Karnataka Digital Economy Mission Office Launched

The office of the Karnataka Digital Economy Mission (KDEM) was inaugurated in Karnataka.

Highlights

• The office was inaugurated with the objective of increasing the digital economy contribution to Gross State Domestic Product (GSDP) by 30 per cent.
• Along with the office, the “Beyond Bengaluru” report was also published which will facilitate to achieve the target of increasing the contribution.
• The mission was founded on a public-private partnership model. In the mission, the industries like, India Electronics and Semiconductor Association (IESA), NASSCOM, The Associated Chambers of Commerce and Industry of India (Assocham) and Vision Group Start-ups have 51 per cent stake.
• 51 percent stake in industries have been allowed in order to make this office more industry-friendly.
• While 49 per cent of the stake has been kept with the government.
• The government will act as a facilitator in the “Karnataka digital economy mission office” rather than an authority.

How digital economy would be strengthened?

To strengthen the digital economy, the government will focus to improve the connectivity even to remote parts. It will provide 24/7 electricity in those areas. The government will also reduce the rural-urban divide by creating the needed infrastructure.

Aim of the KDEM

The KDEM is aimed at attracting the investments for the IT or ITeS sector in the state. It also seeks to create 10 lakh jobs by 2025. The office will work to achieve the target with the focus on 5 verticals of IT namely the Innovation & Startups, products & services, Electronic System Design & Manufacturing (ESDM), ‘Beyond Bengaluru’, and ‘Talent Accelerator’. The office has been established with the aim of reaching to the goal of 150 billion dollars in IT exports through the state. It also wants to make Karnataka a 300 billion dollars economy by 2025.

Month: Current Affairs - February, 2021