IT policy 2025-30: Karnataka to pump in ₹967 crore towards incentives

The Hindu
The Hindu
1d ago 9 views
Karnataka plans to invest ₹967 crore to enhance its IT sector, focusing on AI and emerging technologies beyond Bengaluru. This initiative aims to boost the state's global brand as an AI-native destination.
IT policy 2025-30: Karnataka to pump in ₹967 crore towards incentives
A What happened
The Karnataka government has announced a ₹967 crore investment under its IT policy for 2025-2030, focusing on attracting investments in AI and other emerging technologies, particularly in cities beyond Bengaluru. The financial plan includes ₹754.62 crore for fiscal incentives and ₹212.50 crore for government interventions like fellowships. New incentives will support faculty development, recruitment, and operational costs, including electricity and property tax reimbursements. The policy aims to increase the IT sector's contribution to the Gross State Value Added (GSVA) from 26% to 36% and boost software exports from ₹4.09 lakh crore to ₹11.5 lakh crore by 2030. It also plans to establish integrated technology campuses and improve digital infrastructure. Non-fiscal support includes exemptions from certain employment rules and provisions for 24/7 operations, ensuring safety and welfare for women employees.

Key insights

  • 1

    Focus on AI Investments

    The policy emphasizes attracting AI and tech investments beyond Bengaluru.

  • 2

    Diverse Incentives Offered

    Incentives include operational cost reimbursements and faculty support.

  • 3

    Economic Growth Goals

    Aims to significantly increase IT sector contributions and software exports.

  • 4

    Support for Women in Tech

    Initiatives include fellowships for mid-career women tech professionals.

Takeaways

Karnataka's IT policy for 2025-2030 represents a strategic investment in technology and innovation, aiming to position the state as a leader in AI and tech development while fostering economic growth and inclusivity.

Topics

AI & ML Economy