Digi economy to contribute 30% to GSDP: Ashwath Narayan

BENGALURU: The Karnataka Digital Economy Mission (KDEM) aims to increase contribution of the digital economy to the GSDP (Gross State Domestic Product) to 30 per cent, with the State government a minor partner in the initiative, and industry associations holding a majority stake. 

Inaugurating the office of the Karnataka Digital Economy Mission on Tuesday, Deputy Chief Minister and IT-BT Minister Dr CN Ashwath Narayan said, “The government wants KDEM to be more industry-friendly, and keeping this in mind, it has allowed for 51 per cent stake for industry associations, while retaining a minority holding of 49 per cent. The government wants to act as a facilitator rather than an authority.” 

The event also saw the report ‘Beyond Bengaluru’ being launched. DyCM Narayan, who also holds the Electronics and Science & Technology portfolio, said the government will focus on improving connectivity even to remote parts, provide 24/7 electricity and reduce the rural-urban divide by establishing the much-needed infrastructure to boost the sector. 

KDEM aims to attract investment for the IT/ITeS sector, and create 10 lakh jobs by 2025. It hopes to achieve the target by focusing on five verticals of IT products and services, Innovation & Startups, Electronic System Design & Manufacturing, Beyond Bengaluru and Talent Accelerator, Narayan said, adding that KDEM will help the State reach its goal of $150 billion in IT exports and also become a $300-billion economy by 2025.