Bangalore, September 18, 2014.
Bangalore Chamber of Industry and Commerce (BCIC) today expressed serious concern over losing one of India’s leading Automobile companies setting up shop away from Karnataka. Two-wheeler auto giant Hero MotoCorp which was keen to establish its first manufacturing plant in South India in Hubli-Dharwad region has now signed a MoU with the Andhra Pradesh Government to set up the plant.
Mr. Anuj Sharma , Senior Vice President, BCIC said: “Having given the necessary thrust in the recent Industrial Policy announced by the State Government , this news has come as a great shock and we would urge the State Government to take cognizance of the same and undertake suitable measures to attract big ticket investments like Hero Motors and provide the necessary environment to ensure that in future State machinery take decision without undue delay and do not let go a golden investment opportunity like this.”
Mr. H V Harish, Immediate Past President-BCIC and Member of the State Government’s Task Force on Manufacturing said : “The decision of the Hero MotoCorp to set up a plant in Chittoor in Andhra Pradesh comes has a major blow to Karnataka’s industry-friendly image which it had built over the years. The Chamber has been cautioning the State Government over the expected large scale migration to neighbouring States. This project would have resulted in significant industrialization and employment generation in the Northern Karnataka. We sincerely urge the Hon’ble Chief Minister Mr. Siddaramaiah to take an aggressive approach to get them back to invest in Karnataka as the downstream benefits of large projects are critical for the industrial development of the State.”
Meanwhile, BCIC once again urges the State Government to be pro-active in decision making and the Chamber is willing to support the Government on any aspect.
CCI Newswire.
