Karnataka unveils Global Innovation Parks and GCC Policy, aim to create 350,000 jobs, contribute $50B to economy

In a significant boost to Karnataka's tech and manufacturing landscape, Chief Minister Siddaramaiah inaugurated the 27th Bengaluru Technology Summit 2024, unveiling a bold roadmap to enhance the state’s global standing.

Key announcements included the establishment of Global Innovation Parks in Bengaluru, Mysuru, and Belagavi, and the launch of India’s first Global Capability Centres (GCC) Policy. These parks aim to attract leading GCCs and foster innovation, cementing Karnataka's position as a top destination for tech enterprises.

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The GCC Policy targets the creation of 350,000 jobs and aims to contribute $50 billion to the state economy over five years by facilitating the growth of 500 GCC units.

To decentralise growth, Karnataka will develop specialised tech hubs: Mangaluru as a fintech hub, Hubballi-Dharwad for electric vehicles, and Mysuru for drone innovation. Additionally, the government announced a Centre of Excellence in Artificial Intelligence in Bengaluru, spearheaded by IIT Alumni Centre Bengaluru and the state.

Deputy Chief Minister D.K. Shivakumar introduced the ‘Nipun’ skill development program, aiming to train 100,000 youth annually in collaboration with global tech leaders like Microsoft and Intel.

The event celebrated industry icons and released the Bengaluru Data Report, offering insights into the city’s evolving tech ecosystem. Leaders like IT Minister Priyank Kharge and Skill Development Minister Dr. Sharan Prakash Patil were among the dignitaries present.

These initiatives underscore Karnataka’s vision of balanced and inclusive tech-driven growth.