The Hindu : Karnataka / Bangalore News : Centre okays feasibility study on industrial corridor

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Centre okays feasibility study on industrial corridor

Special Correspondent

— Photo: K. Murali Kumar

Helping exporters: Union Minister of Commerce Kamal Nath (second from left) along with FIEO vice-president A. Sakthivel (left) and FKCCI president S.S. Patil releasing the Compendium on International Trade during the exporters’ meet in Bangalore on Friday.

BANGALORE: The proposal for setting up a Chennai-Bangalore-Mumbai industrial corridor seems to be moving forward with the Centre initiating a feasibility study on the proposal.

Participating in an exporters’ meet, organised by the Federation of Indian Export Organisations and the Federation of Karnataka Chambers of Commerce and Industry, here on Friday, Union Minister for Commerce and Industry Kamal Nath announced that the Centre has initiated the feasibility study on the proposed corridor.

Speaking on the occasion, Karnataka Industries Development Commissioner Rajkumar Khatri said some of the Japanese companies such as Jetro and Toyota had offered to increase their investment in this region if such a corridor was set up.

Later, speaking to reporters, he said that the proposed corridor would focus on industrial development on nearly 150 km of stretch on either side of the National Highway linking Chennai-Bangalore-Mumbai. Eleven districts and 20 towns in Karnataka, including Chitradurga and Haveri, would be covered by the proposed industrial corridor, he said.

Container train

Mr. Kamal Nath said the plan for providing a dedicated container train for the Bangalore-Mangalore sector to handle freight was high on the Centre’s priority.

Responding to the request made by Mr. Khatri for providing such a dedicated train, Mr. Kamal Nath said: “We will give highest priority for it.”

Mr. Khatri said a dedicated container train would go a long way in the smooth transporting of goods from Mangalore which has a port as well as a refinery.

Referring to the global economic slowdown driven by the U.S. economic slowdown, Mr. Nath said that India’s economy was driven by the domestic market and was not coupled with the U.S. economy. China and India could become big engines of economic growth for the world, he said.

He also sought to allay fears over the impact of the rupee appreciation on the industry. “Your entrepreneurial qualities will play a major role in your success than other factors like rupee appreciation,” he added.

‘Tap markets’

Speaking at the silver jubilee celebration of All India Granites and Stones Association (AIGSA), Mr. Nath said the granite industry should target emerging markets such as East Asia.

promised that the Government would extend all support necessary to provide a level playing field to the industry which is one of the big employers in the country. The Indian industry had the potential to blend traditional craftsmanship with modern technology and cater to the tastes of the new markets, he added.

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