Industry has hailed the Karnataka Government’s efforts in bringing in key amendments to realise Global Investment Meet proposals.
The meet was held in June this year. At the end of six months, 14 projects are up and running with a total investment of Rs 4,351 crore and employment created is 5,000.
Further 31 projects with a total investment of around Rs 10,000 crore are under various stages of construction. Apart from this another 200 projects are under various stages of implementation as well.
In the MSME sector, about 776 projects with an investment of Rs 10,000 crore have been implemented and have created employment for 6,000 people.
“The State Industries and Commerce Department, which is the nodal co-ordinating agency, is constantly pursuing the investment committed during the GIM-12,” said M. Maheshwar Rao, Commissioner, Karnataka Industries and Commerce Department.
“In the last six months, we have held several interactive meets to facilitate the investments. The progress was reviewed on a weekly basis under the chairmanship of chief secretary. We also have nominated nodal officers in all departments to speed up the process and have been offering a helping hand to investors,” he added.
The industry is happy on the efforts made by the State Government in short span of time.
S. Chandrasekhar, Managing Director, Bhoruka Power, narrating his company’s experience in getting a wind energy project cleared in Belgaum recently, said mechanism installed by the government under which review is carried out by chief secretary is good and the kind of support and help we got at district level was equally good.”
“Progress made in six months is satisfactory. But there are bottlenecks and we see the government is constantly making efforts to iron them out. It is only in the land based projects delays are occurring,” he added.
“Despite poor investment climate in the country the state government by bringing in key amendments and relaxing the rules has realised quite a few investment,” said H.V. Harish, Vice-President, BCIC.
From now on, the government should give more focus to investments which offer huge employment across the state, he suggested.
Industries and Commerce Department Principal Secretary M N Vidyashankar said the department has launched e-udyami a portal to provide information and status of project on real-time to investors.
Projects on stream
Prominent projects realized are: Chettinad Cement Corporation setting up a cement plant at Gulbarga with an investment of Rs 1,655 crore. Doddannavar Global Energy wind power plant of 83 mw in Belgaum with an investment of Rs 500 crore. Apotex Research has invested Rs 348 crore to set up facility for pharmaceutical dosage forms in Bangalore.
Jindal Aluminium Limited is building a facility with an investment of Rs 370 crore to manufacture aluminium sheets and foil in Bangalore rural district.
Musashi Auto Parts India has invested rs 400 crore for an automobile facility to manufacture transmission, steering and suspension parts also in Bangalore rural.
Projects under implementation are: Bosch is setting up facility for PF fuel, injection pumps plant with an investment of Rs 1,500 crore in Ramanagara district.
Honda Motor Cycle and Scooter India has committed Rs 1350 crore to build facility to manufacture scooters and motorcycles at Kolar.
Mahindra Aerospace is coming up at Kolar to make aerospace components, aero structures and assemblies with an investment of Rs 284 crore.
Wipro Limited is also building a facility to make aerospace actuators and parts with an investment of rs 52 crore at Bangalore rural district.
JSW Projects has committed Rs 2400 crore investment at Bellary to set up 1.20 mtpa DRI plant, 3.42 mtpa coke dry quenching plant and 70 mw power plant.