Karnataka’s New Phase in Economic and Social Development
Karnataka have in the recent past made remarkable strides in terms of economic development and industrialization. The success story of Karnataka has led to the creation of a paradigm shift in creating new development models. With an impressive economic growth rate and high per capita income levels, the state is the lead runner in providing quality education and health facilities across the state. This was due to the proactive role played by the government of Karnataka in promoting industrialization through private and public participation with the firm belief that Industrial development can create more job opportunities and root out much of the developmental problems. Now a new successful phase is being unleashed in Karnataka in the Economic and Social Development front. This is being led none other than by the Industry bodies in Karnataka like the Confederation of Indian Industry (CII), Federation of Karnataka Chambers of Commerce and Industry ( FKCCI) Bangalore Chamber of Commerce & Industry (BCIC) and Karnataka Small Scale Industries Association (KASSIA). The focus of these institutions is not only on economic development but setting priorities for a long term social development by engaging the key stakeholders in the development process. Industry associations are working on solutions for the long term development of Karnataka by identifying the priority sectors which can generate employment and identifying industrial zones in underdeveloped regions in the state.
This has been done to support the efforts of the Government of Karnataka in promoting the state as an Investment destination. These key Industrial players have played an influential role in attracting Foreign Direct Investment (FDI), Industrial development of backward regions in the state, bridging the rural urban divide and boosting international trade and tourism efforts. The Industrial bodies have promoted the Karnataka state aboard and brought in technology and managerial expertise that is driving the state into a new growth trajectory. The associations has helped to build better business relations with countries abroad which has lead to spurt in investment in Karnataka and also helped the industrial firms in Karnataka to scout for business opportunities and acquisitions abroad. The associations have played the leading role in enhancing the competitiveness among the manufacturing and services industries by offering consultancy services, advising the Government and the other policy makers on the need for economic reforms and providing training to improve the skills sets of the employees working across the different sectors in the state. These industrial trade bodies are also undertaking diplomatic and trade missions abroad to facilitate trade and cooperation in the manufacturing and the services sector and promoting Karnataka as the most preferred Investment destination in the country. Credit is due to these bodies for removing the bottlenecks in investment and advising the government on the need for the structural reforms which has lead to the formation of single window clearing system to clear business proposals.
One of the important agendas of these industry associations is to enhance the investment in infrastructure and to support the mega infrastructure projects coming up in Karnataka. This has lead to the investment in the tune of Rs. 73, 937 crores, the highest among all the sates in India. The associations are working closely with the state Government to promote investment in this crucial sector which leads to better economic prospects in the coming years.
Karnataka possesses a vast pool of IT and BT professionals and with some of the country's best academic and premier research institutions is a preferred hub for over 100 R&D with several multinational and domestic companies. The Industry associations have worked closely with the Research and academic institutions in facilitating Industry Academia interactions. These interactions have helped both the Industry and academic Institutions to work on joint ventures and also to help the students of colleges to understand and develop the skill sets that is needed in the market.
CII in partnership with the Ministry of Panchayati Raj is rolling out Rural Business Hubs in Karnataka to help facilitate economic activity in the rural areas which are likely to emerge as the biggest growth markets in the near future. Under the proposed RBH plan, industry, both large and small will come together with farmers or local artisans to enhance the market value of rural products with the objective of market access for the rural poor and profitability across the value chain. The associations have also played a proactive role in promoting medical tourism in the state by promoting the state as a referral quality health destination which is supported by qualified and experienced medical professionals and reputed medical research institutions. These associations have also undertaken social development projects to improve the standard of living of the under privileged and working with the civil society to address some of the state’s developmental challenges.
Industrial and trade bodies have played the role of a touch point for potential investors and facilitated the growth of the small and medium Enterprises (SME’s) by helping them to identify opportunities and providing advise and guidance to prospective entrepreneurs. These associations have set up panels and forums to study the problems associated with the development of the SME units in the state and to train the SME’s on process and quality benchmarking to improve the productivity.
In Karnataka the successful Industrial policy resolutions and new schemes gave a fresh impetus to the growth and development of small industries. In the context of the impact of the WTO the Government was quick with policies and institutional support to help the sector and the sector began to get adapted to the Globalization requirements of skill, quality and price competitiveness of production including delivery schedule. Innovation of products and product design picked up, technology upgradation got accelerated and market access and deeper understanding of user and consumer requirements began to yield result. In the field of exports, the Small Scale Industry (SSI) sector has excelled many other states in terms of exports. Of this the electronics and computer software, readymade garments, silk products, gem & Jewelry, chemical and allied products and plastic goods are dominating. The Industry associations have played a crucial role in helping the SSI’s to adopt best quality practices, helping to upgrade technology and providing an environment to learn from best practices in India and abroad.
Karnataka is the new face of an India on the move .Industry associations in Karnataka are fast turning into development institutions with not only development of industries as the one of the objective but also working on inclusive growth by taking the benefits of Industrialization and economic growth to all sections of the society. In terms of the broader economic and Development Agenda, the Industry associations in Karnataka are building cross sectoral coordination and partnerships among Government, private sector and civil society to develop the state into an economic and global powerhouse.
