Karnataka

Shettar seeks report on impact on economic slowdown on industry

Major and Medium Industries Minister Jagadish Shettar has sought a report from officials of his department on the impact of the global economic slowdown on industrial production, employment and closure of industries in the State.

The department officials have been instructed to provide the report in 15 days. Though the global economic meltdown has had limited impact on the State’s economy, it is important to understand the extent of the effect on some of the sectors, Mr. Shettar said.

Industrial bodies have been complaining that the slowdown has impacted the automobile, real estate, and telephone sectors. Speaking to presspersons here on Tuesday, Mr. Shettar said the government would bring out a new industrial policy in two or three months. The policy will be formulated after consultations with all stakeholders and industries bodies, he said.

The term of the Karnataka Industrial Policy (2014-19) will end this year. That policy was formulated during the tenure of the Congress government by former Minister R.V. Deshpande.

Mr. Shettar said the single-window agency would be streamlined to ensure faster clearance of industrial projects, land acquisition, and environmental clearance. At present, the agency exists only in name and entrepreneurs have to go to multiple offices to get clearance for electricity, water, road, forest, and other matters, he said.

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Printable version | Apr 7, 2020 9:51:26 AM | https://www.thehindu.com/news/national/karnataka/shettar-seeks-report-on-impact-on-economic-slowdown-on-industry/article29325891.ece

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