Bengaluru, 14 Dec

Karnataka Minister MB Patil announced on Saturday that he will advance the initiative to develop ‘SWIFT City’ in Sarjapura here.

A press statement from Patil's office revealed that SWIFT City would become Karnataka’s third major planned industrial hub after Electronic City and ITPL.

According to him, the project would focus on startups, workspaces, innovation, finance, and technology. "Despite the presence of thousands of companies in Bengaluru, many stakeholders have expressed dissatisfaction with the lack of well-planned workspaces. To address this, we will provide 150-ft-wide connecting roads in Sarjapura and ensure world-class facilities, including residential clusters and schools," the State Large and Medium Industries Minister said.

He added over 1,000 acres of land in the Sarjapura Industrial Area have been reserved for the project.

Sarjapura has been identified for its strategic location near National Highways 44 and 48, as well as its proximity to Bengaluru's thriving IT hub, Patil said.

The Minister further highlighted that small and medium-sized startups would benefit from spaces ranging from 5,000 to 20,000 sq ft, available through lease, sale, or investment-sharing models.

He also outlined plans to transform Karnataka into a ‘Silicon State’. "While Bengaluru is already recognised as the Silicon City, the objective is to extend this recognition across the entire State," Patil stated.

He added that the government plans to develop five Mini KWIN Cities, including ones in Vijayapura and Hubballi-Dharwad, in collaboration with the IT/BT department, furthering Karnataka’s ‘Silicon State’ vision.

"Innovative concepts are essential to attract investors. If we don’t take proactive steps, neighbouring states could gain an edge in securing investment opportunities," Patil said.