Toyota takes the center stage as one of the leading investors in Karnataka at the Global Investor Summit ‘Invest Karnataka 2016’
Bangalore, 04 February 2016: Toyota Kirloskar Motor reiterates its support to attract investors to Karnataka by actively participating in the Invest Karnataka 2016 scheduled from 3rd to 5th February, the biggest platform for policy makers, global investors and industry players to meet under one umbrella to draw special attention to the strengths and investment opportunities in Karnataka. With automobile manufacturing being identified as the focus sector in the Industrial policy for its high growth trajectory, Toyota being the world’s largest car manufacturer is a keen investor in the potential offered by the State of Karnataka. Toyota has taken a leadership role in developing the Bidadi Industrial Association. Toyota believes Make in India will only be realized when a harmonious business environment will be achieved drawing a real connect between the industry, community and government.
Karnataka is the 4th largest automobile producing state in the country contributing 8.5% to national output. It has large local market potential and connectivity to the top national and international markets. Karnataka currently contributes 5% to India’s service sector income. As an innovation leader in the global auto industry, Toyota Kirloskar Motor strongly believes in Karnataka’s leadership in Innovation and potential toseriously challenge countries like Thailand and Indonesia in attracting foreign investors to its space. The advantages of robust infrastructure, skilled manpower including the knowledge capital, rich resource base, proactive and effective state government policies have helped Karnataka to emerge as an ideal destination for the manufacturing industry.
With the growth of Industry having become indispensable to the growth of the state and creating employment opportunities the industrial infrastructure and support services are striving to keep pace with the requirements of industry for better roads within the industrial estate, better street lighting, assured electricity supply and uninterrupted water supply to keep the wheels of industry moving. This has made necessary industry associations within industrial estates to take over from the state government the responsibility of providing basic amenities and infrastructure facilitating uninterrupted operations and driving cost efficiencies.
TKM being the major player in Bidadi present over 432 acres, realized the high scope of improvement that was required to develop the Bidadi Industrial area and promote it for future investors. With this aim TKM took the leadership in forming a Special Purpose Group (SPG). The initiative was undertaken with a goal to benefit all big and small industries present at Bidadi.
Speaking on the occasion Mr.Shekar Viswanathan, Vice Chairman and Whole – time Director, Toyota Kirloskar Motor Pvt. Ltd said, “Karnataka is one of the fastest growing states in India, propelling the country’s growth to greater heights. As one of the leading investors in Karnataka, Toyota takes pride in being a part of the most awaited business meet of the year Invest Karnataka 2016 to showcase the best practices of Bidadi Industrial Association to the global forum. In future we would like to deploy these learnings to other industrial associations in Karnataka to reflect Toyota’s commitment to contribute to the holistic development of Karnataka as an attractive investment destination. We deeply appreciate the investor friendly responsive state administration and believe that with continued support from Government agencies such as KIADB, PWD and other local bodies, Karnataka will emerge as the finest ecosystem for the manufacturing sector to thrive in the country.”
The association has taken up the complete maintenance of 1500 acres of the industrial area ensuring good infrastructure such as better roads, traffic management, streetlight, drain facility, solid waste disposal, drinking water facilities, vehicle parking and also development of neighborhood community including initiatives to encourage women empowerment in the villages and improvement of living standards.