The manufacturer of Taiwanese contracts Foxconn, the main Apple supplier, is expected to receive 6,970 breaks of rupes as part of the Karnataka special incentive system for the electronic design and manufacturing sector (ESDM) from 2020 to 2025. The chief minister Siddaramaiah made this announcement during the budgetary presentation on March 7.
Foxconn has created a mobile telephony manufacturing plant in the Devanahalli industrial zone with an initial investment of RS 21 911 crores. The company will benefit from an incentive of 6,970 beliefs under the ESDM policy, as the Minister of Chief underlines in his budgetary discourse.
“Foxconn is setting up a mobile phone manufacturing plant in the Devanahalli industrial zone with an investment by RS 21 911 crosses and will be granted by ESDM policy,” said Siddaramaiah.
The ESDM policy offers various incentives, such as a subsidy on capital investments of 25% on land, a subsidy of 20% on factories and machines, and a full reimbursement of stamp duties, registration fees and land conversion costs provided by the State.
Being the first electronics company to receive such a substantial incentive, the presence of Foxconn means the commitment of Karnataka to improve its presence in high -end electronic manufacturing.
Decriminalization and digitization invoices of the Karnataka employer’s compliance should be presented by the government. The chief minister stressed the importance of Karnataka sectoral policies in IT, tourism and biotechnology to stimulate economic growth and create job opportunities.
“They should attract RS 1 Lakh to invest in investments, with Rs 13,500 crosses committed in subsidies. Karnataka obtained $ 4.4 billion in foreign investment in December 2024-25, ranking third in the country, while exports increased by 11.17% to 88.85 billion dollars. In Invest Karnataka 2025, the state has signed Mus worth 10.27 Lakh Croore, which should create more than six jobs of jobs, “said Siddaramaiah.
Infra pushes in Bangalore
CM Siddaramaiah has also announced a series of measures for Bengaluru in response to increasing public criticisms concerning bad infrastructure in the city, just in front of the elections of Bruhat Bengaluru Mahanagara Palike (BBMP).
In a statement, the chief minister underlined the government’s commitment to improve the basic infrastructure in Bengaluru, which is vital for the state economy. He revealed plans aimed at increasing the annual subsidy of RS 3,000 crosses to Rs 7,000 crore by 2025-2026.
To effectively manage these funds and implement crucial infrastructure projects, a new special vehicle (SPV) will be established. This decision is intended to distance the responsibility of the main BBMP development projects, which has been examined for the deterioration of the city’s infrastructure, was examined.
The government’s budget also includes proposals to extend the metro line at Kempegowda International Airport in Devanahalli, with introductory plans of 98.6 km of new metro roads over the next two years.
Siddaramaiah announced that progress had been made on the long -awaited Ring Road (PRR) project, with the acquisition of land currently underway by specialized teams. An RS Budget of 27.00 Core was allocated to build a 73 km PRR, now called “Bengaluru Business Corridor”, with the support of Hudco Bank.
In addition, it was mentioned that the majestic bus stand in Bengaluru will undergo a redevelopment via a public-private partnership model (PPP) to transform it into a modern transport center with a sales complex.
