Mysuru region gets Rs 1.67K cr investment amid Covid crisis

Amid Covid-19 crisis there is some positive development in Mysuru region, as it has received a total investment of Rs 1,675.35 crore, generating around 3,000 jobs directly and around 5,000 jobs indirectly. Karnataka has received a total of Rs 30,626.5 crore despite Covid-19 crisis, since March.

The 53rd State High-Level Clearance Committee (SHLCC) has cleared investment of one company in Chamarajanagar district, while the 119th State Level Single Window Clearance Committee (SLSWCC) has cleared investment of three companies in Chamarajanagar district, six companies in Mysuru district, six companies in Mandya district and one company in Hassan.

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The 72nd Land Audit Committees (LAC) has cleared investment of two companies in Mysuru district and four companies in Hassan district. The 73rd LAC has cleared four companies in Mandya district and one company in Hassan district.

Interestingly, Chamarajanagar has received a single investment of Rs 270.95 crore by First Steps Babywear Private Limited, promising generation of 938 direct jobs.

The highest investment for a district in the region is Rs 680.06 crore in Hassan by Hindustan Petroleum Corporation Limited, even though the employment generation is a meagre 18.

Thus, even in district-wise tally, the investment in Hassan tops the list, with Rs 793.08 crore from six projects, followed by Chamarajanagar with Rs 477.05 crore from four projects, Mysuru with Rs 232.36 crore from eight projects and Mandya with Rs 172.86 crore from nine projects.

Principal Secretary for Commerce and Industries Gaurav Gupta said that the flow of funds for investment and employment generation, amid the Covid-19 crisis, is a positive development and an indication for more hope in future.

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“The projects, approved for investment since March, would fructify in one or two years. There is hope for more investment in the coming years. It is also a good sign that the investors are looking beyond Bengaluru and the border district of Chamarajanagar has attracted good investment,” he said. Gupta said, “Agro-processing projects and textile and garments related industries are showing interest in Mysuru region. More sectors would be encouraged to invest here.”

Revanna Gowda, Managing Director of Karnataka Udyog Mitra, said that the government is making all efforts to attract investors to Tier-II and Tier-III cities and has been successful to some extent.

“The Badanaguppe-Kellamballi Industrial Area, which was opened two years back in Chamarajanagar district, has all infrastructure and facilities to set up industries. The projects cleared by SHLCC and SLSWCC would be notified in the Gazette soon. Those cleared by LAC are in the
final stages and would soon be cleared by either SHLCC or SLSWCC, depending on the quantum of investment,” he said.