Industry body BCIC welcomes K'taka budget, calls it growth oriented
Bengaluru (PTI): The Bangalore Chamber of Industry and Commerce on Saturday welcomed the Karnataka Budget 2026-27, recognising its balanced approach towards fostering economic growth, supporting MSMEs, and enhancing infrastructure development.
K Ravi, Senior Vice President, BCIC and Chairman, International Business Committee. appreciated the government's commitment to strengthening the Micro, Small, and Medium Enterprises (MSMEs) sector through targeted financial incentives, skill development programs, and ease of doing business reforms.
"These measures are expected to boost manufacturing capabilities and create significant employment opportunities across the state," he said, in a statement.
According to him, the budget's focus on infrastructure, including investments in road connectivity, urban development, and industrial parks, tourism and hospitality aligns with BCIC's vision of a robust industrial ecosystem that supports sustainable growth and competitiveness.
BCIC also applauded the emphasis on IT, AI, technology and innovation, which it said will drive Karnataka's position as a leading hub for startups and digital economy initiatives.
While the budget presents ambitious welfare schemes and agricultural support, BCIC said it encourages continued dialogue between industry stakeholders and the government to ensure effective implementation and maximise impact.
BCIC further said that it remains committed to collaborating with the government to facilitate a conducive business environment that promotes investment, innovation, and inclusive growth in Karnataka.
Chief Minister Siddaramaiah on Friday presented his record 17th budget with a total outlay of Rs 4,48,004 crore.
Reacting to the state budget, Karmendra Kohli, CEO, SecurEyes said it sends a strong signal on digital responsibility.
He said in a statement that the proposed social media ban for children under 16 is a timely step but its success will hinge entirely on robust digital identity verification and enforcement mechanisms, which are inherently cybersecurity challenges.
Similarly, the establishment of the Bangalore Robotics and AI Innovation Zone and AI Centers of Excellence is exciting, but every AI platform is a potential attack surface, Kohli said.
"As Karnataka accelerates its digital ambitions, cybersecurity cannot be an afterthought; it must be embedded from the ground up. We look forward to the state building on its Cybersecurity Policy 2024 with dedicated budget allocations that match the scale of its tech aspirations," he added.
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Iran attacks oil tanker near Dubai; Trump warns of strikes on energy sites if Hormuz remains shut
Tel Aviv/Washington: Iran attacked and set ablaze a fully loaded crude oil tanker off Dubai on Monday after US President Donald Trump warned that Washington would target Iran’s energy infrastructure if the Strait of Hormuz is not reopened.
According to a Reuters report, the Kuwait-flagged tanker Al-Salmi is owned by Kuwait Petroleum Corporation and was capable of carrying around 2 million barrels of crude. . It was struck in what authorities later described as a drone attack. The company said the incident occurred early Tuesday, causing a fire and hull damage. No injuries were reported and the fire was brought under control, Dubai authorities said .
Oil prices rose briefly following the attack and added to volatility in global energy markets. In the United States, retail gasoline prices crossed $4 per gallon for the first time in more than three years, according to data from GasBuddy, as crude prices moved above $101 per barrel.
Israel said it carried out missile strikes on military infrastructure in Tehran and on sites linked to Iran-backed Hezbollah in Beirut. Explosions were reported in parts of Tehran, with Iran’s Tasnim news agency saying power outages occurred in the eastern Pirouzi district following the blasts.
The Israel Defense Forces said four soldiers were killed in southern Lebanon. In recent days, three peacekeepers serving with the United Nations Interim Force in Lebanon were also killed in separate incidents in the same area.
Iran’s military spokesperson said Tehran’s latest wave of missile and drone strikes targeted US military positions at five bases in the region and sites in Israel. Thousands of troops from the US Army’s 82nd Airborne Division have begun arriving in the Middle East, according to US officials, expanding Washington’s military options even as diplomatic efforts continue.
White House Press Secretary Karoline Leavitt told Reuters Trump wants an agreement with Iranian leaders before a revised April 6 deadline for reopening the Strait of Hormuz, adding that talks were progressing, while public statements from Tehran differed from private communications.
Iran’s Foreign Ministry spokesperson Esmaeil Baghaei said proposals received through intermediaries were “unrealistic” and maintained that Iran was focused on defending itself.
In a social media post, Trump said that if a deal is not reached soon and the strait is not reopened, the US would strike Iran’s electric generating plants, oil wells and Kharg Island. However, a report in The Wall Street Journal said Trump had told aides he may be willing to end the military campaign even if the strait remains largely closed and address reopening it later. The White House referred to earlier remarks by Secretary of State Marco Rubio that the strait would be opened “one way or another.”
The administration has also requested an additional $200 billion in funding for the conflict, a proposal that faces opposition in the US Congress.
