SEZ in Karnataka.
- 1- Textile Sez, Hassan
- 2- Pharmaceutical SEZ, Hassan,
- 3- IT/ITES SEZ, Mangalore, Dakshina Kannada District
- 4- Aerospace related SEZ, Devanahalli, Bengaluru Rural
- 5- IT/ ITES SEZ, Gamanagatti, Dharwad
-These parks are developed with state-of-the-art infrastructure and facilities to attract investment and promote growth.
-The parks are developed in strategic locations across the state, keeping in mind the connectivity and accessibility to major cities and towns.
-Each park is equipped with basic amenities like water, electricity, road connectivity, security, etc. to make it conducive for industries to set up their operations.
-KIADB is committed to providing quality infrastructure and services to industries so as to encourage investments and spur economic growth in Karnataka.
How to Apply for KIADB Approval
The Karnataka Industrial Areas Development Board (KIADB) is a state government organization that promotes industrial development in the state of Karnataka, India.
To apply for KIADB approval, interested parties must first submit a completed application form along with the required documents to the Board. The application form can be obtained from the KIADB website or from any of the regional offices.
Once the application is received, it will be reviewed by the Board and if found complete, an inspection of the proposed site will be scheduled. After the inspection is conducted, the Board will take a decision on whether to approve or reject the application. If approved, KIADB will issue an industrial license to the applicant.
Conclusion
The Karnataka Industrial Areas Development Board (KIADB) is a government organization that works to promote industrial development in the state of Karnataka, India. The KIADB has been instrumental in developing many industrial areas in Karnataka and has helped to create thousands of jobs in the state. If you are looking to invest in or develop an industrial property in Karnataka, the KIADB can provide you with assistance and guidance.
