Investor-friendly industrial policy coming
It’s geared towards higher growth, inclusive development
An industrial policy that will be investor-friendly, repose confidence in entrepreneurs and strive towards a wider geographical spread of development is being finalized by the State government, Chief Minister Siddaramaiah said here on Friday.
Underscoring the significance of taking trade and industry along, he said the policy, for five years, would be the key document in the government’s quest for higher growth and inclusive development. Apart from holding consultations with trade and industry, the government also studied similar policies of other States.
Mr. Siddaramaiah, addressing a programme organised by the Federation of Karnataka Chambers of Commerce and Industry (FKCCI) as part of its 97th annual general meeting, said his government would soon renew mining licences. Pointing out that he was as much for industry as he was for agriculture, the Chief Minister said industrial growth was essential for government from a revenue perspective, and towards pursuing its agenda of social-economic growth.
Apart from its contribution to the exchequer, the huge potential for job creation made industrial development important, he said. Karnataka, he said, moved to the second spot, replacing Gujarat, among States that attracted most investments. The aim was to make Karnataka globally one of the best investment destinations. On the law and order situation in the State, he said it was better than any of the other States.
Need to spread out
Industrial development, the Chief Minister said, was centred around Bangalore, Hubli, Belgaum and Mangalore, and this has to be changed by industries spreading out investments to locations such as Tumkur, Chitradurga and Bellary.
To queries, he said the State government would consider the demand for abolition of trade licences and restructuring of property tax applicable to industry. On problems faced by traders of toor dal owing to imports, he said this was an issue he had taken up with the Centre during his recent visit to Delhi.
Earlier in the day, Leader of the Congress in the Lok Sabha M. Mallikarjun Kharge said several welfare and development programmes of the previous UPA government at the Centre largely went unnoticed.
A few rail projects that could not be inaugurated since the model code of conduct for elections came into force, were now to be launched.
Stating that Prime Minister Narendra Modi was scheduled to inaugurate one such project, Udhampur-Katra link, he said: “We deliver, he will do the namkaran.” FKCCI president R. Shivakumar and president-elect S. Sampath Raman said the chamber would work with the State government for prosperity of the people.