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News on Medial
Karnataka targets 15-16% industrial growth by 2032, says CM Siddaramaiah
YourStory
·
1y ago
Medial
Karnataka Chief Minister Siddaramaiah has announced the state's goal of achieving an industrial growth rate of 15-16% annually, to reach a GDP of $1 trillion by 2032. This announcement was made at the curtain-raiser event for the Invest Karnataka global investors meet, which is scheduled for February 2025. The event will highlight rural development and feature over 100 speakers, with the launch of initiatives such as SME Connect 2025 and VentuRISE 2025, a global startup challenge focused on specific sectors. The state aims to attract investors with its upcoming industrial policy and competitive incentives.
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GST demand over UPI credits: CM Siddaramaiah to meet stakeholders on Wednesday - The Economic Times
Economic Times
·
2d ago
Medial
Karnataka CM Siddaramaiah plans to meet stakeholders over GST notices issued to small traders based on UPI data, demanding tax arrears. The notices have sparked protests and rejection of digital payments. Siddaramaiah blames the Centre for the crisis, while BJP offers legal aid. The GST data, covering 2021-2025, has led to many rejecting QR codes. A three-day state-wide protest is planned, highlighting the impact on small businesses and vendors.
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Gig workers to get ₹4 lakh insurance cover in Karnataka: CM
Inshorts
·
2y ago
Medial
On Friday, Karnataka Chief Minister Siddaramaiah revealed that gig workers employed as delivery personnel in e-commerce platforms such as Amazon, Zomato, and Swiggy would receive an insurance coverage of ₹4 lakh. This coverage includes ₹2 lakh for life insurance and ₹2 lakh for accident insurance. The Chief Minister confirmed that the government would bear the entire insurance premium.
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PM Modi Meets Foxconn Chief, Discuss India Investment Plans
Inc42
·
11m ago
Medial
PM Narendra Modi and Foxconn chairman Young Liu discussed the company's investment plans in states like Karnataka, Tamil Nadu, and Andhra Pradesh. Liu also met with senior Mizoram official Jonathan Lalremruata to explore potential investments in the state. Furthermore, Liu is scheduled to meet with Karnataka CM Siddaramaiah and state industries minister MB Patil on August 16.
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It’s all Greek! Karnataka CM Siddaramaiah pulls up Meta for ‘misleading’ Kannada translations - The Economic Times
Economic Times
·
8d ago
Medial
Karnataka Chief Minister Siddaramaiah criticized Meta for inaccurate and misleading Kannada to English translations on platforms like Facebook and Instagram. He highlighted the risks of incorrect translations, especially in official communication, and urged Meta to address the issue. Siddaramaiah's media advisor formally requested Meta to improve translation accuracy by collaborating with linguistic experts. The CM's office also suggested suspending the auto-translation feature for Kannada until accuracy is enhanced to avoid public misinterpretation.
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Foxconn chief to meet Karnataka CM Siddaramaiah on August 16, India manufacturing unit in focus: Report | Mint
Livemint
·
11m ago
Medial
Chairman and CEO of Hon Hai Technology Group (Foxconn), Young Liu, is scheduled to visit Karnataka in India. During his visit, Liu will meet Chief Minister Siddaramaiah and Minister for Large and Medium Industries, MB Patil. He will also visit Foxconn's under-construction manufacturing plant in Bengaluru. Although it is unclear if new investments will be announced, the visit is seen as an opportunity for further economic growth and job creation in the region. Foxconn is investing ₹8,500 crore in the plant, which is expected to generate 100,000 jobs in the coming years.
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Karnataka CM to engage commercial taxes dept as GST notices scare small biz away from UPI - The Economic Times
Economic Times
·
4d ago
Medial
Small businesses in Bengaluru are reverting to cash transactions due to GST notices based on UPI transaction data. Karnataka CM Siddaramaiah plans to discuss this issue with the central government and state departments. BJP has announced a helpline to support small traders, criticizing the GST notices as an attempt to undermine the digital economy. The commercial taxes department claims notices were issued only for turnover requiring GST registration, amidst allegations of bribe offers to settle notices.
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Karnataka: Cabinet committee clears sops for three semiconductor projects
Economic Times
·
1m ago
Medial
The Karnataka cabinet subcommittee, led by Chief Minister Siddaramaiah, approved incentives for investments by Applied Materials, Lam Research, and Bharat Semi Systems to bolster the state's semiconductor industry. The projects include an R&D Fab by Applied Materials in Bengaluru, two units by Lam Research for advanced semiconductor technologies, and a design manufacturing facility by Bharat Semi Systems in Mysuru. These initiatives aim to make Karnataka a global semiconductor hub, creating over 3,500 jobs.
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₹2k cr being invested in Narmadapuram to make it renewable energy hub: MP CM
Livemint
·
7m ago
Medial
Madhya Pradesh Chief Minister, Mohan Yadav, announced a ₹2000 crore investment in the Narmadapuram region to develop it as a renewable energy hub. The industrial area of Mohasa-Babai will be the center of development, providing employment opportunities to the youth in surrounding areas. With its abundant forest resources and good connectivity, Narmadapuram is suitable for industrial growth. Land allotment letters were distributed to various renewable energy companies, further promoting the region's industrial development. This marks the sixth Regional Industrial Conclave in Madhya Pradesh.
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Why IT services firms don’t offer full-year guidance but set lofty goals
Livemint
·
7m ago
Medial
Indian IT services companies like LTIMindtree, Coforge, Sonata Software, and Happiest Minds have set ambitious revenue targets despite not providing full-year guidance. LTIMindtree, for example, aims to more than double its revenue to $10 billion by 2032, while Coforge aspires to achieve combined growth of $4 billion in the next four fiscal years. Although investors have remained unenthused, companies believe that setting lofty goals demonstrates their vision and attracts investor attention. Such targets are not limited to mid-cap companies and have been previously announced by larger firms, although they often fall short of expectations.
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UP will generate 20,000 MW of renewable energy by 2027: CM Adityanath
Economic Times
·
28d ago
Medial
Uttar Pradesh, led by Chief Minister Yogi Adityanath, plans to generate 20,000 megawatts of renewable energy by 2027. This initiative supports Prime Minister Narendra Modi's net-zero emissions target by 2070. Adityanath underscored the role of Central Electronics Limited (CEL) in this energy transition. CEL is developing a greenfield data centre and has signed a MoU for 200 megawatts of solar modules, showcasing its growth and contribution to India's industrial resurgence.
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