“Karnataka contributes 22% to Global R&D, Driving Innovation and Progress Pan India” says IT Minister at CII’s 1st Edition of R&D Conclave

Bengaluru, 19 June 2024: “Karnataka is at the forefront of global innovation, contributing 22% to global R&D, and is leading in exports, FDI, and technology services. With over 250 colleges, 44 Universities, and 25,000 start-ups, We are the R&D and innovation capital. Our commitment to industry-friendly policies and continuous investment in Science, Technology, and Education drives sustainable growth and better standards of living. We are proud to lead India and impact the global arena,” said Mr Priyank Kharge, Hon’ble Minister for IT & Biotechnology & Rural Development & Panchayati Raj, Government of Karnataka, at the 1^st Edition of CII Karnataka’s R&D Conclave held in Bengaluru today.

 We can create great outcomes by igniting the spark of connections and nurturing a culture of innovation. By augmenting resources and leveraging our deep understanding of customers and markets, we can develop valuable solutions. Building the right infrastructure and fostering new partnerships are key to establishing new stages of collaboration and transitioning to groundbreaking new products,” said Mr Ramesh Ramadurai, Past Chairman, CII Karnataka & Managing Director 3M India.

  Mr Rabindra Srikantan, Vice Chairman, CII Karnataka State Council & Founder and Managing Director, ASM Technologies Ltd pointed out, “India, with its dynamic growth, is on the fast track to becoming a global powerhouse of talent and innovation. I envision transforming our academic and digital talent into a global innovation hub. With 40% of the Global Capability Centers (GCC) in Bengaluru and significant contributions from the AI and private sectors, we are poised to scale new heights.”.

Mr Mallavarapu Apparao, Convenor, CII Karnataka Technology & Innovation Panel & Chairman & Managing Director. Centum Electronics stated, ”Innovation and collaboration are essential for driving progress in our growth ecosystem. Innovative policymakers can pave the way for strategic and sustainable growth. R&D collaboration between industry and academia plays a vital role, especially for startups that thrive on agility. R&D isn’t just about product innovation; it fosters impactful and scalable outcomes that help us navigate rapid changes effectively,”.

Mr Pavan Ranga, Co Convenor, CII Karnataka R&D Conclave & Managing Director & CEO of Rangsons Aerospace highlighted the critical role of Research and Development (R&D), emphasizing its importance in driving innovation and progress. He underscored the immediate business imperative of R&D in fostering a product-focused mindset and innovation. “This approach lays a robust foundation for advancing R&D innovation and product development, ensuring relevance and impact in today’s dynamic market,” he added.

Leading industries and institutions including Innovate Karnataka, K-tech & Startup Karnataka; ASM Technologies Ltd; 3M India Ltd; Kanara Consumer Products Ltd; Centum Electronics Ltd; Mphasis Ltd; Rangsons Aerospace; shared and showcased their insights which was attended by over 150 industry CXO’s and stakeholders across sectors.