Karnataka to promote manufacturing industry, establish NIMZ | SupportBiz

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Karnataka to promote manufacturing industry, establish NIMZ

 
Karnataka Chief Minister Siddaramaiah said on September 18 that, as per the national manufacturing policy, the State has appointed a special task force to formulate measures to enhance the manufacturing sector’s share in the gross state domestic product, reports IANS.

The national manufacturing policy aims to increase the manufacturing industry’s share in the GDP to 25 percent and generate 100 million jobs over the next decade.

The Chief Minister was talking at the foundation stone laying ceremony of German automotive major Bosch's new plant in Bidadi.

"As the manufacturing sector is key to growth, competitiveness and the state's economic development, we are setting up the National Investment and Manufacturing Zones (NIMZ) across the state to enable investors set up industries across verticals," Siddaramaiah said.

Under national manufacturing policy, Karnataka’s first NIMZ is going to come up in Dobbespet, spread over in 12,500 acres of land, in Tumkur district. The Chief Minister disclosed the State’s plan to establish two more NIMZs in Kolar and Gulbarga in Northern Karnataka to increase the sectoral share by 12-14 per cent of the manufacturing industry in the state GDP during the 12th plan period. The State Government has already applied to the Centre to get necessary approval.

Karnataka is rich in both natural resources and efficient workforce, which can play a defining role to attract investments in the NIMZ to help grow industry clusters, especially in manufacturing and generate employment. The State Government is also keen to fight skill shortages and for this, has set up skill development and vocational training centres in Bangalore.

"Karnataka has built a manufacturing base with large state-run enterprises like Hindustan Aeronautics Ltd, Bharat Electronics, Bharat Earth Movers Ltd, Hindustan Machine Tools and many more in the private sector across verticals, including automobile, aerospace, textiles and machinery and the micro, small and medium enterprises (MSME)," Siddaramaiah said.