Karnataka govt approves 14 investment projects worth Rs 34,115 crore
Belagavi, Dec 12: The State High-Level Clearance Committee (SHLCC), headed by Karnataka Chief Minister Siddaramaiah on Tuesday approved 14 projects worth Rs 34,115 crore, with a potential to create 13,308 jobs across the state.
Of the 14 proposals that received the SHLCC nod, 10 are new projects worth Rs 19,452.40 crore, while the remaining four are additional investment projects of investments worth Rs 14,662.59 crore.
Minister for Large and Medium Industries M B Patil said that the committee approved Taiwanese electronics manufacturing giant Foxconn's proposal to invest an additional Rs 13,911 crore. The company has already received approval to invest Rs 8,000 crore in the state.
Other major proposals that received the government's green signal are JSW Renew Energy Four Limited (Rs 4,960 crore investment), JSW Steel Limited (Rs 3,804 crore investment), Toyota Kirloskar Motor Private Limited (Rs 3,237.30 crore investment), TRIL Bengaluru Real Estate Six Limited (Rs 3,273 crore investment), Janki Corp Limited (additional investment of Rs 607 crore), the Minister added.
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Among the proposals that will generate employment and spur industrial growth in North Karnataka that received approval were JSW Renew Energy Four Limited, Janki Corp Limited, JSW Steel Limited, and Orient Cement Limited.
The four projects will result in cumulative investment of Rs 9,461 crore, and create 3,538 jobs in North Karnataka.
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Trump says EU has until July 4 to approve last year's trade deal or it will face higher tariffs
Washington (AP): President Donald Trump has said in a social media post that goods from the European Union would face higher tariff rates if the 27-member bloc fails to approve last year's trade framework by July 4.
The announcement on Thursday appeared to be a deadline extension after the president said last Friday that EU autos would face a higher 25 per cent tariff starting this week. Trump made the updated announcement after what he described as a "great call" with European Commission President Ursula von der Leyen.
Still, the US president was displeased that the European Parliament had yet to finalize the trade arrangement reached last year, which was further complicated in February by the US Supreme Court ruling that Trump lacked the legal authority to declare an economic emergency to impose the initial tariffs used to pressure the EU into talks.
"A promise was made that the EU would deliver their side of the Deal and, as per Agreement, cut their Tariffs to ZERO!" Trump posted. "I agreed to give her until our Country's 250th Birthday or, unfortunately, their Tariffs would immediately jump to much higher levels."
It was unclear from the post whether Trump was implying that the tariff rates would jump on all EU goods or the increase would only apply to autos.
His latest statement indicates he might be backing away from his earlier threat on EU autos by giving the European Parliament several more weeks to approve the agreement.
Under the original terms of the framework, the US would charge a 15 per cent tax on most goods imported from the EU.
But since the Supreme Court ruling, the administration has levied a 10 per cent tariff while investigating trade imbalances and national security issues, aiming to put in new tariffs to make up for lost revenues.
