The State government is planning to build a well-equipped office to house various departments on the premises of Karnataka Soaps and Detergents Ltd. (KSDL) in Yeshwantpur.
M.B. Patil, Large and Medium-scale Industries Minister and also chairman of KSDL, said available land on the KSDL premises would be utilised to construct an office complex for government departments in a phased manner. However, this would be done after considering the space required for KSDL’s future expansion and growth.
Mr. Patil said KSDL has a mandate to grow its annual business transactions to ₹2,500 crore by 2025 and ₹5,000 crore by 2030 from the current turnover of ₹1,200 crore. “Our priority and immediate focus is to expand foreign market presence for KSDL products and exports to predominantly to Europe and Arab countries,’‘ he said.
On KDSL’s diversification, the Minister said the company’s product portfolio would be expanded soon by launching groceries, handwashes, etc.
Chit fund business to get a fillip
The chit fund business of Mysore Sales International Ltd. (MSIL) will get a fillip as the State government plans to expand and grow this business in lines with similar business in Kerala, said Mr. Patil.
“We have decided to diversify and expand MSIL’s chit fund business taking inspiration from the model that exists in Kerala. Our aim is to achieve annual transactions worth ₹10,000 crore through chit funding. Women self-help groups will be actively involved in this venture,’‘ he said. Mr Patil also said State PSUs would be given a corporate image to make them more competitive and profitable.
