Bengaluru, Oct 28 (IANS): In an effort to avoid industrial projects getting delayed, the Government of Karnataka will soon unveil a policy to help manufacturing industries obtain the sale deed of the land allotted to them in 10 to 15 days after they start setting up their units.

Large and Medium Industries Minister Murugesh Nirani made the announcement on Thursday here.

Addressing the Round Table Meet on 'Manufacturing in Karnataka' organised by the Indo-American Chamber of Commerce at a private hotel here, Minister Nirani said rules would be framed to ensure that the land price didn't exceed more than 15 to 20 per cent of the actual value.

"We will unveil a policy to help manufacturing industries get the sale deed of land allotted to them within 10 to 15 days after they start functioning. This will avoid delay in starting industrial projects and we are coming up with ground-breaking measures to fast track the process," Nirani said.

Minister Nirani said the government's aim was to make Karnataka a global manufacturing hub. "Karnataka has an outstanding industrial ecosystem and is home to key manufacturing industries and a key player in the supply chain of many global companies. I thank the Indo-American Chamber of Commerce for creating a wonderful platform to discuss and explore opportunities to make Karnataka a global manufacturing hub," the minister stated.

Mentioning about the Global Investors Meet next year, the minister said that the state is targeting Rs 10 lakh crore investments. "Karnataka has garnered Rs 28,600 crore worth of investments in the last six months in the form of MoUs and investment proposals. We have accorded industry status to the logistics and warehousing sectors to ensure ease of doing business," the minister added.