From Our Special Correspondent
Daijiworld Media Network
Bengaluru, Jul 29: Karnataka chief minister B S Yediyurappa promised the state government’s full support to the Biotechnology sector, which is the power of the state’s economy.
Laying the foundation stone for establishing the Life Sciences Park in Bengaluru on Wednesday, he said the government will also take necessary steps to ensure that Karnataka emerges as the ‘BT Hub'.
Speaking after laying the foundation stone for the Bengaluru Life Sciences Park at Electronics City, the chief minister said the government will accord top priority to Information Technology and Biotechnology sectors as they play an important role in the economy as well as spur employment generation.
“We have already implemented many reforms and an industry-friendly environment has been created. We shall give more importance to commerce and industry,” the chief minister said.
“The Bengaluru Life Sciences Park will help in expanding the perimeter of the state’s Biotechnology sector. I am confident that this park will give a unique gift to Bengaluru, which is already known as the BT capital of India," he said.
Yediyurappa said the state government has released a grant of Rs 150 crore towards the Life Sciences Park project.
The park will house more than 150 companies and more than 100 start-ups will be established. This will generate employment for more than 50,000 (direct and indirect) people. This project will make a significant contribution to the state’s economy, he said.
“Karnataka has made great strides in the field of Biotechnology. At present, there are 380 companies and more than 200 start-ups involved in this sector. Karnataka has 9% market share in Asia’s Biotechnology space while India has a total of around 35%. This percentage should increase significantly in the coming days and the government is ready to extend the required facilities in achieving the same,” he mentioned.
Deputy chief minister, Dr C N Ashwathnarayan, who is also the minister for IT/BT & Science and Technology, said the time has come for setting up of the Bengaluru Life Sciences Park, which was envisioned 20 years ago.
“The state’s BT sector, which has already emerged successful, will be further strengthened through this park. Research and development will take place under one roof. This is becoming a reality by the will of this government. Once the project gets completed, Bengaluru’s prestige will go up on the world map,” he said.
Dr Narayana explained that there are a lot of opportunities in the Biotechnology sector. It has a strong influence on major sectors such as industry, agriculture, health etc.
Keeping the immense potential and opportunities in mind, the state government has implemented various reforms. It has also taken several bold entrepreneur-friendly steps to support the sector. In addition, the government has worked towards creating an investor-friendly atmosphere in the state by bringing amendments to the Land reforms Act, APMC Act and relaxing several Rules, the deputy chief minister said.
Further, the government has fixed legal hurdles that came in the way of research and innovations. It has set up ‘Karnataka Innovations Authority’. Through ‘Invest Karnataka’, it has provided an open opportunity for investors. The state government has taken effective actions that no other state has taken in the country.
Chief minister’s political secretary S R Vishwanath and MLA M Krishnappa spoke on the occasion. Additional chief secretary, Dr Ramana Reddy and Bengaluru Life Sciences Park CEO, Chirag Purushotham gave details about the project. Karnataka Industrial Technology Institute director, Meena Nagaraj and others were present.