Karnataka’s new policy for Engineering R&D to create 50,000 employment opportunities

Karnataka’s Department of Electronics, IT & Biotechnology launched the Engineering Research and Development (R&D) Policy 2021. The policy has the aptitude to create 50,000 employment opportunities. The policy may attract investment into the state beyond Bengaluru in the next five years.

The policy developed in partnership with NASSCOM will also look at increasing Karnataka’s contribution to ER&D to 45% in the five-year period.

The policy prioritizes five sectors- aerospace and defence; auto, auto components and EV; biotechnology, pharma and medical devices; semiconductors, telecom, ESDM; and software products.

Ashwath Narayan CN, Deputy Chief Minister, Karnataka at the policy launch said, “The State’s ER&D industry has witnessed accelerated growth over the recent years, and Karnataka has evolved to be the preferred home. In recognition of the same, the Government of Karnataka has taken the lead in coming up with a progressive ER&D Policy.”

 

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