Karnataka electronic policy welcome steps: ICEA

Welcoming the Karnataka Electronics Manufacturing Policy 2020, the Indian Cellular and Electronics Association (ICEA), on Thursday, said the state government's initiative will help fulfill the goals of the National Policy of Electronics, 2019.

In the Karnataka Electronics Policy, the state has already undertaken various non-fiscal measures such as land and labour reforms along with several initiatives under ease-of-doing-business to attract investments, the ICEA said in a statement.

Karnataka has been a pioneer in innovation and technology with an estimated GSDP of $220 billion. The state is India’s largest chip design hub, with 85 plus chip design companies, as 70% of the nation's chip designers are based here.

"Specific policy incentives such as production linked incentive for new investments as well as the expansion of 1% of annual turnover during the policy period of five years is a welcome and bold step by the State Government," Pankaj Mohindroo, Chairman, ICEA said in a statement.

"Karnataka’s progress is synonymous with our nation’s progress. As the nation’s focus has shifted from import substitution to becoming a global manufacturing hub Karnataka will also have to gear up to be globally competitive and in fact better than the best in terms of infrastructure, ease of doing business, quality of power, and cost etc," Mohindroo added.