CII KARNATAKA
Karnataka contributes 22% to global R&D, says IT Minister Priyank Kharge
Karnataka IT Minister Priyank Kharge on Wednesday said the state is at the forefront of innovation, contributing 22 per cent to global R&D, and is leading in areas such as technology services. The state government is striving to make not just Karnataka but India a skilled nation, research and manufacturing destination, innovation capital and biotech and startup hub, he said.
Maharashtra, Karnataka, Delhi top UK's investment flows from India: Report
Maharashtra, Karnataka, and Delhi led in bringing foreign direct investment (FDI) to the UK, per a CII and Indian High Commission joint report. The report highlighted the contributions of Indian companies in various sectors, showcasing their positive impact on the UK economy, job creation, and cultural diversity. Additionally, it notes the significant economic ties between India and the UK, with India being the UK's second-largest source market.
Ease of I-T refunds, taxpayers saw reduced time, simplified process: survey
The survey further reveals that not only has the refund timing been reduced, individual taxpayers have also reported simplification of the refund process with 90% of taxpayers getting automatic refunds. Also 75% of the individual taxpayers did not have to pay extra tax beyond the tax deducted at source (TDS).
CII outlines nine-track plan to transform south India by 2047
Inaugurating a new office of the CII here on Saturday, Bali said the southern region will focus on key enablers of growth that would propel the economic growth of the southern states, with the theme 'Transformation through Competitiveness, Growth, Sustainability, Trust and Globalisation' for 2023-24, a CII release said.
Pharma companies ask government to exempt cheap drugs from price control
The pharmaceutical industry has sought an exemption from ceiling price for all low-priced formulations up to Rs 5 per unit. In a meeting held on Tuesday, the sector lobby groups also asked the government for exemption from implementation of trade margin rationalisation (TMR) on formulations which are priced below Rs 10 per unit, while it agreed to the implementation of TMR in a phased manner, said people aware of the matter.
PM MITRA mega textile parks to create 20 lakh jobs: Piyush Goyal
These parks will create 20 lakh direct/indirect jobs and attract an estimated Rs 70,000 crore of domestic and foreign investment, he added. Goyal further said they will be shining examples of sustainability, with zero liquid discharge, common effluent treatment, use of emission-free renewable energy and adoption of global best practices.
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Kamal Bali elected CII Southern Region chairman; R Nandini dy chairperson
Nandini, an active member of the CII, was the co-chairperson of CII National Council Task Force on rural development and migrant workforce. She is also the past chairperson of the education sub-committee in 2022-23 and past chairperson of CII Tamil Nadu in 2010-11, the release said.
CII K’taka focuses on startups, offers access to industries, CEOs, investors
CII Karnataka chairman Arjun M Ranga and vice chairman Vijaykrishnan Vekatesan said they have set up a Startup Task Force which will work in specific areas to further strengthen the vibrant startup ecosystem.
‘One-Health’ initiative to be launched in Bengaluru on June 28
“DAHD in collaboration with the Bill & Melinda Gates Foundation (BMGF) and The Confederation of Indian Industry (CII) as implementation partner is implementing the One-Health Framework undertaking project in the states of Karnataka and Uttarakhand,” the Ministry of Fisheries, Animal Husbandry & Dairying said.
Notes from Davos: India first!
To ensure that India gets maximum mileage of goodwill from this happy convergence of circumstances, the government undertook some planning. It convened a prep meeting chaired by Commerce and Industry minister Piyush Goyal on May 19. It was attended by Chief Ministers, Ministers and officials of the state governments, industry representatives and the Confederation of Indian Industry. The mission was very simple: speak in one voice.
HDFC chairman Deepak Parekh sees robust housing demand in India to continue
"The India real estate market is on an upward cycle which bodes well for all of us. The big star of the real estate sector continues to remain residential housing in India. I hardly need to reiterate that demand for housing in India continues to remain robust," Parekh said while addressing the CII Real Estate event.
Karnataka's online gaming bill could hurt jobs, says IAMAI
The bill introduced in the assembly appears to have been drafted without considering the various legal and constitutional positions by including a wide definition of 'gaming' in amendments against various Supreme Court and high court judgments, says IAMAI
Karnataka to announce cyber security, data centre policy soon, says IT minister CN Ashwath Narayan
The government is promoting innovation within Karnataka and beyond, the minister said speaking at the Indian Innovation Summit organised by CII in Bengaluru. The state, he added, has become part of the emerging technologies in IT & IT services in the world.
