Karnataka seeks to double agri sector’s contribution to GSDP by 2025
Karnataka has set itself a target to increase the share of agriculture in the GSDP (Gross State Domestic Product) to 30% by 2025, from 16% currently, according to the Deputy Chief Minister C.N. Ashwath Narayan.
He said the State has the mandate to grow its GSDP from the current $230 billion to $1 trillion in the next five years, in order to contribute to the national GDP target of $5 trillion by 2025.
“The technology sector has contributed to the huge growth of the State’s economy and going forward, both technology and agriculture sectors are going to drive the next wave of growth in Karnataka,” he told The Hindu.
Agriculture and allied activities already support 50-60% of the State’s population. “We see great revenue potential in food processing and agri-ventures connected to value-addition. There is a huge domestic and international market for processed food products. Such a focus will greatly increase our farmers’ incomes and will also enhance the overall living conditions of millions of people engaged in farming and allied activities in the state,” he added.
Karnataka had already spoken about its ambitious growth target of taking its mainstay business — software and information technology services/products — to $300 billion in five years from $52 billion as of March 2020.
Earlier, at a virtual conference, Mr. Narayan, who also holds the IT, BT, and Science and Technology portfolios announced the 23rd edition of the State’s tech exposition, Bengaluru Tech Summit. He said despite the challenges brought by the pandemic, the tech industry remained unaffected and the three-day annual tech show would be conducted as a virtual event. It’s scheduled to be inaugurated by Prime Minister Narendra Modi on November 19.
“We are currently the Silicon Valley of the East. However, we have a larger IT and startup community than Silicon Valley, California. And it is a matter of time we emerge in terms of value as well,” the Deputy CM added.
Kiran Mazumdar-Shaw, Executive Chairperson, Biocon Limited and Chairperson, Karnataka Vision Group on Biotechnology, said the pandemic has brought a lot of attention on what biological sciences have to offer to the world.
“We have made huge inroads into the delivery of telehealth with the help of digital technology. There has been an accelerated adoption of technology in biological sciences, healthcare and research and development of vaccines and pharma products. Now we are exploring CRiSPR technologies to use them as a tool for editing genomes, in diagnostics and creating cutting edge solutions.”
S. Gopalakrishnan, Co-Founder, Infosys, Chairman of Axilor Venture, and Chairman, Karnataka Vision Group on Information Technology said, “IT industry is a bright spot during this COVID-19 crisis and BTS gives the industry an ideal platform to showcase its new solutions.”