Global Innovation Parks Karnataka
Karnataka Chief Minister Siddaramaiah announced plans to set up Global Innovation Parks during the 27th Bengaluru Technology Summit 2024. These parks aim to transform Bengaluru, Mysuru, and Belagavi into hubs for technology, innovation, and global business development.
For more details : https://thesouthfirst.com/karnataka/karnataka-to-build-global-innovation-parks-in-bengaluru-mysuru-and-belagavi/
Karnataka’s Global Innovation Parks: A Step Towards Progress
The Global Innovation Parks in Karnataka will attract leading Global Capability Centres (GCCs) and strengthen the state’s reputation as a top destination for tech-driven enterprises. These parks will offer advanced infrastructure, ample resources, and a collaborative environment to foster innovation in technology, manufacturing, and services.
The government plans to implement India’s first GCC Policy as part of this initiative. This policy will create 350,000 jobs and contribute $50 billion to Karnataka’s economy over the next five years. It also includes expanding 500 GCC units to ensure sustainable growth in the technology and manufacturing sectors.
Regional Hubs Supporting Innovation Parks in Karnataka
The development of these parks aligns with Karnataka’s goal to decentralise its tech ecosystem. Specialised hubs will complement the innovation parks by focusing on specific industries:
- Mangaluru will drive advancements in financial technology, establishing itself as a fintech hub.
- Hubballi-Dharwad will lead the state’s electric vehicle (EV) innovation and production efforts.
- Mysuru will focus on drone technology, becoming a center for drone development.
Strengthening Karnataka’s Manufacturing Sector
The government is also advancing manufacturing initiatives by establishing an Electronics Manufacturing Cluster in Mysuru. This cluster will boost semiconductor production, support local industries, and create thousands of jobs. These efforts will accelerate regional economic growth while enhancing Karnataka’s leadership in advanced manufacturing.
By launching these transformative projects, Karnataka reinforces its position as a global leader in technology, innovation, and manufacturing.
Stay informed about Karnataka’s vision for a tech-driven future!
Read also : Karnataka Winter Session to Begin in Belagavi on December 9
