Latest news with #MBPatil
Hans India
10 hours ago
- Business
- Hans India
Will strengthen MSMEs to power supply chains: M B Patil
Bengaluru: Emphasising the vital role MSMEs (Micro, Small , and Medium Enterprises) play in large-scale employment generation, Large and Medium Industries Minister MB Patil said that the state government is focused on integrating MSMEs into the global supply chain. Speaking at the Inaugural session of MSME Conclave- a three-day event organised by KASSIA, FKCCI, and the Peenya Industries Association- Minister Patil said that the MSME sector forms the backbone of Karnataka's industrial ecosystem. He affirmed the government's commitment to fostering its growth through proactive collaboration with the Central Government. ' Karnataka's vision is clear: to become a $1 trillion economy by 2032, powered by our MSMEs. Our objective is to build a more inclusive, sustainable, and globally competitive industrial future,' he emphasised. 'For the same amount of investment, MSMEs generate significantly more jobs than large-scale industries. For instance, with an investment of Rs 10,000 crore, while large industries might create around 10,000 jobs, MSMEs can generate nearly 1.25 lakh jobs,' the Minister explained. He noted that mega industries require a robust supply chain for efficient functioning, and strengthening MSMEs is critical to meeting this demand. The government will continue to support MSMEs through targeted incentives and industry-friendly policies, he assured. 'Across Karnataka, MSMEs—from cutting-edge startups to traditional manufacturers—are building world-class products, boosting exports, and creating jobs. At the national level, MSMEs contribute 30% to India's GDP, generate Rs 15 lakh crore in exports, and provide employment to over 15 crore people. Karnataka is proud to lead with over 38 lakh MSMEs, setting an example in innovation-led and inclusive industrial growth, Patil remarked. State's new Industrial Policy includes targeted incentives such as capital subsidies, power concessions, and easier land access in backward regions. Through the SME Connect initiative, over 1,800 MSMEs have been engaged on Industry 4.0, with more than 60 already adopting advanced technologies. Platforms like VentuRISE are enabling startups and small manufacturers to scale through mentorship and funding, Minister highlighted. 'We are also expanding industrial infrastructure in tier-2 and tier-3 cities to ensure balanced development beyond Bengaluru. These initiatives aim to boost annual manufacturing growth to 12% and create 2 million jobs by 2029. The government is simplifying approvals, promoting digital governance, and integrating MSMEs into global supply chains—where many are already thriving as suppliers and innovators,' Patil noted. He also acknowledged the challenges MSMEs face—such as access to credit, availability of skilled labour, and testing facilities—and assured that the government is actively addressing these issues through targeted policy interventions. Deputy Chief Minister DK Shivakumar, Minister for Small Scale Industries Sharanabasappa Darshanapura, Union Minister of State for Micro, Small and Medium Enterprises Shobha Karandlaje, FKCCI President MG Balakrishna, KASSIA President MG Rajagopal, KSSIDC Chairman T Raghumurthy, and MSME Department Director Nitish Patil were among those present.
Time of India
3 days ago
- Business
- Time of India
IndiGo lines up Rs 1,100 crore MRO facility at Bengaluru airport
Bengaluru: IndiGo signed a pact with the Bengaluru International Airport (BIAL) to set up a maintenance, repair, and overhaul (MRO) facility in Bengaluru. Spread across 31 acres, IndiGo's upcoming MRO facility involves an outlay of Rs 1,100 crore, including infrastructure, plant, and machinery. The development marks a major step towards strengthening India's civil aviation ecosystem and positioning Bengaluru as a key global aviation hub. The facility will feature four hangars capable of servicing four wide-body or eight narrow-body aircraft. It will include one paint hangar accommodating one wide-body or two narrow-body aircraft and support for IndiGo's expanding fleet, including A320/A321XLR aircraft and incoming wide-body models such as the A350 series. It will also enable the capability to service codeshare partners' aircraft. Industries minister MB Patil expressed enthusiasm about the development, stating that Bengaluru is now positioned to emerge as Asia's primary MRO (Maintenance, Repair and Operations) centre. "The government of Karnataka is deeply committed to advancing aerospace and aviation manufacturing in the state. IndiGo's investment in a state-of-the-art MRO facility further strengthens our vision to make Karnataka the MRO Capital of Asia. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với sàn môi giới tin cậy IC Markets Tìm hiểu thêm Undo " This project is expected to generate over 750 direct jobs across engineering, logistics, warehousing, and support services. It will also enhance Kempegowda International Airport's capacity to handle an estimated 1,300 aircraft by the 2031 fiscal, scaling to approximately 2,100 aircraft by the 2037-38 financial year. The facility will attract leading global OEMs and tier-1 suppliers, creating a multiplier effect that boosts ancillary industries, vendor ecosystems, and skill development across the region.
