Karnataka govt to establish 3 dedicated global innovation districts: CM Siddaramaiah
Bengaluru (PTI): Karnataka Chief Minister Siddaramaiah on Tuesday announced that the State government would establish three dedicated global innovation districts in Bengaluru, Mysuru and Belagavi.
"These will be dedicated parks for GCCs (Global Capability Centres) to set up shop here in the state," he said after inaugurating the 27th edition of Bengaluru Tech Summit (BTS) here.
He noted that the State had recently launched India's first dedicated Global Capability Centres (GCC) policy, aimed at empowering and supporting these centres.
The three-day tech conclave is organised by the State government's Department of Electronics, IT and BT, with Australia being the official country-partner for the event.
The Chief Minister said the Bengaluru Global Innovation District will be part of the Knowledge, Well-being, and Innovation City (KWIN City), which will serve as a global hub for innovation and research.
"Our state is a preferred destination for GCCs, thanks to its unmatched engineering talent and the highest number of AI professionals globally. This will further be strengthened by our initiatives under 'NIPUNA Karnataka' which will be a program designed to create
industry-ready workforce," he said.
Talking about the five MoUs signed at the tech summit with Microsoft, Intel, Accenture, IBM and BFSI Consortium, he said: "They are going to skill one lakh individuals in the state of Karnataka."
"Through a cluster-based approach, we are driving balanced regional growth, from Mangaluru's fintech leadership and Hubballi-Dharwad's advancements in EVs (electric vehicles) and drones - to Mysuru being a PCB (Printed Circuit Board) cluster," Siddaramaiah said.
"We are tailoring policies and infrastructure to harness regional strengths and attract investments to emerging clusters also along with our focus on Bengaluru," he said.
Stressing that the government has made significant investments in physical and digital infrastructure to bolster tech-driven sectors, the Chief Minister said, "Initiatives like the 'Namma Grama Namma Raste' program for rural connectivity and the Special Development Program are enhancing accessibility and economic opportunities across Karnataka."
"We believe in extending the benefits of growth beyond the tech sector through programs like ‘Beyond Bengaluru,’ which bring technology to rural areas, increase agricultural productivity, and improve e-education for students and positively impact delivery of all citizen services," he said.
Siddaramaiah noted that Karnataka’s startup ecosystem has seen remarkable growth, with an 18.2 per cent increase from 2022 to 2023, totaling 3,036 startups and making the state a leader with 8.7 per cent of India’s total startups.
"This success reflects our strong support and vibrant opportunities for entrepreneurs. Our collaboration with the Indian Venture and Alternate Capital Association (IVCA) has connected more than 200 startups with 100 funding firms, providing capital, mentorship, and growth opportunities," he said.
The Chief Minister also said an Electronics Manufacturing Cluster (EMC) would be set up in Kochanahalli near Mysuru, which will strengthen Karnataka’s role in the global semiconductor industry, creating jobs and driving economic growth in both urban and rural regions.
According to officials, BTS 2024 is hosting delegations from over 15 countries, including the USA, Australia, the UK and France. These high-level delegations, featuring government officials, industry leaders, and innovators, will enrich the summit with diverse perspectives and collaborative opportunities, they said.
The summit features a multi-stage conference across six tracks: IT, Deep tech and Trends, Biotech and Health Tech, Startup Ecosystem, Global Innovation Alliance, India-USA Tech Conclave, and the newly introduced Electro-Semicon track, officials added.
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Air India resorts to cost-cutting ways amid 'tough times'; layoffs not anticipated
New Delhi/Mumbai (PTI): Hit hard by Pakistan airspace closure and Iran war, Air India has resorted to cost-cutting measures, including holding back annual increments for staff and asking them to cut discretionary spending as well as non-critical expenditures, warning of "tough times".
On Friday, Air India Chief Executive Officer & Managing Director (CEO & MD) Campbell Wilson told the staff it is going to be a "very, very difficult year" if things don't improve on the Middle East front.
A day after the loss-making airline's board discussed various cost-saving steps, Wilson, along with Chief Financial Officer (CFO) Sanjay Sharma and Chief Human Resources Officer (CHRO) Ravindra Kumar GP, addressed the employees during a townhall on Friday where the emphasis on the need to keep a close watch on costs.
With higher jet fuel prices due to the West Asia conflict and airspace curbs, the loss-making airline's expenses have spiralled in recent times and against this backdrop, Sharma also told staffers that FY26 has seen a softening in revenue amid heightened external uncertainties.
Calling for a relentless focus on costs in these tough times, Wilson urged employees to suspend discretionary spending, renegotiate rates where feasible, and defer non-critical expenditures.
"There must be a laser-sharp focus on eliminating wastage and leakages," he said.
Stressing the need to tighten the belt for a while, Wilson sounded optimistic that travel demand would rebound and the industry would continue on its upward path.
CHRO Ravindra Kumar told staff that the airline will proceed with variable pay for the last financial year and continue with planned promotions while noting that annual increments will be deferred by at least one quarter.
"We don't anticipate layoffs," he said.
At the airline's board meeting on Thursday, various cost-saving steps, including likely furloughs, were discussed. The Tata Group-owned airline has around 24,000 employees.
Generally, furlough refers to sending staff on unpaid leaves by companies during a tough financial situation.
During the townhall, CFO Sanjay Sharma said while strong revenue growth and fleet expansion drove financial momentum through FY25, FY26 has seen a softening in revenue amid heightened external uncertainties.
Air India has seen around 40 per cent CAGR (Compounded Annual Growth Rate) in revenue between 2022 and 2025, he added.
The airline was acquired by the Tata Group from the government in January 2022.
The Air India CEO mentioned the external challenges being facing the aviation industry as a whole, including the continued closure of Pakistan airspace that is expected to persist for the foreseeable future and geopolitical conflicts leading to disruptions and airspace closures across West Asia.
Wilson, who is set to step down later this year, also flagged a sharp depreciation of the rupee and a 2.5-3 times increase in jet fuel prices, and added that these factors have adversely affected travel sentiment and consumer confidence, as per the sources.
If the Strait of Hormuz opens, oil prices fall and consumer as well as business confidence come back, there is a decent chance of a solid recovery, Wilson said, adding that unless those circumstances happen, it was going to be "a very, very difficult year".
"I feel somewhat responsible that we ended up with probably the biggest surprise of the year in the external environment which was a full-scale war in our neighbouring region in the Gulf. That has had a huge impact on airspace," he said.
For Air India, Wilson said the situation is compounded by the fact that the airline cannot fly over the neighbouring country and has to take a much longer routing for any west-bound destination.
"Every airline is reporting that they are under some sort of financial pressure as a result of higher fuel prices and economic uncertainty. So, it is unfortunately not a great environment to be running an airline," the Air India CEO said.
The Air India Group -- Air India and Air India Express -- is projected to have incurred more than Rs 22,000 crore loss in the financial year ended March 2026.
At the townhall, Wilson also highlighted various initiatives, including completion of the retrofit of its legacy narrow-body aircraft and rapid network optimisation to redeploy capacity more efficiently.
