India markets close in 4 hours 51 minutes

    +341.44 (+0.84%)
  • Nifty 50

    +91.55 (+0.77%)

    -0.0650 (-0.09%)
  • Dow

    +113.37 (+0.40%)
  • Nasdaq

    +37.61 (+0.33%)

    +85,959.50 (+10.58%)
  • CMC Crypto 200

    +7.28 (+3.05%)
  • Hang Seng

    +178.39 (+0.73%)
  • Nikkei

    +99.46 (+0.42%)

    +0.0591 (+0.07%)

    +0.1791 (+0.19%)

    -0.0220 (-0.11%)

    -0.0010 (-0.07%)

    -0.0110 (-0.02%)

Vision group submits report on creating FMCG cluster, to transform Hubballi-Dharwad

·2-min read

Bengaluru, Oct 2 (PTI) The vision group set up to explore opportunities for Fast Moving Consumer Goods sector in the state on Friday submitted a vision document to the Karnataka government on setting up a cluster in Dharwad that aims to generate turnover above Rs 25,000 crore and create five lakh direct and indirect jobs.

Joint Managing Director of Jyothy Labs Ltd and Chairman of the vision group Ullas Kamath submitted the vision document Transform Hubballi-Dharwad: Vision 2020-2025 to Large and Small-Scale Industries Minister Jagadish Shettar.

The document outlines the imminent need to Transform Hubballi-Dharwad in a much-needed growth impetus for North-Karnataka.

On the fundamentals of Atmanirbhar Bharat', the FMCG cluster targets creating 5 lakh job opportunities with 35 per cent economic growth of the region by 2025, an official release said.

Hubballi-Dharwad will be the flag-bearer for the next industrial revolution in Karnataka, contributing to India's ambition to become a USD 5 trillion economy - in a true win-win-win situation for society, industry and the government, it said.

'FMCG cluster development will be proposed in three phases, with each phase comprising of investment of Rs 2500 crore from 50 FMCG companies (an average investment of Rs 50 crores each),' Kamath said.

'Each phase will generate 50,000 jobs, with 80 percent of jobs reserved for the domiciles, and 50 percent for women. Each phase is expected to occupy an area of around 500 acres,' he added.

Hubli-Dharwad was identified suiting the development needs, given its connectivity with the consumer markets of Bengaluru, Belgaum, Hyderabad, Pune, Mumbai, and Hubballi- Dharwad itself is a growing market.

The cluster seeks to change the social demographics of the Hubli- Dharwad region, with almost Rs 12,000-15,000 crore of economic transactions in the association of the cluster, the release said.

Minister Shettar pointed out that the government had announced setting up of FMCG cluster in Dharwad during the last budget and to fulfil the promise FMCG vision group was formed.

The government shall study the vision report and hold discussion with various stakeholders to set up the cluster in coming days,he said.

'This FMCG cluster is being actively pursued by the government to attract investments and generate large-scale employment in the North Karnataka region.

Hubli-Dharwad will be the FMCG hub for South India, generating turnover in excess of Rs 25,000 crore.

The initiative envisages to create 5 lakh of direct and indirect job opportunities, through the associated service industry like transport, premium hotels, restaurants,' he added.

According to the release, Karnataka has been an attractive investment destination and is one of the most industrially advanced states in India, and the state today is a nearly USD 250 billion economy and growing strong. PTI KSU BN WELCOME KSU BN WELCOME