The Hindu Business Line : `Periodic review of industrial policy needed'

Initiatives
Udyog Mitra should be strengthened to eliminate delays in according clearances for investment approvals.
FKCCI would take Italian trade promotion agency's help in arranging interactions among IT SMEs from the State and its EU counterparts.

Bangalore , Oct.8

The Federation of Karnataka Chambers of Commerce and Industry (FKCCI) has suggested setting up of a monitoring committee under the chairmanship of the Chief Minister to review the timely implementation of the new industrial policy.

The representations from Government departments and industry associations like FKCCI, the Karnataka Small Scale Industries Association and the Confederation of Indian Industries should be constituted by the Government with specific terms of reference.

Investment growth

Mr R.C. Purohit, President of FKCCI, told newspersons that a periodic review of the implementation of the industrial policy would smoothen the process of investment growth in the State.

Pointing out that the single window agency, Udyog Mitra, should also be strengthened to eliminate delays in according clearances for investment approvals, Mr Purohit regretted that in Karnataka it took nine to 12 months to implement projects after approvals, as against two months in Gujarat and Madhya Pradesh.

Mr Purohit, who is also the Managing Director of Bhoruka Steel and Services Ltd, said the Government should streamline the entire procedure with a stipulated timeframe and grant comprehensive approvals at the single window agency.

Asia Invest

Through its association with Centro Estero Camere Commercio Pienmonstesi (CECCO), an Italian trade promotion agency, FKCII expects scope for IT exports under the Asia Invest programme. Asia Invest is a European Union initiative that supports Euro-Asian Business Cooperation.

FKCCI would take CECCO's help in arranging interactions among IT SMEs from the State and its EU counterparts in Turin, Madrid and Lyon for strengthening business.

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