Focus on industrial growth, says BCIC

Focus on industrial growth, says BCIC

The Bangalore Chamber of Industry and Commerce (BCIC) on Wednesday called upon Karnataka Chief Minister Siddaramaiah, who is also Industries Minister, to focus more on fostering industrial growth where Karnataka has been a laggard to generate employment needed to support the growing population and youth.

BCIC congratulated Siddaramaiah for successfully completing one year in office. BCIC President H V Harish said, “We urge the state government to initiate fundamental structural reforms to encourage investment, promote infrastructure, speed up existing projects, make doing business easy and reduce unnecessary pressure from taxation authorities.” 

He expressed hope that several recommendations submitted by BCIC immediately after organising the first ever Karnataka Economic Summit last December would be included while formulating the new Industrial Policy of 2014-19.”

“We would appreciate it if Mr Siddaramaiah personally involves himself in issues related to governance, land approvals, power and water crisis, infrastructure development, to name a few, and once again make the state a premier investment destination,” Harish said.

BCIC Senior Vice-President A N Chandramouli said it is high time that the state government addresses burning issues relating to land allotment, lack of infrastructure in new industrial estates, poor road infrastructure in old industrial estates, strengthening of single window mechanism and decongesting Bangalore in order to sustain the growth momentum.

Based on the deliberations held at the Karnataka Economic Summit, the Chamber had come out with recommendations highlighting various policy initiatives in the areas of governance, urbanisation, infrastructure and social infrastructure, which if implemented in toto, could propel the state into high growth orbit and bring inclusive growth in all sectors of the economy.

BCIC commended the initiatives taken on the industrial side like setting up of a Manufacturing Task Force by the state government to boost the manufacturing sector.