Bangalore, 18th October, 2014 : Bangalore Chamber of Industry and Commerce (BCIC) today welcomed the State Government’s New Industrial Policy for 2014-19 which gives special thrust to enhance contribution of the Manufacturing Sector to the State GDP to 20 per cent by 2019 and other incentives particularly to MSME Sectors which should augur well for the inclusive economic growth of the State.
Mr. A N Chandramouli, President, BCIC said: “We welcome the new policy which has several positive features viz., focus on job creation, growth of manufacturing sector share in GDP etc. However, he expressed that the incentives offered need to be benchmarked against the other States to ensure that the State is not at a loss. It is important that for large projects the State should take an aggressive approach to get them to invest in Karnataka as the downstream benefits of large projects particularly in the auto sector are critical”. We are happy that most of the recommendations that the Chamber has recommended and submitted to the Government has finds a place in the new Policy Document, Mr. Chandramouli further added. He particularly commended the State Government for creation of industrial zones across the State particularly in the backward areas which should facilitate increase in industrial activity pan across the State, Mr. Chandramouli further stated.
Mr. Anuj Sharma , Senior Vice President, BCIC said that “The new industrial policy especially the Government’s thrust on attracting investment worth Rs. 5 lakh crore and creation of 15 lakh jobs in the next 5 years is a welcome measure. He also commended the proposal to raise the subsidy for MSMEs from 50 to 100 per cent.”
Mr. Anuj Sharma further appreciated the amendments made to the Karnataka Land Reforms Act to reduce the time taken in obtaining approval for purchase of land under Section 109 and for converting agricultural land for industrial purposes and also requested that labour reforms should be expedited to increase the investment flow in the state.
Mr. Thyagu Valliappa , Vice President, BCIC hoped that “The policy pronouncements should be implemented with letter and spirit with less government intervention so that the desired goal and objectives are realized. He particularly welcomed the creation of two Special industrial zones exclusively for women entrepreneurs in Kanakapura and Hubli-Dharwad.
He also commended the announcement for reserving maximum sops for investors who are willing to move out of Bangalore and investing in Industrially backward areas. He opined that this would undoubtedly ease the congestion in the City of Bangalore to a large extent and further urged the State Government to come out with a “Relocation Policy’ with clear cut guidelines for the industry.
The Chamber, overall welcomes the policy which has given a clear thrust to MSME and particularly commended the State Government for focusing towards the development of Hyderabad-Karnataka region by declaring it as Special Zone which was hitherto neglected.
The Chamber feels that by and large it is a forward looking policy which is aiming towards the development of MSME sector, attract investments, job creation as well as promotion of micro and small units which should propel the State’s GDP growth and sincerely hope that the policy should be implemented in letter and spirit to see the growth and development of the State in the days to come.
CCI Newswire.
