The Bangalore Chamber of Industry and Commerce (BCIC) has urged the Karnataka Government to bring out its new industrial policy in tune with the rapidly changing economic environment.
In a memorandum submitted to the Karnataka Industries and Commerce Department, BCIC said the government should formulate a cohesive industrial policy to give thrust on overall economic development in order to transform the State into one of India’s foremost industrialised States with a high growth trajectory.
H.V. Harish, president of BCIC, said, “Karnataka is significantly an industrialised State with a high growth rate, good industrial climate, and several other positives. However, of late the State was unable to generate enough jobs for its growing population. Its infrastructure is crumbling and not registering a uniform growth rate.”
In addition, Bangalore, India’s Silicon Valley, is rapidly degenerating with roads caving in; garbage increasing manifolds, facing severe water scarcity and often putting up with power breakdowns and the Metro project getting unduly delayed.
BCIC has also advised the State government to dovetail its policy initiatives that make smart use of Centrally driven interventions which is the key for the economic development of the State.
The chamber has also urged the government to promote private sector investment in skill development, through a market-driven approach.