The Karnataka government on Tuesday launched the Engineering Research & Development (ER&D) policy-2021 which will create about 50,000 new jobs and also help the state to contribute about 45% to India’s Engineering R&D during the policy tenure.
The five sectors that have been prioritised in the policy include aerospace and defence; auto, auto components and EV; biotechnology, pharma and medical devices; semiconductors, telecom, ESDM; and software products.
Here are a few things that have been highlighted in the policy
- The investments offered under the policy include-
1) rental reimbursement for setting up/ expanding in beyond Bengaluru urban district.
2) recruitment assistance for setting up/ expanding in beyond Bengaluru urban district.
3) 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% 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% women candidates and consider 30% of the total interns into full-time employment, it 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 augmenting capacity by bridging the gap between engineering/ research talent and industry’s technology needs, the release said.
The policy has been drafted by the Department of Electronics, IT, Bt and S&T, Karnataka Innovation and Technology Society (KITS), and NASSCOM after wider consultations with all the other participating stakeholders including the representatives of the industry.
Deputy Chief Minister C N Ashwath Narayan said: “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.”
“Considering this scenario, this policy aims to prepare the state to make use of the future opportunities emanating from this sector.”
(With inputs from agencies)