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Chamber is gruntled with the new Industrial Policy 2020-25, Karnataka Government
Posted on: 17/Aug/2020 9:59:30 AM
The Chamber is gruntled with the new Industrial Policy 2020-25 announced by The Government of Karnataka. It is well balanced, sustainable, and promotes inclusive industrial development throughout the state. The policy sheds light on all areas viz. Manufacturing, manufacturing services, advanced manufacturing, smart manufacturing, research and development, and innovation. With effective monitoring and implementation of the New Industrial Policy 2020-25, Namma Karnataka will be propelled in its launch to become ‘The Factory of the Future’.
The New Policy encourages enterprises of all sizes, to be the engines of growth for sectors like electrical and electronics, information & communication technology, biotechnology, nanotechnology, pharmaceutical, aerospace, and nanomachinery industries. There is an underlying promise to explore more into the domains of new-age disruptive technologies such as artificial intelligence, IoT, automation, data analytics, machine learning, 3D printing and robotics, knowledge-based industries, etc.,
It takes its momentum further from the previous policy with regards to industrial growth, the contribution of the manufacturing sector to state and central GDP, attracting foreign investments, creating employment opportunities, and creating a single-window system, e-udhyami, for swift and hassle-free clearances.
In the light of the release of the New Industrial Policy, Mr. T. R Parasuraman, President-BCIC, said, “The Ministry of Commerce & Industry, Govt. Karnataka has come out with a visionary, forward-looking, and far-sighted Policy catering to all segments of business leading to an Atmanirbhar Bharat in the true sense. We believe that the turnover based incentive is a welcome move to attract investors from many sectors placing Karnataka on the global map in regards to advanced manufacturing, research and development, innovation, and creativity. I am sure that the theme of BCIC this year “Namma Karnataka a Gateway to future India” is in full alignment with the government initiatives. We assure the Chief Minister and the Industry minister that BCIC will work for hand in hand with the Government in the implementation of the policy both heart and in spirit.”
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