Bangalore, Jan 18 (PTI) Karnataka Government todayapproved new IT and Electronic Hardware policies to givefurther fillip to the growth of these sectors, which accountfor 20 per cent of the State Gross Domestic Product.
The new IT Policy 2011 envisages promotion of theinformation technology industries and innovative parks in TierII and III cities, Minister for Higher Education V S Acharyatold reporters after a cabinet meeting that approved thedevelopment.
Karnataka, considered the IT hub of the country, hasachieved Rs 75,000 crore worth exports in software this year,Acharya said.
The government also approved the Karnataka ElectronicsHardware Policy and earmarked Rs 25 crore as budgetaryallocation for its implementation.
Acharya said the state plans to develop four ElectronicHardware parks in the clusters of Bangalore-Tumkur,Shimoga-Hassan, Hubli-Dharwad and Mysore-Nanjangud.
About 500 to 1,000 acres of land has been identified forthe establishment of each of the parks, the minister said.
In a major policy decision, the cabinet decided towithdraw tax exemption granted to tertiary sector activitiesin the Export Oriented SEZ located in the city.
The tax concession will now be available only to unitsthat engaged in production of export oriented products,Acharya said.