<p>Bengaluru: Anticipating disruption from Artificial Intelligence (AI) and automation, Karnataka has asked enterprises investing Rs 50 crore to create a minimum of 25 jobs in order to receive incentives under the government’s new industrial policy.</p><p>“Due to advancements in Artificial Intelligence as well as industry focus on automation to increase productivity, minimum employment thresholds have been rationalised,” the Industrial Policy 2025-30, which aims to create 20 lakh new jobs, states.</p><p>According to the policy document, the minimum investment for a large enterprise must be Rs 50 crore and it must create at least 25 jobs.</p><p>Similarly, a mega enterprise with a minimum investment of Rs 300 crore must have 150 jobs. An ultra mega enterprise with a minimum of Rs 1,000 crore should create 500 jobs. Ultra mega projects should also create additional six jobs for every Rs 50 crore.</p>. <p>Under the previous Industrial Policy 2020-25, large enterprises were asked to create 50 jobs for a minimum Rs 50 crore investment.</p><p>Meeting the new minimum employment thresholds is necessary for enterprises to avail capital expenditure subsidy or production-linked incentives.</p><p>“AI and automation...that’s the reality. AI will play a role everywhere...in the areas of medical equipment, smartphones, chipmaking and so on. Robots will replace human beings,” Industries Minister M B Patil told <em>DH</em>, adding that there were even robot masseuses. Patil, however, added that it was “too early” to speculate how AI would impact jobs.</p>.Rapid AI development outpacing regulation: Gartner study.<p>At the recent Invest Karnataka summit, Google X cofounder Sebastian Thrun uged youngsters to prepare themselves for AI. “Approximately 60% of current jobs may disappear,” Thrun said at the summit, according to a statement. “But far more new jobs will emerge as a result of AI and other technologies.” </p><p>Thrun, who led the development of Google’s driverless car, also said that AI’s rise would lead to a shift in job types. “Those who adapt will find new career prospects in fields that are currently emerging,” he said.</p><p>The new Industrial Policy also offers incentives to enterprises that employ more women. Enterprises with 50%, 60% and 70% women in workforce will get incentive boosters of 7.5%, 10% and 15%, respectively. </p><p>“Such measures are expected to contribute significantly to the state’s social and economic objectives, making it a model for gender inclusiveness in industrial development,” the policy states.</p>
<p>Bengaluru: Anticipating disruption from Artificial Intelligence (AI) and automation, Karnataka has asked enterprises investing Rs 50 crore to create a minimum of 25 jobs in order to receive incentives under the government’s new industrial policy.</p><p>“Due to advancements in Artificial Intelligence as well as industry focus on automation to increase productivity, minimum employment thresholds have been rationalised,” the Industrial Policy 2025-30, which aims to create 20 lakh new jobs, states.</p><p>According to the policy document, the minimum investment for a large enterprise must be Rs 50 crore and it must create at least 25 jobs.</p><p>Similarly, a mega enterprise with a minimum investment of Rs 300 crore must have 150 jobs. An ultra mega enterprise with a minimum of Rs 1,000 crore should create 500 jobs. Ultra mega projects should also create additional six jobs for every Rs 50 crore.</p>. <p>Under the previous Industrial Policy 2020-25, large enterprises were asked to create 50 jobs for a minimum Rs 50 crore investment.</p><p>Meeting the new minimum employment thresholds is necessary for enterprises to avail capital expenditure subsidy or production-linked incentives.</p><p>“AI and automation...that’s the reality. AI will play a role everywhere...in the areas of medical equipment, smartphones, chipmaking and so on. Robots will replace human beings,” Industries Minister M B Patil told <em>DH</em>, adding that there were even robot masseuses. Patil, however, added that it was “too early” to speculate how AI would impact jobs.</p>.Rapid AI development outpacing regulation: Gartner study.<p>At the recent Invest Karnataka summit, Google X cofounder Sebastian Thrun uged youngsters to prepare themselves for AI. “Approximately 60% of current jobs may disappear,” Thrun said at the summit, according to a statement. “But far more new jobs will emerge as a result of AI and other technologies.” </p><p>Thrun, who led the development of Google’s driverless car, also said that AI’s rise would lead to a shift in job types. “Those who adapt will find new career prospects in fields that are currently emerging,” he said.</p><p>The new Industrial Policy also offers incentives to enterprises that employ more women. Enterprises with 50%, 60% and 70% women in workforce will get incentive boosters of 7.5%, 10% and 15%, respectively. </p><p>“Such measures are expected to contribute significantly to the state’s social and economic objectives, making it a model for gender inclusiveness in industrial development,” the policy states.</p>
