In order to promote economic growth in Karnataka, experts suggest that the state must utilize its strengths in encouraging startups and innovation towards a green future. The Indian Institute of Management Bengaluru (IIMB) and Confederation of Indian Industries (CII) recently collaborated to create a report titled Karnataka@100: A Vision Document for 2047 to provide suggestions on the future of the state from economic and management standpoints. The report highlights that while Karnataka has made significant socio-economic progress since India’s independence in 1947, the state’s economic growth has led to unique challenges, especially concerning sustainability and climate change.
To address this issue, the report suggests that Karnataka should take advantage of its strengths in entrepreneurship, innovation, biodiversity, and heritage to spearhead a path towards equitable and harmonious growth facilitated by a green ecosystem. This would set an international benchmark, especially for the Global South, and not just India. The report emphasizes on the need to balance the economic growth geographically so that it can benefit the whole state and enable the state to tackle issues of sustainability and climate change.
The report has been authored by numerous experts, including Prof Jitamitra Desai, Prof. Anil B Suraj, and Prof. Shanker Subramoney, who have recommended that Karnataka utilize its prowess with startups and innovation to drive its economic growth. The experts advocate for a future led by green entrepreneurship, and they encourage the state to invest in environmental sustainability as it moves towards a more prosperous future.
It is projected that Karnataka must prioritize initiatives that will address issues brought about by its growth as it moves ahead. By integrating its strengths in entrepreneurship and innovation, the state can position itself as a leader in green growth, which will generate opportunities for its citizens and enhance the state’s socio-economic development. The report, which will be released on Monday, will provide useful insights for policymakers and decision-makers to create a path towards sustainable economic growth and development.
