Govt fully behind automobile industry’
Published: Friday, Jun 8, 2012, 11:21 IST
By DNA Correspondent | Place: Bangalore | Agency: DNA
The state government has been taking a special interest in the development of the automobile industry, minister for medium and large industries, Murugesh R Nirani, said on Thursday. He was speaking at a seminar on ‘Manufacturing: Focus on Engineering and Automotive Industry’ at the Global Investor’s Meet (GIM).
Nirani said the government had been offering infrastructure to the automobile sector’s growth, including at Narsapura industrial area in Kolar district, which is the upcoming automotive hub. He said that the industrial area was spread over 685 acres and the government was planning to allocate another 1,300 acres to it.
Nirani said that the government had decided to set up dedicated auto zones at Ramanagar, Shimoga, Hubli and Dharwad along the Suvarna Karnataka Development Corridor. He said currently, the state had auto clusters at Hoskote, Bidadi and Dharwad, and an industrial valve cluster at Hubli-Dharwad, besides auto-component clusters in Shimoga and Belgaum.
He said the state government had been taking steps to facilitate the automobile sector’s growth. He said the government was offering a special package for investment of more than Rs250 crore. Also, he said, special packages had been extended to many medium- and largescale projects the in auto sector in the state.
“The government has been offering investment promotion subsidy to small and medium enterprises, exemption of stamp duty and concessional registration charges, refund of conversion penalty, exemption from entry tax, incentives for export-oriented units, interest-free loans and VAT for large and mega projects,” he said.
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