Karnataka mulls relief for MSMEs to revive growth

The Karnataka government is mulling a relief package for micro, small and medium enterprises (MSMEs) to help revive growth in the state struck by Covid pandemic, state Large and Medium Scale Industries Minister Jagdish Shettar said on Tuesday.

"A special relief package for MSMEs is under discussion with the government," said Shettar following a virtual meeting with select industry leaders.

Shettar had a video conference with Biocon Chairperson Kiran Mazumdar Shaw, former Infosys CEO Krish Gopalakrishnan and Infosys Chairman Nandan Nilekani on how to revive growth in the state.

The industry leaders advised Shettar to improve the single-window clearance system, easing land acquisitions regulations and leveraging Bengaluru knowledge worker base.

They also suggested that the government should identify 100 companies to reach out to invest in the state as some companies have stated that they will leave China.

Meanwhile, Shettar said the government is also in the process of notifying a new industrial policy.

( With inputs from IANS )