Karnataka Government targets Rs 40,000 crore investment to boost KHIR City

The Karnataka government is strategically deliberating the development of the KHIR City near Bengaluru, aiming for a significant Rs 40,000 crore investment. This visionary project targets the growth of healthcare, innovation, and knowledge sectors, generating 80,000 jobs. Spanning 2,000 acres within a 60-kilometer radius of Bengaluru, KHIR City's phased development signifies a transformative journey. Shri M. B. Patil, the Minister for Large and Medium Industries, highlighted the diverse gathering's potential to create a distinguished hub of excellence, involving influential figures from government, medical institutes, private companies, research centres, academia, and the Strategic Investment Committee of Karnataka.
Shri Patil expressed confidence in KHIR City's potential to substantially contribute to the state's GDP, aiming for a minimum of Rs 1 lakh crore. Industry leaders from healthcare, education, real estate, finance, and insurance actively contributed valuable insights and recommendations. The envisioned KHIR City aims to attract global investments in healthcare, research, and education, solidifying Bengaluru's status as a key medical tourism hub. Karnataka's existing robust innovation ecosystem and global companies' research units provide an ideal foundation. The initiative aligns with the state's commitment to fostering economic growth and innovation.
Highlighting the significance of the proposed city, Shri Priyank Kharge, the Honorable Minister for IT/BT, and S&T envisioned KHIR City as a ground breaking centre of knowledge uniting innovators from healthcare, knowledge, and global research centres. He anticipated Bengaluru's transformation from a global call centre hub to a prominent global centre for research and innovation. The government also plans to introduce a dedicated policy to promote medical tourism in the state. With Karnataka already hosting 60 percent of India's biotech companies and over 350 medical device and supply manufacturers, the establishment of KHIR near Bengaluru, a rapidly growing global innovation cluster, aligns perfectly with the state's strengths.
The proposed city's establishment draws parallels with global reference points such as Singapore's Biopolis Cluster and Japan's Kobe Biomedical Innovation Cluster. The government, keen on facilitating private participation, offers formats like the land lease model, special-project vehicles, and fully private models to potential stakeholders. Effective collaboration will require a thorough plan, well-defined objectives, timelines, and a balanced approach to ensure active participation from both private and government sectors. The initiative aims not only to create a centre of knowledge and innovation but also to promote job creation, talent development, and knowledge dissemination in regions like Mysuru.
Industry representatives emphasized the importance of swift implementation, suggesting the development of essential infrastructure such as a metro station before the physical manifestation of KHIR City. They also underscored the need to incentivize job creation, focusing on IP-based research to transition Karnataka into a higher-value, IP-based economy. The collaborative effort aims to set Karnataka apart by promoting the creation of intellectual property and fostering a thriving ecosystem that connects start-ups with end-users.
In summary, the creation of KHIR City is set to reshape Bengaluru's global standing by nurturing the advancement of state-of-the-art knowledge institutions, healthcare facilities, innovation hubs, and research centres. The government's commitment to promoting a conducive environment for innovation, research, and economic growth positions Karnataka as a leader in India's economic landscape.

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Karnataka Government targets Rs 40,000 crore investment to boost KHIR City

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