- Karnataka has unveiled its new IT policy for 2020-25, which aims to generate over 60 lakh direct and indirect jobs in the sector.
- Under the policy, Karnataka wants to contribute about 30% to India’s goal of becoming a trillion-dollar digital economy.
- The policy also looks to shift the focus beyond Bengaluru. The government wants to “enable a remote, distributed labour force beyond Bengaluru, required for the IT industry.
- As part of the policy, a State Cyber Security Policy will be formulated to “employ the necessary data protection safeguards and create and sustain a safe and resilient ecosystem.
- The IT sector in Karnataka is one of the largest employment-generating industries with 80% of global IT firms that have India operations and R&D centres based out of the state.
- The new policy replaces one that covered a period of 2014-19.
- The first IT policy was formulated way back in 1997.
- Ecosystem engagement, talent development (skilling) and ease of doing business are other strategies proposed.
- Under the previous i4 (IT, ITeS, Innovation and Incentives) Policy that expired last year, the government managed to set up industry-partnered K-Tech Innovation Hubs in 24 districts, the Karnataka Unit for International Co-operation (KUIC) was set up, nearly 500 companies were registered to avail various incentives.
- The Cabinet also approved a special incentives scheme for the Electronics System Design & Manufacturing (ESDM) sector, with which the government expects over Rs 5,000 crore in investments and 43,000 direct employment by 2025.
- The government will slash 25% of the land price (up to 50 acres) for investments in ESDM outside Bengaluru Urban and Bengaluru Rural districts.
- A similar capital investment subsidy of 20% will be given on the plant and machinery cost.
- Other sops include 100% reimbursement on stamp duty, registration and land conversion charges, power tariff subsidy of Rs 1 per unit for five years, 1% of annual turnover for five years as production-linked incentive among others.
September 4, 2020
Daily Current Affairs
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