Karnataka is one amongst the industrially developed States in the Country. The State has all potential to stand out on the fore front and has been focusing on development of industries, trade and service sectors. The State Government understands that the challenges poised due to global economic recession have to be addressed to promote economic growth of the State. A stimulus to boost economic activities needs to be given to sustain the current pace of over all development. Further, the State is endowed with rich natural resources across the State and such resources need to be optimally utilized for the benefit of local people. This policy is framed with the broad guiding principles of creation of employment, development of backward regions and value addition to local resources.