Bengaluru Life Sciences Park will raise city’s prestige: DCM
BENGALURU:
Chief Minister B S Yediyurappa on Wednesday assured all support for the biotechnology sector, with a view to making Karnataka the ‘BT hub’ of the country.
He was speaking after laying the foundation stone for the Bengaluru Life Sciences Park at Electronics City.
“The Bengaluru Life Sciences Park will help in expanding the state’s biotechnology sector. I am confident that this park will give a unique gift to Bengaluru, which is already known as the BT capital of India. The state government has released a grant of Rs 150 crore towards this project. The park will house more than 150 companies and more than 100 start-ups will be established. This will generate employment for more than 50,000 (direct and indirect) people. This project will make a significant contribution to the state’s economy,” Yediyurappa said.
“Karnataka has made great strides in biotechnology. At present, there are 380 companies and more than 200 start-ups in this sector. Karnataka has a 9% market share in Asia’s biotechnology space while India has a total of around 35%. This percentage should increase significantly in the coming days and the government is ready to extend the required facilities in achieving the same,” he said.
Deputy Chief Minister Dr C N Ashwath Narayan, who is also the minister for IT/BT & Science and Technology, said the Bengaluru Life Sciences Park had been envisioned 20 years ago. “The state’s BT sector, which is already successful, will be further strengthened through this park. R&D will take place under one roof. Once the project gets completed, Bengaluru’s prestige will go up on the world map,” he said.
“There are a lot of opportunities in the biotechnology sector. It has a strong influence on major sectors such as industry, agriculture, health, etc. Keeping this in mind, the government has implemented various reforms. It has also taken several entrepreneur-friendly steps to support the sector. In addition, the government has worked towards creating an investor- friendly atmosphere in the state by bringing amendments to the Land Reforms Act and the APMC Act, and relaxing several rules,” the Deputy Chief Minister said.
“Further, the government has fixed legal hurdles that came in the way of research and innovations. It has set up a ‘Karnataka Innovations Authority’. Through ‘Invest Karnataka’, it has provided an open opportunity for investors,” the DCM said.
The Chief Minister’s Political Secretary S R Vishwanath and MLA M Krishnappa spoke on the occasion. Additional Chief Secretary Dr. Ramana Reddy and Bengaluru Life Sciences Park CEO Chirag Purushotham gave details about the project. Karnataka Industrial Technology Institute director Meena Nagaraj was among those present.
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