Karnataka unveils Engineering R&D policy to generate 50,000 new jobs – ET Government

Karnataka unveils Engineering R&D policy to generate 50,000 new jobs – ET Government

Karnataka unveils Engineering R&D policy

generate 50,000 new jobs

The FutureSkills Prime is a joint initiative by the Union Ministry of Electronics & Information Technology (MeitY) and the IT Industry led by Nasscom.

Pushing further reforms to increase its share to about 45% in India’s Engineering R&D division during the policy period and generate additional 50,000 jobs, the Karnataka government on Tuesday announced the opening of Engineering Research & Development (ER&D) policy-2021.

The new policy, a first of its kind, is the brainchild of Department of Electronics, IT, Bt and S&T, Karnataka Innovation and Technology Society (KITS), and NASSCOM. These agencies were not just involved in drafting the new policy but have also done extensive consultations with all the other participating stakeholders including the representatives of the industry before proposing the final policy.

The new policy looks to attract leading Engineering R&D entities to establish and 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.

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%. Meanwhile, the global Engineering Research and Development industry is expected to reach a spend of $2 trillion by 2025,” the policy draft stated

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 policy draft, to new initiative will 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 ₹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.

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As per state government estimates, Karnataka is at present 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). The new policy aims to retain this position, generation of intellectual property (IPs), and to make this as a skilled knowledge capital.

“Considering this scenario, this policy aims to prepare the state to make use of the future opportunities emanating from this sector,” Karnataka deputy chief minister C N Ashwath Narayan said.

According to Narayan, 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. “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.

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