Centre Clears Rs 80 Crore Tech Hub for Bangalore - The New Indian Express

Centre Clears Rs 80 Crore Tech Hub for Bangalore

Published: 01st February 2014 08:04 AM

Last Updated: 01st February 2014 08:04 AM

IT/BT Minister S R Patil on Friday announced that the Centre has approved a proposal to set up an electronic system design and manufacturing (ESDM) cluster near Electronics City at a cost of Rs 80 crore.

Patil said the proposed ESDM brownfield cluster was approved by the Department of Electronics and Information Technology. According to the National Electronics Policy 2012, the ESDM cluster is expected to generate $400 billion by 2020 and 28 million jobs. “This cluster will go a long way in promoting Bangalore and Karnataka as the ESDM destination of the country. The State government has also come up with an ESDM policy to attract investments in the sector,” he said.

The Minister said the State earned Rs 1.65 lakh crore in IT exports and the figure is likely to exceed Rs 4 lakh crore by 2020. At present, 10 lakh people work in the IT sector in the State and an additional 10 lakh jobs will be created in the next seven years, Patil said. The government has set a target of generating 20 per cent of the country’s ESDM exports besides generating 2.4 lakh new jobs in the sector by 2020.

Karnataka is New Age Incubation Network

Patil said his Department will implement a New Age Incubation Network initiative for entrepreneurship development in nine colleges in Mysore, Tumkur, Gulbarga, Dharwad, Bijapur, Bagalkot, Nitte, Belgaum and Shimoga.

“The initiative aims to create new jobs in the State. The Department has allocated Rs 40 lakh per college to fund only the management of the programme and execution of the projects,” Patil added.

The Minister distributed cheques of Rs 5 lakh each to the nine colleges besides issuing certificates to eight ESDM companies.

Disclaimer: We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the NIE editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.


Recent Activity

Pinterest Google Plus Twitter Facebook tumblr RSS Mobile Site apple Newshunt