The Karnataka industrial policy for 2014-19 which aims to attract investment worth Rs five lakh crore was unveiled on 17 October, 2014.

The New Industrial Policy for 2014-19 is targeting an industrial growth rate of 12 per cent annually and seeks to enhance the contribution of the manufacturing sector to the state GDP from 16.87 per cent to 20 per cent.

The karnataka policy proposes to form at least five industrial areas every year over an area of 5,000 to 8,000 acre.

It provides for all energy projects including renewable energy projects to be treated as industry and will be eligible for all incentives as any other industry.

The policy proposes to associate with Union government in implementing the Chennai-Bangalore-Chitradurga Industrial Corridor (CBCIC) and Bangalore Mumbai Economic Corridor (BMEC) with the help of external assistance from Japan and the United Kingdom.

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