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Company to take initiative in setting up SEZ for auto parts

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MAKING A POINT: Sajjan Jindal, vice-chairman and managing director of JWS Steels, addressing entrepreneurs and students during an interactive programme in Hubli on Thursday.
MAKING A POINT: Sajjan Jindal, vice-chairman and managing director of JWS Steels, addressing entrepreneurs and students during an interactive programme in Hubli on Thursday.

Staff Correspondent

JWS Steels will soon start a distribution centre in Hubli: Jindal

  • Firm to hold consultations, seminars on industrial growth of the region
  • Call for iron ore exports to be stopped in a phased manner

    HUBLI: Vice-Chairman and managing director of JWS Steels Sajjan Jindal has said that his company would take up the issue of setting up a Special Economic Zone (SEZ) for auto components in Hubli and act as a catalyst in getting the proposal to materialise.

    Mr. Jindal was participating in an interactive meeting with entrepreneurs and students of management institutions here on Thursday.

    He said he would ask his officers to hold interactions and seminars on the industrial development of the region. They would collect suggestions and proposals from members of chambers of commerce and other stakeholders.

    Distribution centre

    As a first step, the company would set up a distribution/service centre in Hubli. It would assess the potential of the city and plan its next move involving members of chambers of commerce, he added.

    Small cities

    It was in tier-2 and tier-3 cities that the "real" India existed and these cities would take the country into the global market and be instrumental in making India the third largest economy by 2050.

    The weak point of the country was its high population but that could be converted into an asset with education. Large numbers of educated youth would contribute to the development of the country, he said.

    Apart from being an IT hub, Karnataka had the potential to become a hub for manufacturing, particularly of auto components. Mr. Jindal called on the youth to grab opportunities in the manufacturing industry.

    He said he was impressed with the educational institutions in the city and the availability of talent.

    He promised to conduct campus interviews for posts in his company in Hubli in the days to come.

    `Biggest crime'

    Mr. Jindal said allowing iron ore to be exported without value addition was the biggest crime in a country like India. He said iron ore reserves in Karnataka were controlled by fifteen families and the State had a share of 40 per cent in the total iron ore exports in the country.

    He compared the export of iron ore to that of British exporting cotton from India to England and then importing cloth from there.

    "Iron ore is being exported to China and China is selling steel to us," he said. Iron ore export should be stopped in a phased manner, he said.

    Acquisitions

    On plans of the company for acquisition, he said the company was looking at options but was not very keen at the moment.

    If the acquisition was going to benefit the country or contribute to development of infrastructure, then the company would go ahead with it, he said.

    Industrialists and entrepreneurs from the region participated in the interaction.

    All-woman BPO unit

    Radhika Gokhale, president of the Women's Wing of Karnataka Chamber of Commerce and Industry, submitted a memorandum to Mr. Jindal requesting him to set up a BPO unit run by women in Hubli on the lines of the one in Bellary.

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