BJP fixed land price on Jindal pact: R V Deshpande

May 11: The Karnataka government appears set to roll out red carpet welcome to foreign companies seeking to move out of China.

The State's Large and Medium Scale Industries Minister Jagadish Shettar said the Government plans to constitute a task force, under the Chairmanship of the Chief Secretary T M Vijay Bhaskar, to spearhead the drive to attract such investment. A proposal to this effect has been sent to the Chief Minister B S Yediyurappa for approval, the Minister told PTI in an interview.

This panel would take feedback and suggestions from a consultative committee to be formed with prominent industrialists from the State and representatives of various countries located here, Shettar said.

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.

Shettar also held interactions with industry bodies, including Confederation of Indian Industry (CII), the Federation of Karnataka Chambers of Commerce and Industry (FKCCI), Bangalore Chamber of Industry and Commerce (BCIC) and Karnataka Small Scale Industries Association (KASSIA).

Industrialists who took part in the deliberations suggested to the government to focus on ease of doing business and improving the single window clearance system for approvals, as the Minister spelt out government's intent of further improving the investment climate to attract industries to Karnataka.

To boost the industry sentiment in the State, they also stressed the need on easing land acquisition regulations, and leveraging the knowledge base of Bengaluru to promote technology-based manufacturing.

"Given the interest shown by some companies in moving their manufacturing bases out of China, the industry leaders recommended that the State government identify a target list of 100 firms to reach out to for attracting to the State, and work out a strategy to bring them to Karnataka," an Industry department official said.

The industry leaders assured cooperation from the private sector in reaching out to and facilitating interactions with CEOs of these companies.

Shettar said restrictions on acquisition of agriculture land for starting industries have now been relaxed with the passage of an amendment to the land reforms act in the recent Legislature session.

This would facilitate immediate land allotment to industries, he added.

The Minister has also submitted a proposal to the Chief Minister on relaxing labour laws.

Secretary General of industry body ASSOCHAM, Deepak Sood, told news agency recently that there is a broader consensus that the global manufacturing supply chain would be more spread than concentrated in major economies like China.

"If India comes out of the present crisis with minimum of impact, we can be the destination of choice for the global manufacturing giants in different sectors like electronics, computer hardware, pharmaceuticals, including medical devices, automobile, including components and other engineering products," Sood had said.

Gopalakrishnan, also co-founder of Infosys and former CII President, said India has to target companies which have operations in China, reach out to them, understand what their needs are and hold discussions with them.

"We have to make sure that their requirements are addressed, be it with regard to land, office space, faster approvals, and some concessions on local taxes. It depends on the businesses that the companies are in, and if we are able to respond to those requests, I think we will be able to attract them", he told news agency.

"All states will compete for this business (foreign investment)," Gopalakrishnan added.

Jan 21: Info Edge (India)'s shareholding in Zomato reduces to 22.71%; Uber receives 9.99% stake in Zomato.

Info Edge (India) announced that Zomato Media (Zomato) has signed a definitive agreement to acquire Uber's food delivery business in India (Uber) in an all-stock transaction, which gives Uber 9.99% ownership in Zomato.

Uber Eats in India will discontinue operations and direct restaurants, delivery partners, and users of the Uber Eats apps to the Zomato platform, effective 21 January 2020.

Upon closing of said acquisition, the company's shareholding in Zomato shall stand reduced to about 22. 71 % on fully converted & diluted basis.

Bengaluru, Feb 15: The Karnataka Legislative Assembly has decided to set aside two days - March 2 and 3 - for a special discussion over the controversial Citizenship (Amendment) Act continues across the country.

Assembly Speaker Vishweshwara Hegde Kageri told media persons here today that the Assembly would act as a platform for legislators to speak about the relevance of the Constitution and its contributions for the last seven decades. He had already held a round of discussions with senior legislators and all have expressed their willingness to participate in the debate. More details of the discussion would be worked out in the next few days after a meeting of the Business Advisory Committee of the House on February 18.

Asked whether it would be possible to have discussions rising above partisan politics in the present scenario, Mr. Kageri said “I have appealed to members to discuss the Constitution beyond the political prism.” Each member would be asked to speak on a specific topic of the Constitution.