Vision and Objectives

• Transform Karnataka into a sustainable growth ecosystem with global capabilities in:
  • Innovation
  • Research & Development (R&D)
  • Advanced Manufacturing
• Focus on allied sectors:
  • MSMEs
  • Startups
  • Fintech
• Key goals include:
  • Improving industry infrastructure
  • Promoting upskilling and technology transfer
  • Benchmarking policies and processes
  • Increasing capital infusion

Strategies for Implementation

• Strategic partnerships to enhance R&D capabilities.
• Promoting economic growth in Tier-II and Tier-III cities.
• Labour reforms to improve workforce efficiency.
• Attracting investments for:
  • Factory creation
  • Development of state-of-the-art industrial parks

Expected Outcomes

• Proposed investment target: US$ 68 billion.
• Achieve an annual industrial growth rate of 10%.
• Employment generation:
  • 20 lakh direct and indirect jobs.
• Boost to merchandise exports over five years.

Indian IT and Fintech Ecosystems

IT Sector Growth

• Projected sectoral growth rate by NASSCOM: 7.7% (2020).
• Export value: US$ 191 billion (2020).
• Contributing factors:
  • Proliferation of Special Economic Zones (SEZs).
  • Availability of quality talent.
  • Rise of Tier-II and Tier-III cities as IT hubs.
  • Support from Digital India initiatives.

Fintech Sector Growth

• Projected growth: US$ 13 billion (2020) by ASSOCHAM.
  • Software market share: US$ 2.4 billion.
• Key areas of focus:
  • Enhancing cybersecurity and communication in digital payments.
  • Integration of emerging technologies:
    • Artificial Intelligence (AI)
    • Analytics
  • API integrations and cashless transactions.

Future Potential and Global Investment Attractiveness

• Indian IT/ITeS and Fintech sectors poised for exponential growth.
• Radical, future-forward policies to enhance:
  • Innovation
  • Economic competitiveness
  • Global investment appeal