FKCCI urges CM to drive SME growth in Karnataka | SupportBiz

Managing Growth

FKCCI urges CM to drive SME growth in Karnataka

In a strong pitch for the acceleration of SME growth in the state, Federation of Karnataka Chambers of Commerce and Industry (FKCCI) urged the Chief Minister to participate in the proposed India-Japan Global Partnership Summit (IJGPS) to invite industrialists from Japan to invest in the state.

A high power delegation of FKCCI led by R. Shivakumar, President, S. Sampathraman, Sr. Vice-President, Tallam R. Dwarakanath, Vice-President and Sudarshan T.N., Secretary General, met Chief Minister Siddaramaiah on Nov. 16, 2013 at his office and requested him to lead Karnataka's business delegation to the IJGPS 2013 in association with FKCCI to tap the opportunities for fresh investments in the State.

The federation thinks the IJGPS 2013, scheduled to be held at Noida in December 2013, will be an ideal platform to boost the industrial development of the State as the event will bring together many investors from Japan. Given the fact that there is a shift of focus in the world economy from the Chinese market, events like these would accelerate the Indian economy's chances of attracting more foreign investments. The delegation appraised CM about the participation of 19 other Indian states and that Karnataka's participation would boost the state's industrial development, particularly of the MSME and SME sectors.

The association also requested the CM to re-consider the federation's memorandum for the reduction of VAT as tax collection exceeds targets currently. CM assured the delegation that tax reductions will be considered during the 2014-15 financial year. FKCCI also demanded the CM to nominate the federation on the various boards of Government, which is the only possible way for the industry to voice its opinions at the administrative level, which the CM has assured to look into positively.