‘State aiming for 2,000 ESDM startups by 2022’
The Karnataka government aims to stimulate the growth of 2000 ESDM (Electronics System Design and Manufacturing) startups by 2022 and create 20 lakh jobs by 2025, said Deputy Chief Minister C.N. Ashwath Narayan, who is also the Minister for Electronics, IT/BT and S&T.
According to a release, participating in an event organised by the Indian Electronics Semiconductors Association (IESA) to present awards to ‘technovation’ winners of the ESDM sector on Monday, he expressed confidence that the target could be achieved through skill development, quality infrastructure, ecosystem support, encouragement to startups, and ease of doing business.
The Indian ESDM industry is one of the fastest-growing sectors in the country and has the potential to play a huge role in the nation’s economic recovery. Accordingly, the Central government has instituted forward-looking policies to foster the growth of the Indian electronics ecosystem, he said, adding that the State contributes 64% towards India’s ESDM exports and 10% to India’s electronic industrial output. Karnataka is India’s largest chip design hub. Nearly 70% of India’s chip designers are based in the State, he said.