The country's first Integrated Machine Tool Industry Park is being set up by the Govt. of Karnataka in Tumkur district.
The project at Vasantha Narsapur, about 20 kms from Tumkur along NH 4, will come up on 500 acres with a central government grant of Rs 125 crore. The park will be a cluster of machine tool builders, makers of accessories, components and sub-systems, among others, and will help small and medium scale enterprises to expand their manufacturing capacities.
Once functional, it is expected to boost domestic turnover of machine tools and savings in imports and forex.