Hans India
4 days ago
- Business
- Hans India
KSIIDC presents Rs 85.90 cr dividend to government
Bengaluru: The Karnataka State Industrial and Infrastructure Development Corporation (KSIIDC) on Wednesday presented a dividend of approximately Rs85.90 crore to the state government. Large and Medium Industries Minister MB Patil handed over the dividend cheques to Chief Minister Siddaramaiah. Of the total amount, Rs 68.69 crore is regular dividend, while Rs 17.21 crore is special dividend. Additionally, Rs 3 crore was contributed to the Chief Minister's Relief Fund on the occasion. Receiving the dividend, Chief Minister Siddaramaiah said it was encouraging to see state-run enterprises posting profits. 'Such profits, when shared, will contribute to various developmental initiatives,' he added. The Chief Minister also noted that over the past two years, public sector undertakings such as KSDL and MSIL have been registering significant profits driven by forward-looking industrial and export promotion policies introduced by the state government. Those present at the event included KJ George, Minister for Energy; Dr. Shalini Rajneesh, Chief Secretary to the Government; N Manjula, Secretary, Department of Infrastructure; and Khushbu Goyal, Managing Director, KSIIDC.
Indian Express
5 days ago
- Business
- Indian Express
Karnataka clears Rs 15,441-crore investment proposals expected to create over 5,000 jobs
The Karnataka government on Wednesday cleared investment proposals worth Rs 15,441 crore, which it expects to generate 5,277 jobs when realised. These include four new and expansion investment proposals and two amendment investment proposals. A meeting of the State High-Level Clearance Committee, which clears proposals exceeding Rs 500 crore, was chaired by Chief Minister Siddaramaiah during the day. According to a release issued by Industries Minister M B Patil, the four new proposals will invest Rs 13,921 crore, generating 3,948 jobs, and the two amendment proposals are worth Rs 1,520 crore, generating 1,329 jobs. The new proposals include investment of Rs 2,406 crore by Shree Cement Limited (300 jobs), proposals by Dalmia Cement (Bharat) Limited worth Rs 3,000 crore and Rs 3,020 crore (570 jobs each), and a Rs 5,495 crore proposal by Emmvee Energy Private Limited (2,508 jobs). The additional proposal includes a Rs 190.17-crore investment by Colortone Textiles Private Limited (371 jobs) and a Rs 1,330-crore investment by Bosch Automotive Electronics India Pvt Ltd (958 jobs). In another meeting, the State-Level Single Window Clearance Committee under Patil approved 63 projects worth Rs 1,741.6 crore. These include seven large and medium industries with an investment of Rs 593.8 crore, which would generate employment opportunities for about 2,093 people. Fifty-three new projects, each with an investment range of Rs 15-50 crore, were also cleared. These projects will invest Rs 1106.6 crore, generating 4,961 jobs. Three additional proposals worth Rs 41.2 crore were also approved.
Time of India
5 days ago
- Business
- Time of India
Karnataka: Cement, electronics among Rs 17,183 cr investment cleared
Two high-level investment clearance committees led by Chief Minister Siddaramaiah and Industries Minister MB Patil on Wednesday cleared investment proposals worth Rs 17,183 crore, with a potential for about 12,500 jobs. The chief Minister's committee cleared two proposals from Dalmia Cement worth Rs 6020 crore, one each from Shree Cement (Rs 2406 crore) and Emmvee Energy (Rs 5495 crore). The committee cleared the additional investment proposals from Colortone Textiles (Rs 190 crore) and Bosch Automotive Electronics (Rs 1330 crore). The committee also extended the time for completion of 10 projects that are in various stages of implementation. Patil said his committee has cleared 60 projects including prefabricated modular, bus body building, aerospace and defence related electronics systems and spare parts manufacturing in Dakshina Kannada, Tumkur, Kolar, Vijayapura, Chitradurga, Chikkamagaluru, Belagavi, Raichur, Yadagiri, Kalaburagi and Bangalore Rural districts. The minister added Karnataka was fully focused to support high impact projects. Live Events
