Karnataka Deputy Chief Minister D K Shivakumar
Bengaluru: Karnataka Deputy Chief Minister DK Shivakumar recently alleged that Prime Minister Narendra Modi refused a proposal made by the Karnataka government to grant a zone like GIFT (Gujarat International Finance Tec) City in the state.
While speaking at the inauguration of the Knowledge, Wellbeing, and Innovation (KWIN) City in Vidhana Soudha on Thursday, DK Shivakumar stated that CM Siddaramaiah and he had appealed to the PM to a grant a GIFT City for Karnataka during their previous visit to Delhi. “He refused, saying that it will not be allowed, and that the existing GIFT City will remain the only financial hub,” the Deputy CM was quoted as saying by Deccan Herald.
GIFT City was established in April 2015 in Gandhinagar. Spread over 886 acres, it hosts global financial institutions, special economic zones and gives 100 percent tax exemption for 10 consecutive years.
DK Shivakumar mentioned that the KWIN City will not be a concrete jungle as it is built with a purpose. He highlighted that it is a sustainable city aimed to enhance the quality of life for its residents.
“Let’s all work together, and create a more vibrant Karnataka, and India will grow stronger, with Karnataka being the base. To make this happen, we have to take KWIN City to level in terms of development,” said Shivakumar, who is also the Bengaluru Development Minister.
Karnataka’s ambitious KWIN City is expected to come between Dobbaspete and Doddaballapura. The key districts of KWIN City are Knowledge, Health, Innovation, and Research. Spread across 5800 acres, it is expected to generate opportunities across sectors like healthcare, biotechnology, Artificial Intelligence, and advanced manufacturing.
KWIN City is designed to accommodate 500,000 residents and would harness half of its water requirements through an advanced rainwater harvesting system, with an additional 20% supplied by borewells. It will also feature a solar farm spanning 465 acres, capable of generating 0.69 million MWh to meet its entire energy requirements.