Karnataka's only weakness is entrepreneurship quality; government will improve it, says CM
Addressing a virtual event by industry chamber CII, Bommai said the state during the early 1950s till 1970s had laid a strong foundation not only in terms of manufacturing units but also in skills, foriegn collaboration and research and development (R&D).
India Inc approaches states on labour law framework, seeks less compliance
The Centre has been reluctant to dilute the rules under the codes and industry sees interactions with states as an opportunity to drive home its concerns about rise in compliance cost after the implementation of the codes.
Industry bodies urge CM Yediyurappa to let them resume operations
Many states are permitting industries to operate with adherence to Covid-19 protocols. Some of the states have even treated export units along with their vendors/suppliers as part of "essential industries," they said in a joint appeal to the chief minister.
Centre identifies 9,732 compliances to be tweaked or erased, states too likely to scrap archaic laws
The deadline is critical as India is set to celebrate its 75th Independence Day this year with a likely focus on “ease of living” and “ease of doing business”, among others.
India recorded $1422 mn FDI inflow from UK in 2019-20: Grant Thornton report
The report prepared in collaboration with the Confederation of Indian Industry (CII) and with the support of the UK’s Department of International Trade observes the latest trends on the UK investments in India.
Karnataka industries minister says Wistron and Toyota incidents will not affect state’s investment prospects
“These incidents will not hurt future investments. In fact, the government-approved investments of Rs 22,419 crore on Monday for EV manufacturing projects. The government is doing everything to encourage businesses,” the minister told ET. On addressing labour grievances, he said the industries department is regularly in touch with the labour department to solve labour related issues
India can attract $120-160 billion FDI annually by 2025: CII-EY report
As per the report, India has observed a GDP growth of 6.8% in the current decade, with FDI to GDP at around 1.8%. Adopting an approach of reshoring in manufacturing of electric vehicles and high-end machinery, regionalization of some of the global value chains in cotton textiles and mining, coupled with diversification of services are the factors that will determine FDI inflows post Covid-19, it said.
Social enterprises looking at innovative ways to revive handloom sector post-lockdown
The fear of the unknown is the lived reality of the handloom industry in India. Handloom is the second largest employment provider in the country, after agriculture. According to the 2019-20 National Census of Handloom Weavers, there are 31.44 lakh households engaged in weaving and allied activities, out of which 87% are in rural areas.
Maharashtra, Sikkim prohibit hotels from resuming operations
On Saturday, guidelines issued by the Ministry of Home Affairs (MHA) permitted hotels and restaurants to resume operations outside containment zones from June 8. The guidelines also said states could, based on their assessment, prohibit certain activities outside containment zones or impose restrictions.
Karnataka government eyes foreign companies seeking to move out of China
In recent days, the Minister held consultations with industrialists such as co-founder and Non-Executive Chairman of Infosys Ltd, Nandan M Nilekani, Executive Chairperson of Biocon Ltd, Kiran Mazumdar-Shaw and Chairman of early-stage startup accelerator and venture fund Axilor Ventures Senapathy (Kris) Gopalakrishnan to fine-tune the States outreach push.
HMSI, Yamaha calibrating operating processes to re-start production after lockdown ends
HMSI Director Sales and Marketing Yadvinder Singh Guleria told PTI that the company has applied for permissions from respective state governments to start production at its plants.
CII asks Karnataka to consider zone-wise, stage-wise restart of economy
CII Karnataka Chairman Sandeep Singh and Vice Chairman Ramesh Ramudarai met chief minister BS Yediyurappa two days ago and submitted a detailed set of recommendations on staggered opening up of different sectors of the economy .
SC likely to hear soon appeal challenging proceedings against CII President Vikram Kirloskar
The appeal has been filed by Kirloskar and others against the Karnataka High Court's July 3 order which had upheld a trial court's decision of issuing summons to them while taking cognisance of the complaint.
Focus is now on investments in the manufacturing sector: N Chandrababu Naidu
Naidu said, "I can proudly say that my success rate is more than 50%, which is considered the highest for any state in India through partnership summits."
Karnataka Industries Minsiter urges Centre to back Apple to help it realize its Bengaluru project
Wistron has an existing facility at Peenya, an industrial suburb near Bengaluru, and is briskly ramping up its manufacturing capacity in anticipation of an early deal from the Cupertino-based smartphone maker.
India to maximise rocket capability for more launches
Bengaluru, Jan 11 (IANS) India would maximise its rocket capability to launch more satellites for maximum return on investment, its space agency chief said on Wednesday.
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