The Bangalore Chamber of Industry and Commerce (BCIC) has urged the state government to formulate a new policy to cater to the requirements of industry and adhere to the changing economic scenario. In its memorandum submitted to the Department of Industries and Commerce, GoK, BCIC has urged the government to formulate a cohesive industrial policy for the overall economic development, to transform Karnataka into one of India's significantly-industrialised states with a high-growth trajectory.
H V Harish, President of BCIC, said, "Karnataka is one of India's significantly-industrialised states with a high growth rate, good industrial climate and several other positives. However, of late, the state has been unable to generate enough jobs for its growing population - its infrastructure crumbling and not registering a uniform growth rate." In addition, Bangalore, considered the 'Silicon Valley' in India is rapidly degenerating with roads caving-in; garbage increasing manifolds, facing severe water scarcity and often putting up with power breakdowns and the Metro project getting unduly delayed, causing severe hardships and bottlenecks for movement of people in and around the city.
BCIC has also urged the state government to dovetail its policy initiatives that make smart use of centrally-driven interventions which is the key for the economic development of the state. It has also urged the government to promote private sector investment in skill development, through a market-driven approach. Chandramouli, Senior vice-president, BCIC, said, "The New Industrial Policy must focus on rationalisation of industrial growth in the state, viz., infrastructure, tax incentive and labour migration policy which should facilitate new investments to move industries out of Bangalore to tier-I and tier-II cities in the state."
In order to restore its pride and growth, the BCIC has urged the government to "formulate the new industrial policy which is pragmatic and result-oriented and puts the state back on a growth trajectory and simultaneously promote inclusive economic growth pan-Karnataka." The industry association urged that the proposed new industrial policy should accord it utmost priority to infrastructure development, skill development, urban renewal, thrust on SME revitalisation, focus on capacity building and on creating world class institutions, and create a cluster of ancillaries around large OEMs to improve supply-chain growth.
