New Karnataka Industrial policy welcomed in DK, Udupi

New Karnataka Industrial policy welcomed in DK, Udupi

Mangalore Today News Network

Mangalore, Oct 23, 2014:  The new industrial policy of the Karnataka state government recently announced. Was welcomed by  B A Nazeer, president of the Canara Plastic Manufacturers and Traders Association (CPMTA).  The new industrial policy will help and increase manufacturing activity particularly micro small and medium enterprises (MSME’s) in the state which in turn help achieve productivity and create employment opportunities in Karnataka.

The vital  parameters will go a long way in easing the plight of the manufacturing stake holders and help to enlarge related economic gains.   It will assist  women, SC/ST and other backward sections of society. CPMTA also welcomed inclusion of Dakshina Kannada and Udupi district in zone 3 backward zone. Entrepreneurs of this region are thereby eligible for incentives and concessions like investment support  subsidies.

Relavant to the  plastic industry, CPMTA welcomed government’s measures to support the plastic waste recycling units with an additional investment promotion subsidy of 5% for MSME sector. A promise of support for establishment of plastic parks in Bangalore, Dharwad and other potential locations and for facilities such as design and prototyping centers, testing and tool room facilities, and so on is a step in the right direction.