Karnataka's Vision 2025-30: Paving the Path to a $1 Trillion Economy

Karnataka's upcoming industrial policy aims to transform the state into a $1 trillion economy. By incorporating feedback from industry experts, the policy will emphasize collaboration, skill gap studies, and community empowerment to align educational initiatives with industry needs and ensure inclusive progress.

Karnataka's vision to transition into a $1 trillion economy moves forward as the state's Minister for Large and Medium Industries, MB Patil, announced the creation of a new industrial policy for 2025-30. Patil, speaking at the 'Transformative Karnataka' event by the American Chamber of Commerce in India (AMCHAM), stated that industry expert feedback would be crucial in framing the policy. The policy aims to be adaptable, permitting amendments in response to changing industry needs.

The minister has called upon industrial leaders across all sectors to cooperate with the government in a bid to enhance infrastructure, skill development, and technological adoption. Stakeholders will be consulted during the policy's formulation process. He highlighted that government agencies will identify skills gaps through comprehensive studies, which will guide the development of training programs aimed at bridging these gaps.

Patil underscored Karnataka's commitment to not just economic advancement but also societal upliftment. He detailed plans to align educational programs with market demands, thus creating opportunities that empower the youth and foster community progress. 'Our ambition is for Karnataka to make strides in inclusive progress, ensuring that industry needs and citizen aspirations are equally met,' Patil added.

(With inputs from agencies.)