Bengaluru Tech Summit: Karnataka to unveil revised AVGC-XR and biotech policies, says CM Siddaramaiah

Chief Minister Siddaramaiah said Karnataka's impact on the IT landscape is nothing short of extraordinary.

Karnataka Chief Minister Siddaramaiah announced on November 29 that the state will soon introduce new Animation, Visual Effects, Gaming, Comics, and Extended Reality (AVGC-XR) and revised biotech policies.

"The state government will launch Animation, Visual Effects, Gaming and Comics - Extended Reality (AVGC-XR) policy. This is a testament to our ongoing commitment and progressive approach in leading the nation’s AVGC sector towards global excellence," Siddaramaiah said during his address at the 26th edition of the Bengaluru Tech Summit (BTS) 2023.

"Building on this legacy of innovation, Karnataka was also the pioneer in introducing a biotech policy in 2001. As we continue to champion advancements in biotechnology, I'm thrilled to announce that a revised biotech policy is set to be unveiled at the BTS. This policy revision reflects our commitment to staying ahead of the curve and fostering growth in this critical sector," he added.

"In 2015, Karnataka took a visionary step by launching a startup policy, well before the Government of India recognised the need for a central-level startup policy. This foresight has propelled Karnataka to the forefront of the startup ecosystem, nurturing and supporting the entrepreneurial spirit that defines our dynamic state," Siddaramaiah said.

The CM said Karnataka's impact on the IT landscape is nothing short of extraordinary. "Home to over 5,500 IT/ITES companies and approximately 750 multinational corporations, our state has been a driving force behind the sector's success, contributing around $85 billion to the nation's exports. This vibrant industry has not only provided direct employment to over 12 lakh professionals but has also created a ripple effect, generating over 31 lakh indirect jobs. Karnataka's share of software exports, nearly 40% of the country's total, solidifies its position as a global IT powerhouse," the chief minister said.

Siddaramaiah said the state has become the most sought-after destination for global capability centres (GCCs), hosting around 40 percent of GCCs in India. "The availability of a skilled digital talent pool, a thriving innovation and startup ecosystem, and a conducive policy environment have fuelled the growth story of GCCs in Karnataka," he said.

In a bid to make Karnataka a hub for innovation and business growth, the government is focused on building a seamless ecosystem that attracts investment, talent, and opportunities.

"Our government is focused on building a seamless ecosystem that attracts investment, talent, and opportunities. We want Karnataka to be seen as the hub with an 'end-to-end ecosystem' for innovating and growing businesses. Our pro-business policies reflect our dedication to simplifying regulatory processes. From affidavit-based clearance to land reforms, central inspection systems, and single-window clearances, each step we take is aimed at encouraging an industry-friendly environment," Siddaramaiah said.

"Karnataka has been at the forefront of pioneering sector-specific policies that have played a pivotal role in shaping our state's trajectory towards progress. In 1997, we set a precedent by becoming the first state in the country to introduce a ground-breaking Information Technology Policy. Fast forward to today, and the IT sector stands as a cornerstone of our economy, contributing a substantial 25% to our GDP," he added.

Siddaramaiah also emphasised the importance of collaboration between industry, academia, and the government in shaping policies that drive the state's development.

"Crucially, our policies are not developed in isolation but are driven by collaboration between industry and academia, in tandem with the state government. Vision groups in IT, biotech, and startups, comprising industry stalwarts and leaders, operate as think tanks, shaping the trajectory of our state's development" he said.

"Yet, even as we celebrate these achievements, we recognise that challenges persist. The digital divide is a reality we must address, ensuring that the benefits of technology reach every citizen, regardless of their background," Siddaramaiah said.

"We aim to bridge this gap through targeted initiatives, utilizing the power of data and analytics to drive informed decision-making in governance. Beyond Bengaluru is a unique initiative in that direction with the primary focus of developing and enhancing ecosystems in regions beyond Bengaluru and bridging the digital divide" he added.

The Karnataka CM also pledged the government's commitment to furthering the state's technological trajectory.

"Our government is committed to furthering this technological trajectory. We will invest in the infrastructure needed to support the next wave of innovation, foster collaboration between industry and academia, and create policies that propel the state of Karnataka to new heights on the global tech stage," he said.