To make Bengaluru the electric vehicle capital of India, the State government will soon come out with an “Electric Vehicle and Energy Storage Policy” to reduce pollution and promote healthy environment.
The Major and Medium Industries Department is formulating the policy, perhaps the first of its kind in the country, in consultation with various stakeholders, including vehicle manufacturing industries.
Minister for Industries R.V. Deshpande, who spoke about the State’s achievements in the industrial sector during the last four years, said, “Electric vehicles are the future. Many developed countries have formulated a policy to promote electric vehicles.Currently, many customers refuse to buy electric vehicles citing high cost of battery “Electric vehicles are the future vehicles.The State government will soon bring out the Electric Vehicle and Energy Storage Policy to make Karnataka environment-friendly.”
Noting that Karnataka secured top position in the country in attracting investments in 2016-17, with an investment of ₹1,54,173 crore, he said another batch of investments worth ₹6,113.29 crore would be cleared in the first week of September.
TVS Motor Company Ltd. has proposed to invest ₹1,110 crore to expand its plant at Bytahalli, Kadakola, in Mysuru for generating 800 jobs, while Mangalore Refinery and Petrochemicals Ltd. (MRPL) has decided to invest ₹966 crore at Anagwadi Industrial Area, Harihara.
Other major companies that have decided to invest are: IKEA: ₹810 crore; SAP Labs India Pvt. Ltd.: ₹499 crore; Acebright India Pharma Ltd.: ₹492 crore; Desano Pharmaceuticals Pvt.Ltd.: ₹475 crore; Adani Cementation Ltd.: ₹410 crore; Molex India Pvt.Ltd.: ₹340 crore; Aditya Birla Solar Ltd: ₹325 crore; HNI Autotech Pvt.Ltd.: ₹242 crore; Prosperity Textile Processors Pvt.Ltd.: ₹196.79 crore; and Ather Energy Pvt.Ltd.: ₹47.5 crore.
The government has already cleared investments of ₹2,438 crore from Oracle India Pvt.Ltd. in IT/ITeS Special Economic Zone and Wipro Enterprises Pvt.Ltd.: ₹112 crore in Aerospace SEZ in Devanahalli taluk, Mr. Deshpande said.
The Minister said talks were on for establishment of Japanese Industrial Township at Vasanth Narasapura in Tumakuru on 500 acres. Consultation was on with JETRO to promote Japanese investment in the State, Mr. Deshpande said.
The State had received ₹3.34 lakh crore during the last four years and investors dropped only ₹16,000 crore investments. Unemployment rate in the State was less compared to the nation and other States, Mr. Deshpande said.
Out of 1,980 projects cleared during the global investors meet in early 2016, only 76 projects were dropped, he said.
