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Searched Tag: karnataka economy
The bill, which mandates a significant reservation for Kannadigas in private sector jobs, was initially approved by the state Cabinet but faced immediate backlash from industry leaders and the public.

Siddaramaiah's quota plan: A threat to the IT sector?

July 18, 2024, 07:32 PM - 2 min read

Critics, including prominent industry figures like Biocon’s Kiran Mazumdar Shaw, argue that such quotas could stifle the growth of Karnataka's thriving IT sector and are discriminatory. The concerns are not without merit. The IT sector in Karnataka, particularly in Bengaluru, has flourished due to its cosmopolitan nature and the ability to attract talent from across the country and the world. Imposing stringent local hiring quotas could deter investment and hamper the sector’s competitiveness.

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Karnataka Chief Minister Siddaramaiah announced on Wednesday that the state aims to achieve an annual industrial growth rate of 15-16% to become a USD 1 trillion economy by 2032.

Karnataka aims for 15% growth, $1 Trillion economy

June 20, 2024, 01:14 PM - 2 min read

Speaking at the curtain-raiser for the upcoming Global Investor Meet, "Invest Karnataka 2025," scheduled for February, Siddaramaiah highlighted the state's growth rate of 9.3% over the last decade. He emphasized the government's plan to extend industrial development beyond urban centers, focusing on rural areas like Kalyana Karnataka through targeted cluster development initiatives.

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