Karnataka have in the recent past made remarkable strides in terms of economic development and industrialization. The success story of Karnataka has led to the creation of a paradigm shift in creating new development models. With an impressive economic growth rate and high per capita income levels, the state is the lead runner in providing quality education and health facilities across the state. This was due to the proactive role played by the government of Karnataka in promoting industrialization through private and public participation with the firm belief that Industrial development can create more job opportunities and root out much of the developmental problems. Now a new successful phase is being unleashed in Karnataka in the Economic and Social Development front. This is being led none other than by the Industry bodies in Karnataka like the Confederation of Indian Industry (CII), Federation of Karnataka Chambers of Commerce and Industry ( FKCCI) Bangalore Chamber of Commerce & Industry (BCIC) and Karnataka Small Scale Industries Association (KASSIA). The focus of these institutions is not only on economic development but setting priorities for a long term social development by engaging the key stakeholders in the development process. Industry associations are working on solutions for the long term development of Karnataka by identifying the priority sectors which can generate employment and identifying industrial zones in underdeveloped regions in the state.
This has been done to support the efforts of the Government of Karnataka in promoting the state as an Investment destination. These key Industrial players have played an influential role in attracting Foreign Direct Investment (FDI), Industrial development of backward regions in the state, bridging the rural urban divide and boosting international trade and tourism efforts. The Industrial bodies have promoted the Karnataka state aboard and brought in technology and managerial expertise that is driving the state into a new growth trajectory. The associations has helped to build better business relations with countries abroad which has lead to spurt in investment in Karnataka and also helped the industrial firms in Karnataka to scout for business opportunities and acquisitions abroad. The associations have played the leading role in enhancing the competitiveness among the manufacturing and services industries by offering consultancy services, advising the Government and the other policy makers on the need for economic reforms and providing training to improve the skills sets of the employees working across the different sectors in the state. These industrial trade bodies are also undertaking diplomatic and trade missions abroad to facilitate trade and cooperation in the manufacturing and the services sector and promoting Karnataka as the most preferred Investment destination in the country. Credit is due to these bodies for removing the bottlenecks in investment and advising the government on the need for the structural reforms which has lead to the formation of single window clearing system to clear business proposals.
One of the important agendas of these industry associations is to enhance the investment in infrastructure and to support the mega infrastructure projects coming up in Karnataka. This has lead to the investment in the tune of Rs. 73, 937 crores, the highest among all the sates in India. The associations are working closely with the state Government to promote investment in this crucial sector which leads to better economic prospects in the coming years.
Karnataka possesses a vast pool of IT and BT professionals and with some of the country's best academic and premier research institutions is a preferred hub for over 100 R&D with several multinational and domestic companies. The Industry associations have worked closely with the Research and academic institutions in facilitating Industry Academia interactions. These interactions have helped both the Industry and academic Institutions to work on joint ventures and also to help the students of colleges to understand and develop the skill sets that is needed in the market.
CII in partnership with the Ministry of Panchayati Raj is rolling out Rural Business Hubs in Karnataka to help facilitate economic activity in the rural areas which are likely to emerge as the biggest growth markets in the near future. Under the proposed RBH plan, industry, both large and small will come together with farmers or local artisans to enhance the market value of rural products with the objective of market access for the rural poor and profitability across the value chain. The associations have also played a proactive role in promoting medical tourism in the state by promoting the state as a referral quality health destination which is supported by qualified and experienced medical professionals and reputed medical research institutions. These associations have also undertaken social development projects to improve the standard of living of the under privileged and working with the civil society to address some of the state’s developmental challenges.
Industrial and trade bodies have played the role of a touch point for potential investors and facilitated the growth of the small and medium Enterprises (SME’s) by helping them to identify opportunities and providing advise and guidance to prospective entrepreneurs. These associations have set up panels and forums to study the problems associated with the development of the SME units in the state and to train the SME’s on process and quality benchmarking to improve the productivity.
In Karnataka the successful Industrial policy resolutions and new schemes gave a fresh impetus to the growth and development of small industries. In the context of the impact of the WTO the Government was quick with policies and institutional support to help the sector and the sector began to get adapted to the Globalization requirements of skill, quality and price competitiveness of production including delivery schedule. Innovation of products and product design picked up, technology upgradation got accelerated and market access and deeper understanding of user and consumer requirements began to yield result. In the field of exports, the Small Scale Industry (SSI) sector has excelled many other states in terms of exports. Of this the electronics and computer software, readymade garments, silk products, gem & Jewelry, chemical and allied products and plastic goods are dominating. The Industry associations have played a crucial role in helping the SSI’s to adopt best quality practices, helping to upgrade technology and providing an environment to learn from best practices in India and abroad.
Karnataka is the new face of an India on the move .Industry associations in Karnataka are fast turning into development institutions with not only development of industries as the one of the objective but also working on inclusive growth by taking the benefits of Industrialization and economic growth to all sections of the society. In terms of the broader economic and Development Agenda, the Industry associations in Karnataka are building cross sectoral coordination and partnerships among Government, private sector and civil society to develop the state into an economic and global powerhouse.
No comments:
Post a Comment