Karnataka CM for sub-groups to speed up growth

Karnataka Chief Minister Siddaramaiah on Saturday advised the Vision Group for Industries to set up five sub-groups to speed up the process of growth and development of the state.

"My aim is to make our state number one in industry and business in the coming years from being in the leading position," Siddaramaiah told captains of industries at the first meeting of the Vision Group for industrial development in the state here.

Two sub-groups will be set up for infrastructure development of the state and Bengaluru, one sub-group each for the manufacturing sector, including automobiles and aerospace, textiles and garments and electronics and e-commerce.

Reiterating his government's commitment to promote industry and service sectors in view of their significant contribution to job creation and wealth in the state, the Chief Minister said the overall objective was to empower the citizens and improve their quality of life.

"I always believe inclusive approach in development and governance. As a strategy to best utilise the collective wisdom, we have constituted a Vision Group for the speedy development of the industry and service sectors, develop infrastructure, attract investments to the state and create thousands of jobs," Siddaramaiah said on the occasion.

Admitting that Bengaluru was facing major infrastructure problems, the Chief Minister said the challenge was to bridge the gap between the growth of the industry and the quality of infrastructure in the city.

"We are not keeping quiet but doing our best to add sheen to "Brand Bengaluru" by achieving convergence of the grants given to the city through different institutions," Siddaramaiah asserted.

Referring to his government's efforts to improve the city's infrastructure and create more civic amenities to its 10-million denizens, the Chief Minister said he had allocated Rs 5,000 crore in the state budget for this fiscal (2016-17) for upgrading the city's infrastructure in addition to Rs 5,606 crore granted since 2013-14 when the ruling Congress returned to power after a decade.

"Bengaluru has emerged as the hotspot both for business and to live. As per the Global Start-Up Eco-System Ranking Report 2015, Bengaluru has the second highest growth rate for exit volume and venture capital investment among the world's top 20 cities," Siddaramaiah pointed out.

Bengaluru has also emerged as the world's fifth most preferred destination for multinationals looking to set up innovative centres and tap technology talent.

"As infrastructure is the backbone for industrial development, our government is giving top priority to infrastructure facilities across the state and diverting investments to tier-II and III cities to develop them as major cities," the Chief Minister added.

He directed the Vision Group consisting of industry captains, trade associations and policymakers to make practicable recommendations periodically for time-bound implementation.

"I suggest the Vision Group brings out a comprehensive vision document to serve as a guide for development industry and related sectors with long-term strategies, enabling the government to plan and implement over the next 10 years," Siddaramaiah added.

State Industries Minister R.V. Deshpande, Chief Secretary Arvind Jadhav and other officials were present at the meeting, where Biocon chairperson Kiran Mazumdar-Shaw and other captains of the industry participated.

--IANS

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