Karnataka will play major role in making India $5 trn economy: CM Basavaraj Bommai


According to a report in Indian Express, Karnataka Chief Minister Basavaraj Bommai said on Sunday that Karnataka will play a major role in realising PM Modi’s dream of making India a $5-trillion economy. He added that it is through startups that the state will make a significant contribution towards building the economy of a ‘new India’.

He added that the state government has taken a series of steps, including providing guidance and support, to encourage startups in the state. He also said that it is a matter of pride that out of 54,000 startups in the country, 13,000 are in Karnataka.

Bommai said this in his virtual address on the occasion of National Startup Day.

In the coming days, the state government would provide a big boost for startups, innovation, scientific thinking and entrepreneurship, the report said.

“Thanks to the long-term vision of PM Modi, the number of startups which was around 500, has crossed the 54-000-mark now. He has given a big push for innovation and startups by setting up a forum to help them and freeing them from the restrictions of the government. The Prime Minister has been the inspiration for the highest growth of startups in the state”, the report said.

He added, “Karnataka is in the number one spot in IT BT sector in the country. The first software company in Karnataka was started in 1980. It has seen a rapid growth since then and the state has the maximum share in IT BT exports.”

The CM further said that financial assistance is being provided through programmes like ‘Elevate 100’ and ‘Elevate Unnati’ for setting up startups by SC and ST communities. Under the ‘Amrit Startup’ programme, financial help is being provided for 75 startups by OBC and minority community members, he said. Similarly, 25 startups by women are being provided requisite financial assistance. About Rs 120 crore has been granted for 482 startups in the state, the report said.

The CM also said that the state government is mulling taking startups to various districts of the state under its ‘Beyond Bengaluru’ project. A new research and development Policy would be unveiled to encourage setting up startups from a small garage to big scientific research and industrial units, he added,

‘Strong foundation for inculcating entrepreneurship spirit from school-level’

It has been decided to encourage scientific thinking, innovation and entrepreneurship by including them as subjects in school syllabus, Bommai said. About 150 ITIs have been upgraded and it has been decided to upgrade diploma colleges, he added. The state government would come up with an ambitious programme to lay a strong foundation in schools and colleges for scientific thinking, innovation and entrepreneurship, the report said.

There are over 180 science and research institutions in various fields in Bengaluru. The government is keen to see more startups coming up in agriculture, horticulture and sericulture, which generate more employment, he said. Bommai also wished that there would be more startups which have a social responsibility towards education, health, social welfare and women’s empowerment.

The CM said, “Karnataka will play a major role in realising PM Modi’s dream of making India a $5 trillion economy. Through startups, a new Karnataka will make a significant contribution towards the economy of a new India.” (Indian Express)