(MENAFN- IANS) Bengaluru, Nov 18 (IANS) Karnataka Chief Minister Siddaramaiah on Tuesday said the state's rise as a technological powerhouse is not accidental, and claimed that clear government policies, seamless approvals, skilled human resources, robust infrastructure and a supportive ecosystem have made it the most trusted investment destination in India.

After inaugurating the 28th edition of the Bengaluru Tech Summit, he said, "The event marked a historic milestone with the formulation of three major policies - the Karnataka IT Policy 2025–2030, the Space Technology Policy 2025–2030, and the Startup Policy 2025–2030."

"The data-driven and technology-forward Karnataka IT Policy aims to make the state a global hub for innovation and deep-tech. The Space Technology Policy 2025–30 will support the government's goal of transforming Karnataka into India's leading space-technology centre by 2034. The new Startup Policy aims to support the establishment of 25,000 startups over the next five years through funding support, market access, infrastructure and skill development," he stated.

Bengaluru has long been known as India's Silicon Valley, but today, it has grown into a global centre of innovation, talent, research and technological leadership, the Chief Minister said.

He noted that the state is home to 85 universities, 243 engineering colleges and nearly 1,800 ITIs.

The state's unemployment rate is just 4.3 per cent, reflecting high productivity and strong job creation, the Chief Minister said.

Bengaluru is home to leading institutions such as IISc, IIM-B, IIIT-B, NCBS, JNCASR, NIMHANS, DRDO labs, ISRO centres and several world-class private universities - creating and nurturing an unmatched intellectual ecosystem.

The Chief Minister said he was proud that the Bengaluru Tech Summit, being held in the city for three decades, has drawn global attention to Karnataka by fostering international collaboration, innovation and new technological breakthroughs.

The Chief Minister said the Summit is more than just a conference - it is a platform for new ideas, discussions, investment opportunities, innovation and transformative change.

"I hope this three-day summit serves as a global platform for meaningful opportunities and marks the beginning of a new chapter," he said.

The summit, themed 'Futurise: Shaping the Unknown, Measuring the Unimaginable, and Moving the World Forward', reflects the collective aspiration for the future, he said.

Karnataka contributes 42 per cent of India's IT exports valued at more than Rs 3.2 lakh crore and is growing at about 27 per cent every year. The state hosts over 550 Global Capability Centres (GCCs) - one-third of India's total, he stated.

He invited investors to explore Karnataka for Research and Development, startups, academic research and all sectors of investment.

Calling on investors to tap the vast opportunities in AI, quantum technology, biotechnology and space technology, he urged everyone to work together for human progress.

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