Karnataka launches Engineering R&D policy; aims to create new jobs
Bengaluru:The Karnataka government on Tuesday launched the Engineering Research & Development (ER&D) policy-2021, claimed to be the first such in the country, that aims to enable the state to contribute about 45 per cent to India’s Engineering R&D during the policy period and create an additional about 50,000 new jobs.
Department of Electronics, IT, Bt and S&T, Karnataka Innovation and Technology Society (KITS), and NASSCOM were involved in drafting this policy after wider consultations with all the other participating stakeholders including the representatives of the industry, an official release said.
The five priority sectors of the policy include Aerospace & Defence; Auto, Auto Components & EV; Biotechnology (Bt), Pharma & Medical Devices; Semiconductors, Telecom, ESDM; and Software Products.
“The ER&D sector in the country is the fastest growing industry with a CAGR of 12.8 per cent.Meanwhile, the global Engineering Research and Development industry is expected to reach a spend of USD 2 trillion by 2025.” “Considering this scenario, this policy aims to prepare the state to make use of the future opportunities emanating from this sector,” Deputy Chief Minister C N Ashwath Narayan said.
Karnataka is currently the leading contributor to the Indian Engineering R&D industry revenue, and the state is home to over 400 leading R&D Centres/GCCs (global capability centres), according to the DCM, who also holds the IT/Bt and S&T portfolio.
The policy aims to retain this position, generation of intellectual property (IPs), and to make this as a skilled knowledge capital.
The state, which has been at the forefront of technological innovation for a long time, has come out with this visionary policy after studying the industry trends, he said.
It intends to make Karnataka a preferred destination of choice for global MNCs, GCC, engineering service providers (ESPs) and to create a suitable ecosystem all across the state, he added.
The objective of the policy include- attract leading Engineering R&D entities to establish and/or expand in Karnataka, creating strong linkages between Industry and Academia, establishing and offering access to advanced testing, prototyping, and other innovation infrastructure, facilitate ER&D entities to adopt leading practices and gain marketing opportunities.
It also envisages developing a research-oriented skilled talent pool and fostering a knowledge economy, attracting Engineering R&D intensive investment into Karnataka, and to augment capacity by bridging the gap between engineering/ research talent and industries technology needs, the release said.
The investments offered under the policy include- rental reimbursement for setting up/ expanding in beyond Bengaluru urban district, recruitment assistance for setting up/ expanding in beyond Bengaluru urban district, investment subsidy for setting up or expanding in beyond Bengaluru urban district.
The policy aims to develop Engineering R&D Future Skills Courses and promote the adaptation of these courses in state government engineering universities/ affiliated colleges.
According to the release, to promote internships to bridge the gap between academic skills and the needs of the Engineering R&D industry, the government will reimburse 50 per cent of the internship stipend for interns per entity, for a period of 3 months, up to Rs 10,000 per month per intern.
The entity will offer internships to 33 per cent women candidates and consider 30 per cent of the total interns into full-time employment, it added.
Now you can get handpicked stories from Telangana Today on Telegram everyday. Click the link to subscribe.
Click to follow Telangana Today Facebook page and Twitter .
