Karnataka will come up with new Industrial Policy: CM Siddaramaiah

Karnataka Chief Minister Siddaramaiah asserted that his government will discuss with industrialists and exporters to bring out a new and progressive industrial policy in the state.

    CM Siddaramaiah


Siddaramaiah, the chief minister of Karnataka, declared on Saturday that his administration would draft a fresh, forward-thinking Industrial Policy for the state. He added stated that exporters and industrialists will talk about this. At a ceremony where the Department of Commerce and Industry and the Visvesvaraya Trade Promotion Center (VTPC) presented the "State Export Excellence Awards," CM Siddaramaiah made the news.

"In the past, the business community praised the industrial policy that our government had put in place. It was regarded as the most forward-thinking industrial policy. To develop a new and progressive industrial policy, our government would soon hold discussions with exporters and industrialists, according to Siddaramaiah.


High priority to the promotion of industries


He claimed that the promotion of industries is given top priority by his government and that only rapid industrialization can create jobs."Industrial development fosters job creation and expansion of the economy.GDP increases as a result of economic growth, which also leads to improved law and order across the nation.These elements result in investments, he said.

Bengaluru, according to Deputy Chief Minister DK Shivakumar, is a center for knowledge, IT, culture, and education.The city features world-class educational institutions that are on par with the best in the world.We are also the top choice for investments, according to the survey.

We should all be proud of this, he continued.To prevent the state becoming Bengaluru-centric, the administration will promote industrialization in tier 2 and tier 3 cities. It is also dedicated to offering every assistance to investors, especially exporters, he assured.

Minister of Large and Medium Industries M. B. Patil noted that the state has the most business-friendly climate and that the government will work to have the best single window clearance in the nation. "Vision groups will be created in the following seven sectors to support industry growth. This government's social obligation is to support and promote MSMES. To help MSMEs, we would collaborate with Tata Technology, he declared.

Export Preparedness Index



Karnataka has been classified as the No. 1 State in the nation in two categories, namely the Policy Pillar and the Business EcoSystem Pillar, according to the Export Preparedness Index (EPI) ranking by NITI Aayog for Year 2022. The ranking of states by NITI Aayog was unveiled on July 17, 2023. Given the state's excellent infrastructure, strong connectivity, and open environment, he continued, "Karnataka has earned the designation of 'Achiever' in the 'Leads Ranking' of the NITI Aayog for the logistics industry in 2022.



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