Karnataka CM lays foundation stone for Bengaluru Life Sciences Park

Bengaluru (Karnataka) [India], July 29 (ANI): Karnataka Chief Minister laid the foundation stone for the Bengaluru Life Sciences Park at the Electronics City here on Wednesday, assuring that the state government would extend all the support required to the Biotechnology sector, a statement from the Chief Minister's Office (CMO) informed.
The statement said that the government would accord importance to the sectors of Information Technology (IT) and Biotechnology (BT), which plays an important role in the economy as well as employment generation.
Quoting the chief minister, the statement further said, "We have already implemented many reforms and an industry-friendly environment has been created. The Bengaluru Life Sciences Park will help expand the perimeter of the state's Biotechnology sector. I am confident that this park will give a unique gift to Bengaluru, which is already known as the BT Capital of India. The government has released a grant of Rs 150 crore towards this project. The park will house more than 150 companies and more than 100 start-ups will be established. This will generate employment for more than 50,000 people and will make a significant contribution to the State's economy."
The statement further said, "Karnataka had made great strides in the field of Biotechnology. At present, there are 380 companies and more than 200 start-ups involved in this sector. Karnataka has a 9 per cent market share in Asia's Biotechnology space while India has a total of around 35 per cent. This percentage should increase significantly in the coming days and the government is ready to extend the required facilities in achieving the same."
Deputy Chief Minister Dr C N Ashwathnarayan, who is also the minister for IT/BT and Science and Technology, in his address, said that time had come for setting up of the Bengaluru Life Sciences Park, which was envisioned 20 years ago.
"The state's BT sector, which has already emerged successful, will be further strengthened through this park. Research and development will take place under one roof. This is becoming a reality by the will of this government," the statement quoted Ashwathnarayan.
"The government has fixed legal hurdles that came in the way of research and innovations. It has set up the 'Karnataka Innovations Authority'. Through 'Invest Karnataka', it has provided an open opportunity for investors. The state government, under the leadership of B S Yediyurappa, has taken effective actions that no other state has taken in the country," the statement further quoted.
The Chief Minister's Political Secretary S R Vishwanath and MLA M Krishnappa also spoke on the occasion. Additional Chief Secretary Dr Ramana Reddy and Bengaluru Life Sciences Park CEO Chirag Purushotham gave details about the project. Karnataka Industrial Technology Institute director Meena Nagaraj, among others were present. (ANI)