Industry bodies seek speedy clearances for projects.

Even as trade and industry bodies welcomed the state's new industrial policy (2014-19), they have appealed to the government to set up a proper mechanism for Centre-State coordination to ensure speedy clearances for several projects.

There is a need to fast-track clearances for Chennai-Bangalore-Chitradurga Industrial Corridor and Bangalore-Mumbai Industrial Corridor projects in order to implement these two key important infrastructure corridors, which would play a crucial part in the development of industrial clusters across the corridor, the chambers said.

'We welcome the new industrial policy, especially the government's thrust on attracting investment worth Rs 5 lakh crore and creation of 1.5 million jobs in the next five years. The proposal to raise the subsidy for MSMEs to 100 per cent from 50 per cent is a welcome move,' Bangalore Chamber of Industry and Commerce (BCIC) senior vice president Anuj Sharma said.

BS