SME Times is powered by   
Search News
Just in:   • No Monday Blues: Sensex up over 1,200 points  • Petrol prices rise Re 1.60 in one week post Aramco attack   • SBI to adopt RBI's repo rate as external benchmark  • Airtel-Bharti AXA Life tie up for insurance with prepaid plan  • No plans to revise fiscal deficit target, cut spending: FM 
Last updated: 27 Sep, 2014  

nimzs.thumb.jpg Nod for two more manufacturing zones in Karnataka

nimzs.jpg
   Top Stories
» Export key to become $5-tn economy: Niti official
» Corp tax cut to push investment flow to exports: FIEO
» Industry hails govt's Rs 1.45L cr stimulus
» Corp tax cut raises fiscal risks, warns Moody's
» Modi govt unrolls Rs 1.45 lakh cr tax bonanza
SME Times News Bureau | 24 Dec, 2013
The central government cleared Karnataka's proposals to set up two more National Investment & Manufacturing Zones (NIMZ) in the northern region of the state, union Commerce and Industry Minister Anand Sharma said Monday.

"We have approved two more NIMZs for Karnataka at Bidar and Gulbarga to attract investments and create jobs in the manufacturing sector," Sharma told reporters in Banglore  after reviewing projects with Chief Minister Siddaramaiah and senior officials.

Though the ministry cleared the first manufacturing zone at Tumkur, about 70km from Bangalore early this year, it is waiting for the state's proposal to set up the fourth NIMZ at Kolar, about 100 km from Bangalore.

As part of the new national manufacturing policy, the central government has directed the states across the country to set up NIMZ under the public-private partnership (PPP) to increase the share of the manufacturing sector to 25 percent of the GDP from 16 percent and generate about 100 million jobs over the next decade.

"The NIMZs are envisaged as integrated industrial townships with incentives, infrastructure, clean and energy efficient technology and skill development facilities for productive ecosystem spanning primary, secondary and tertiary sectors," Sharma said.

Each zone will need at least 5,000 acres of land for developing world class infrastructure and road and rail connectivity.

"The ministry has till date approved setting up of 14 NIMZs across the country, including eight in the Delhi-Mumbai industrial corridor," Sharma noted.

The state government's equity contribution will be in the form of land while the central government will provide the infrastructure.

"The upcoming Information Technology Investment Region (IITR) at Devanahalli near the Bangalore international airport will also be given the status of NIMZ to attract investments in the knowledge sector," Sharma said.

The minister reviewed the progress on the Bangalore-Mumbai and Bangalore-Chennai industrial corridors at the meeting with Siddaramaiah.

"We have accepted the state's proposal to extend the Bangalore-Chennai corridor up to Chitradurga, (230km away). The Japanese government, which is partnering with the state government in the project has also agreed for the extension," Sharma said.

Britain is the country partner for the Bangalore-Mumbai corridor, which spreads across 1,000km between the two states and has potential to attract USD 25-billion and generate 2.5 million jobs.

 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 23 Sep, 2019
  Daily Poll
Is the Union Budget 2019 MSME-friendly?
 Yes
 No
 Can't say
  Commented Stories
» Modi govt unrolls Rs 1.45 lakh cr tax bonanza(1)
» L&T secures Rs.3.44 billion project from Power Grid(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter