Karnataka to promote gem and jewellery industry in big way

Bangalore, May 16 (UNI) Karnataka has drawn up plans to attract gems and jewellery industry in a big way involving an investment of Rs 15,000 crores Minister for SSI and Sericulture Katta Subramanya Naidu said today.

Speaking at an interaction meeting with SSI associations organised by Karnataka Small Scale Industries Association, he said this would lead to creation of three lakh jobs besides involving a large inflow of foreign exchange into the country.

The gem industry was mainly concentrated in Gujarat and Maharashtra and the state government would encourage investment by offering top class facilities and infrastructure, he said.

"The government is committed sustain and develop the SSI sector.

The state had 3.30 lakh SSIs out of which 30 to 40 per cent had become sick. We want to revive the sick firms and winding up of sick industries would be done as a last resort," he said.

Assuring the industrialists over sanctioning of industrial sheds, which had not been done for the past ten years, he said all pending proposals and issue sale deeds to those who had been allotted sheds would be done by the first week of June.

Various district level SSI associations highlighted their problems and their complaints were mainly directed towards the unfriendly attitude of government agencies like KSSIDC, KSFC AND KIADB.

KASSIA President Haresh P Hegde said the government should restore the one time settlement of outstanding loans owed by entrepreneurs to government agencies like KSFC. This would help them raise additional loans from banks and go for capacity expansion, he said.

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