Karnataka is hoping to generate investment with a major tech event planned for later this month even as the country and the economy reels under the effects of the coronavirus pandemic.
Prime Minister Narendra Modi, who has been on a drive to encourage investments in India, will inaugurate the Bengaluru Technology Summit or BTS 2020, planned from November 19 to 21.
The PM had spoken at the Virtual Global Investor Round Table - and the Karnataka government hopes for other heads of government to be a part of the state event.
Deputy Chief Minister, Dr Ashwath Narayan, who also handles the IT/BT, Science and Technology portfolio said, "In the backdrop of COVID-19, Bangalore Tech Summit is our most prestigious and the biggest event not just for Karnataka, but for the entire country. Last year there was live interaction with live audience. But this year because of COVID-19, it will be a virtual event. This event will be inaugurated by Prime Minister Narendra Modiji and we are expecting many more heads of countries and companies to be a part of the inauguration."
This is the 23rd edition of the Bengaluru summit - and the first one to be held virtually. The event held last November logged the participation of 21 countries and 253 international delegations with over 12,000 visitors.
Dr Ashwath Narayan said he is hopeful that the summit will generate business for the state and in particular Bengaluru, the country's IT capital.
"We are expecting many good things to happen because in this event we are basically exhibiting our strengths - what has been developed, what solutions are available in Karnataka and in Bengaluru," he said.
"Since we are looking to increase our revenue from the current 52 billion to 300 billion in the next five years, we are expecting many more investments and transactions. Over seven to eight MoUs will be signed at this event. We will add much more strength and collaboration between different countries. The event will be the biggest game changer and we will showcase our strength to the world," he added.
"Access to skilled manpower, access to liquidity, innovation hubs, various ideas from different parts of the world and institutes will make a big difference. The way we do things can change. This conference is about the sharing of ideas," he said.
The summit is expected to host over 270 international speakers.
The state government has also welcomed new initiatives on the IT front from the Centre, with Dr Narayan tweeting: "Our PM @NarendraModi ji's commitment to 'Ease of Doing Business' is exceptional.
These reforms to Other Service Provider (OSP) guidelines will help Bengaluru's globally-renowned BPO/ITeS industry thrive and power Karnataka's goal of being a $500 billion GSDP state."