Electronics gets attention in the Karnataka's new IT incentives

The growth path of IT industry in Karnataka and more specifically in Bangalore is only looking better and wider. After witnessing phenomenal growth in last two decades, IT continues to grow its share both in revenue and job creation, better than any other industry in Karnataka and any other state in IT sector. From 1.9 lakh direct jobs in 2001, IT sector now offers close to 10 lakh direct jobs in Karnataka, more than the employment provided by state government. The future looks to be even brighter. Department of Information Technology, Government of Karnataka plans to double the job creation by IT by 2020, a 20 lakh direct jobs by 2020 is the target. Government of Karnataka has announced new attractive incentives to put the IT sector on fast-track of growth. Unfortunately there is not much electronics product manufacturing in Bangalore and Karnataka compared to what is happening in software development and services for business and other applications. With much of the electronics hardware such as computer, tablet and smart phones are getting imported creating imbalance in trade, Government of India is promoting electronics manufacturing in big way. In line with that initiative, Government of Karnataka started giving some incentives to electronics system design and manufacturing (ESDM) also which comes under of Department of Information Technology. Below incentives for...