From Our Special Correspondent
Daijiworld Media Network
Bengaluru, Jul 23: The Federation of Karnataka Chambers of Commerce and Industry (FKCCI) expressed his happiness on the release of New Industrial Policy, 2020-25 made by Jagadish Shettar minister of large and medium scale industries in Bengaluru on Thursday, FKCCI president C R Janardhana extended his warm appreciation on behalf of industry and trade fraternity, for the industrial friendly 'New Industrial Policy 2020-25' to attract investments.
FKCCI would like to inform, that the factories and industrial establishments are currently in lockdown mode and it may take time in seeing normalcy. Under such circumstances, the release of the New Industrial Policy has brought much hope among them.
"This policy is aimed to bring around Rs 5 lac crore investment and to generate 20 lac new jobs. At present Karnataka is placed the fourth position on Merchandise Export and the objective of this policy is to bring the position to second or third place and also to bring the industries to tier-2 and tier-3 cities,’’ he said.
The policy has an object to develop Bidar Mysore Industrial Corridor on a similar line of Chennai Bengaluru Corridor and Bengaluru Industrial Corridor that the Central government is implementing. The Policy also indicated that 30% of the land that is developed by KIADB is reserved for MSME through KSSIDC.
Recently the Government of Karnataka has taken a bold and revolutionary step by bringing reforms in Karnataka Land reforms Act and made easy for an industrialist to purchase agricultural land for industrial development activity by amending the section 79A, 79B and 80 of KLR Act.
Under the Ease of Doing Business (EODB), the state government has amended the Karnataka Industrial Facilitation Act and according to this to start any industry immediate approval of various license is abolished and can be obtained within 3 years before it starts its operation.
The government is also working in bringing reforms to the Labour Act to bring the economy on track.
"On behalf of FKCCI and entire industry fraternity I once again thank Government of Karnataka for their proactive approach to boost the economy by releasing the New Industrial Policy 2020-25 and bringing remarkable reforms by amending various Acts,’’ he added.