Karnataka to create 10L jobs in IT and related sector by 2025
The Karnataka Digital Economy Mission (KDEM) will create ten lakh jobs by 2025 in the state as it will attract more investments in the information technology sector, Karnataka Deputy Chief Minister Dr C N Ashwath Narayan said on Tuesday.
"The KDEM will create ten lakh jobs by 2025 and will help Karnataka reach the goal of $150 billion in IT exports, and also become a $300 billion economy by 2025," Narayan, who holds the Electronic and the IT-BT portfolio, said.
He was speaking at the inauguration of the office of Karnataka Digital Economy Mission, which has the objective of increasing the digital economy's contribution to GSDP to 30 percent, and launch of the 'Beyond Bengaluru' report which facilitates achieving this target.
He added that the government would focus on improving connectivity to remote parts of the state, providing round the clock electricity, and reduce rural-urban divide by establishing needed infrastructure in order to strengthen the digital economy.
He sought a bigger role for KDEM in improving the economy of the state.
"The government wanted KDEM to be more industry-friendly and keeping this in mind it has allowed for 51 percent stake to industry associations while retaining a minority holding of 49 percent for itself. The government wants to act rather as a facilitator than an authority," Narayan pointed out.
According to the Additional Chief Secretary in the Department of Electronics, IT/BT, E V Ramana Reddy, the IT sector contributes 25 percent of GSDP of which 98 percent accounts for Bengaluru alone.
In order to increase the share of other regions of the state as well, the 'Beyond Bengaluru' project has been initiated, he said.
According to officials, the KDEM has been set up on a public-private partnership model, where industry associations — NASSCOM, The Associated Chambers of Commerce and Industry of India (ASSOCHAM), India Electronics & Semiconductor Association (IESA), and Vision Group on Startups — contribute 51 percent stake.
Edited by Kanishk Singh