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

Basavaraj Bommai said that the state will play a major role in realising Prime Minister Modi's dream of making India a $5 trillion economy

Stating that Karnataka through startups would make a significant contribution to the country's economy, Chief Minister Basavaraj Bommai on Sunday said that the state will play a major role in realising Prime Minister Modi's dream of making India a USD 5 Trillion economy.

The Chief Minister in his online message on the occasion of 'National Startup Day' said that the idea of New Karnataka for New India would be made a reality.

"Karnataka will play a major role in realising Prime Minister Modi dream of making India a USD 5 Trillion economy. Through startups a New Karnataka would make a significant contribution to the economy of New India," said Bommai and congratulated the Prime Minister for encouraging the youth to inculcate scientific thinking to face new challenges.

"Karnataka is set to play a big role in the nation's economy in the future. It is a matter of pride that out of 54,000 Startups in the country 13,000 are in Karnataka. Karnataka government has taken a slew of measures to encourage setting up of Startups," said the Karnataka Chief Minister.

He further said that guidance and scientific support is being provided by the government, adding that in accordance with the Prime Minister's wish, Startup Day was celebrated in a meaningful manner in the state.

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

"Thanks to the long term vision of the Prime Minister, the number of startups which was around 500, has crossed the 54000 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," said Bommai.

"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 rapid growth since then and the state has the maximum share in IT BT exports," he said.

The Chief Minister further said that financial assistance is being provided through programmes like Elevate 100, 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. Similarly, 25 startups from women are being provided assistance. About Rs 120 crore has been granted for 482 startups in the state, he said.

"State government is mulling to take 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," said the Karnataka Chief Minister.

He further said that it has been decided to encourage scientific thinking, innovation and entrepreneurship by including them as subjects in the school syllabus.

"About 150 ITIs have been upgraded. It has been decided to upgrade Diploma colleges. The state government would bring an ambitious programme to lay a strong foundation in schools and colleges for scientific thinking, innovation and entrepreneurship," he said.

There are over 180 science and research institutions in various fields in Bengaluru. Government is keen to see more startups coming in agriculture, horticulture and sericulture which generate more employment, he added.

Bommai wished more startups to come forward with social responsibility towards education, health, social welfare and women's empowerment.