TheKarnatakagovernment is all set to host the three-day, 24th edition of Bengaluru Tech Summit (BTS) 2021, from Wednesday. After reviewing preparedness for the event,CN Ashwath Narayan, minister for IT, BT and science & technology, interacted with journalists.
Karnataka has an ambitious roadmap to touch $150 billion in IT exports over the next five years. A McKinsey report said Indias IT sector is expected to touch $300-$350 billion over the next five years, growing 10% a year.
In the next five years, we want to increase it to $150 billion from the current $58 billion. We also want to accelerate IT exports in Mysuru, Mangaluru and Hubbali clusters from 2% to 5% which translates to Rs 50,000 crore over five years from the current Rs 10,000 crore. However, these are pure-play IT Services export numbers, we haven’t factored in GCCs or startups and with that, itll be even bigger. The Indian government plans to become a $1 trillion digital economy, and we want to have a 30%-40% share. If we have to achieve this, we have to accelerate Growth beyond Bengaluru andCovidhas shown us the way.
The Karnataka government has rolled out several initiatives aimed at enhancing the ecosystem in these cities, leading to increase in demand for talent from IT/GCC/ESDM companies in Tier II & III cities. The availability of skilled manpower and cost effectiveness are favourable factors and were well positioned to address business challenges. Favourable labour laws and concessions are top priority and the state has provided a conducive Environment.