Mangalore – The Mangalore-based Canara Plastic Manufacturers’ and Traders’ Association (CPMTA) has said that the new Karnataka Industrial Policy will encourage manufacturing activities in the State.BA Nazeer, president of the association, said the new industrial policy would give a boost to MSME (micro, small and medium enterprises) in the State, improving productivity and creating more jobs.
The strategies proposed in the policy attempt to distribute the economic benefits across a wider section of society in an inclusive manner by encouraging women, SC/ST and other backward sections of society, he said.
The inclusion of Dakshina Kannada and Udupi districts in backward zone is a welcome move, he said. The inclusion will make the entrepreneurs of these two districts eligible for incentives and concessions such as investment promotion subsidy, entry tax exemptions and electricity tax exemptions among others, Nazeer said.
The new industrial policy encourages plastic waste recycling units with an additional investment promotion subsidy of 5 per cent for MSME sector.
He welcomed the government’s decision to support the establishment of plastic parks in Bangalore, Dharwad and other potential locations and for facilities such as design and prototyping centres, testing and tool room facilities. Business Line
