Bengaluru: Chief Minister B.S. Yediyurappa announced here on Thursday that the state government would soon come out with a revised Information Technology (IT) policy to promote investment and generate employment in tier-2 and 3 cities of Karnataka
Addressing representatives of member companies of the IT and Biotechnology Ecosystem, the Chief Minister requested them to invest in Mysuru, Mangaluru, Hubballi-Dharwad and Belagavi.
He also announced the setting up of a Karnataka Innovation Authority, that he would head along with Deputy Chief Minister Ashwathnarayan , who would be its co-chairman.
Mr Yediyurappa revealed that a vision group involving key stakeholders from industry and academia to provide insights on strengthening the start-up ecosystem was on the cards as well.
“The state government has framed policies to provide concessions and fiscal incentives for setting up IT parks. This will ensure stamp duty concessions, patent reimbursement, marketing support and sector specific venture funds to the IT sector," he explained, adding that the move was aligned with achieving the end objectives of acceleration of GDP/GSDP rate, investment attraction and increase in export of goods and services.
The cumulative FDI flow into the state from April 2000 to December 2018 stood at US$ 35.69 billion, the third highest in India after Maharashtra and New Delhi, he noted.
“Karnataka contributes close to 40 per cent of India's software exports. It is leading the nation in biotechnology, contributing about 35 per cent of the nation's market share. This has been achieved due to contribution from industry stakeholders and interventions of the government,” he added.
The CM requested IT and BT investors to contribute generously towards rehabilitation of flood-affected people in the state.
Dr. Ashwathnarayana, who also holds the IT and BT portfolio, chairman of the Vision Group, IT, Krish Gopalakrishnan, and Dr. Kiran Mazumdar Shaw, chairperson, Vision Group on Biotechnology were also present.
