Karnataka Chief Minister Siddaramaiah on Saturday introduced that his authorities will come up with a new and progressive Industrial Policy within the state. He additional asserted that this will be mentioned with industrialists and exporters. CM Siddaramaiah made the announcement at an occasion organised to current the ‘State Export Excellence Awards’ organised by the Department of Commerce and Industry and the Visvesvaraya Trade Promotion Centre (VTPC).
“In the past, the industrial policy implemented by our government was appreciated by the industry fraternity. It was known to be the most progressive industrial policy. Our government will shortly discuss with industrialists and the exporters to bring out a new and progressive industrial policy,” Siddaramaiah mentioned.
High precedence to the promotion of industries
Stating that his authorities offers excessive precedence to the promotion of industries, he mentioned era of employment is feasible solely with speedy industrialisation. “Industrial improvement promotes employment and financial improvement. Economic improvement subsequently improves the GDP and higher legislation and order within the nation. These components result in investments,” he defined.
Deputy Chief Minister D Okay Shivakumar mentioned Bengaluru is called a information, IT, cultural and academic hub. The metropolis has the best-in-class instructional establishments right here and are on the degree of competing with the world. “We are also the number 1 choice when it comes to investments. This is a matter of pride for all of us,” he mentioned. The authorities will encourage industrialisation in tier 2-3 cities of the state to verify every little thing doesn’t turn into Bengaluru centric, and it’s also dedicated to offering all help to buyers, together with exporters, he assured.
Noting that the federal government will attempt to have one of the best single window clearance within the nation, Minister of Large and Medium Industries M B Patil mentioned with the ‘Ease of Doing Business’, the state has probably the most industry-friendly surroundings. “Vision groups will be formed in selected seven sectors to promote the growth of industries. Supporting and encouraging MSMES is the social responsibility of this government. We will be working with Tata Technology to empower MSMEs,” he mentioned.
Export Preparedness Index
The Export Preparedness Index (EPI) rating by NITI Aayog for Year 2022 has ranked Karnataka because the No.1 State within the nation in two parameters specifically Policy Pillar and Business EcoSystem Pillar. NITI Aayog’s Ranking of States was introduced on July 17, 2023. “It is a matter of pride that Karnataka has secured the status of ‘Achiever’ in the ‘Leads Ranking’ of the NITI Aayog for the logistics sector in 2022 considering the good infrastructure, good connectivity network and transparent ecosystem,” he added.
(with inputs from PTI)
