Karnataka CM Siddaramaiah Unveils Revised Draft Biotech Policy And AVGC-XR Policy At Bengaluru Tech Summit
Karnataka Chief Minister Siddaramaiah on Wednesday introduced a revised draft Biotech Policy for the state at the Bengaluru Tech Summit 2023. The new policy, aimed at propelling advancements in biotechnology, comes more than two decades after the state's initial foray into the sector with the introduction of the Biotech Policy in 2001.
During his address, CM Siddaramaiah expressed enthusiasm about the state's commitment to fostering biotechnological innovations. "As we continue to champion advancements in biotechnology, I'm thrilled to announce that a revisal biotech policy is set to be unveiled at the Bengaluru Tech Summit," he said.
Speaking at the event, Kiran Mazumdar-Shaw, Executive Chairperson of Biocon Limited and Biocon Biologics Limited, lauded Karnataka's contribution in biotech, revealing that the state presently contributes 40 per cent to India's burgeoning biotech sector, which is approaching USD 80 billion.
Further, Mazumdar-Shaw expressed optimism about India's biotech sector reaching the USD 150 billion milestone by 2030. She also emphasised on Karnataka's pivotal role in achieving this target.
"Karnataka is home to some of the largest biopharma companies. It is home to some of the most exciting startups in cutting-edge areas," she added.
The biotech moghul also highlighted the evolving landscape of technology and asserted, "[...] Bangalore and Karnataka are certainly going to be the most preferred destinations when it comes to investing in cutting-edge data analytics, data science, AI-based technological development. And I think biotech is going to take the lead in this technological conversion as well."
CM Siddaramaiah also introduced an AVGC-XR (Animation, Visual Effects, Gaming, Comics and Extended Reality) policy for Karnataka. This policy aims to boost the state's presence in the vibrant world of animation, gaming, and extended reality, aligning with the global trends in the entertainment and technology industries.
Also Read: Karnataka’s AVGC-XR Policy To Generate 30,000 Jobs, Boost Exports By 80% In Sector
