Karnataka to unveil ‘electric vehicle and energy storage policy’

Agencies
August 23, 2017

Bengaluru, Aug 23: The Karnataka government today said it will come out with an "Electric vehicle and energy storage policy" soon with an intention to make the state the electric vehicle capital of the country.

"We will soon be coming out with an electric vehicle and energy storage policy. Today in many countries electric vehicles have come, it is going to be the future, but because of the battery cost they have become costlier," Karnataka Industries Minister R V Deshpande told reporters here.

He said, "we will be the first state to bring this policy to attract investments into this new sunrise sector. Discussions are going on, we will bring it soon."

Pointing out various initiatives undertaken by the Industries and Commerce Department to boost investments in the state, the Minister said Karnataka had maintained first place under 'Investment Intention' according to Central government's Department of Industrial Policy and Promotion, with an intention of investments of Rs 1,40,683 crore.

He said in the last four years 1,823 projects have been approved by the state level single window clearance committee and state high level clearance committee with an investment of Rs 3.34 lakh crore, generating employment to 8.98 lakh persons.

He also pointed out that Karnataka government was laying emphasis on labour intensive sectors like toy manufacturing, mobile phones, tablets, electronic components and assemblies, and also to create more employment in manufacturing sector.

Deshpande also called on the private sector to join hands with the government to promote job creating ventures and more investments.

He also listed out that recently investment proposals have been received from companies such as Oracle India, TVS Motors, MRPL (Ethanol Plant), IKEA, SAP Labs, Wipro Aerospace, Molex India, HNI Autotech, ACE Bright Pharma among others.

Noting that 'Invest Karnataka', a non-profit company is incorporated to promote industries in Karnataka with 5 industry representatives and two government officials in the Board, Deshpande said Deepak Sood had been appointed as CEO to this company by deputation from CII.

The Minister highlighted the department's initiatives which include establishment of machine tool park and Japanese industrial township at Vasanthnarsapura, efforts to establish polymer design and development research laboratory on cost-sharing basis with government of India among others.

Also, coastal cashew tech centre in Kumta, marine export facility centre at Tadadi, six exclusive women industrial parks were the others.

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News Network
May 2,2020

Bengaluru, May 2: Former chief minister and Congress leader Siddaramaiah have urged the state government to arrange free-transport facilities to those stranded labourers and their family members to return their native places.

In a statement issued here on Friday, the former chief minister criticised the State Government for having decided to collect bur fare from them, ''three-times more than the regular fare''.

Stating that the migrant labourers, who had been stranded ever since lockdown had been clamped in the entire country are not in a position to pay for their travel, Siddaramaiah urged the state government to treat them with human face.

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News Network
May 10,2020

Bengaluru, May 10: Amid the coronavirus lockdown, two police inspectors were suspended for their alleged involvement in the illegal sale of cigarettes.

"Two police inspectors suspended after an enquiry found their involvement in illegal sale of cigarettes during the lockdown in Bengaluru," informed Joint Commissioner of Police (Crime) Sandeep Patil while speaking to news agency.

More details in this regard are awaited.

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News Network
February 21,2020

Washington, Feb 21: Days ahead of his India visit, US President Donald Trump on Thursday said the two countries could make a "tremendous" trade deal.

"We're going to India, and we may make a tremendous deal there," Trump said in his commencement address at the Hope for Prisoners Graduation Ceremony in Las Vegas.

Trump, accompanied by First Lady Melania Trump, is scheduled to travel to Ahmedabad, Agra and New Delhi on February 24 and 25.

Ahead of the visit, there have been talks about India and the United States agreeing on a trade package as a precursor to a major trade deal.

During his commencement address, Trump indicated that the talks on this might slowdown if he did not get a good deal.

"Maybe we'll slow down. We'll do it after the election. I think that could happen too. So, we'll see what happens," he said.

"But we're only making deals if they're good deals because we're putting America first. Whether people like it or not, we're putting America first," Trump said.

Bilateral India-US trade in goods and services is about three per cent of the US' world trade.

In a recent report, the Congressional Research Service (CRS) said the trading relationship is more consequential for India -- in 2018 the United States was its second largest goods export market (16.0 per cent share) after the European Union (EU, 17.8 per cent), and third largest goods import supplier (6.3 per cent) after China (14.6 per cent) and the EU 28 (10.2 per cent).

"The Trump Administration takes issue with the US trade deficit with India, and has criticised India for a range of 'unfair' trading practices," the CRS said.

"Indian Prime Minister Modi's first term fell short of many observers' expectations, as India did not move forward with anticipated market opening reforms, and instead increased tariffs and trade restrictions," it said.

"Modi's strong electoral mandate may embolden the Indian government to press ahead with its reform agenda with greater vigour. Slowing economic growth in India raises concerns about its business environment," CRS said.

As per a fact sheet issued by the Council on Foreign Relations (CFR), trade in goods and services between the two countries from 1999 to 2018 surged from $16 billion to $142 billion.

India is now the United States' eighth-largest trading partner in goods and services and is among the world's largest economies.

India's trade with the United States now resembles, in terms of volume, the US' trade with South Korea ($167 billion in 2018) or France ($129 billion), said Alyssa Ayres from CFR.

"The United States for two years now has set out in stone pretty clearly the things that they wanted to see to try to get an agreement, and it's basically then on India's doorstep on whether they want to take those steps," Rick Rossow, Wadhwani Chair in US-India Policy Studies at the Center for Strategic and International Studies think-tank told reporters during a conference call.

"The list of US asks has been pretty static all throughout. Not to say that any of these things are easy for India to do, but the United States to my knowledge didn't change the goalposts just because we now consider India to be a middle-income country. The things that we wanted to see happen to get this trade agreement have been pretty static all throughout, no matter how difficult they are," he said in response to a question.

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