Karnataka Chief Minister Siddaramaiah has proposed to develop the Bengaluru–Mumbai Economic Corridor through three industrial nodes spread over 10,000 acres in the next five years. He announced this in his 10th budget and third after becoming the Chief Minister.
To continue the development along NH4 the govt. is planning to create two or three major hubs along the Mumbai-Bangalore economic corridor, he added.
The Mumbai-Bangalore economic corridor is spread across Karnataka and Maharashtra and passes through major cities such as Chitradurga, Hubballi-Dharwad, Belagavi, Solapur, Sangli, Pune and Mumbai.
Earlier during the India-United Kingdom summit in 2013 UK had shown interest in cooperating with India for the development of the Bengaluru-Mumbai Economic Corridor (BMEC). It was then agreed, to examine and evolve the modalities and content of a feasibility study for this project through a mutual discussions and to work out a roadmap for a possible partnership in this area.
As part of the infrastructure development, the state government will be setting up another such corridor and i.e. the Chennai-Bangalore-Chitradurga industrial corridor with financial aid from the central government and the Japan International Cooperation Agency.
Karnataka has been ranked fourth among states in attracting foreign direct investment in the country.