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Home arrow News arrow Automotive arrow Karnataka Govt clears HMSI's proposal for manufacturing unit in the State
Karnataka Govt clears HMSI's proposal for manufacturing unit in the State Print E-mail
Written by James   
Friday, 15 July 2011
Bangalore: The Karnataka government has cleared, among others, a proposal by Honda Motorcycle and Scooter India (HMSI) to set up a Rs 1,350 crore manufacturing unit in Narsapur Industrial area of Kolar district of the State. Commercial production is expected to commence from April 2013. The groundbreaking ceremony is likely to be held next month.

The government cleared proposals totalling Rs 8,662 crore which include automobile (2), Ceramics (1), Chemicals (2), Education (1), Engineering (2), Food processing (2), Infrastructure (2), Steel (3), IT Park (1), Petrochemicals (1), Sugar (8),Textile (1) and others.

Karnataka Industries Minister Murugesh Nirani said that these proposals have the potential to generate employment for around 23,000 people.

The Karnataka government plans to conduct the second Global Investors Meet (GIM) on June 7 and 8, 2012. Last year's GIM yielded Rs 3.92 lakh crore worth of investment proposals and witnessed inking of 389 MOUs. Of the 389 MOUs signed last year, 20 projects have been implemented and 215 are under various stages of implementation.

Chief Minister B S Yeddyurappa said that, with this year's GIM, the government was targeting investment proposals totalling Rs 5 lakh crore.

"India has an excellent opportunity as it generates millions of engineers and doctors. The skills of Indians is no less than anywhere in the world. We should encash this potential," he said. "We need to manage land and water well and also skill development issues. India cannot afford to have less than 10 per cent economic growth," CII President B Muthuraman said. He called for the country focusing on value addition and encouraging downstream industries rather than upstream industries to boost growth levels.

 
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