World’s 4th Largest Technology Cluster in Bengaluru
Knowledge, research and innovation hub of Asia, with high-end R&D centres of over 400 MNCs Karnataka is the IT hub of India and home to the world’s fourth-largest technological cluster. The state has over 3,500 IT companies that contribute over $ 32 bn in exports, employs over 1 mn professionals and creates 3 mn indirect jobs. Karnataka is India’s largest software exporter, second largest chip design hub, fourth largest automobile producer and fourth largest contributor to electronic industrial output. It is also a leader in exports of readymade garments, gems and jewellery, petrochemicals and engineering goods from the southern region of India. Bengaluru, the state’s capital, has a very strong cluster of IT and biopharmaceutical companies.
The state also has the second fastest growing start-up ecosystem in the world and is home to billion-dollar Indian start-ups. It is expected to be the largest IT cluster globally by 2020, employing around 2 mn professionals. Besides being a top software exporter, the state also stands fourth in merchandise exports in the national export basket. Exports from the state stood at around $ 82 bn in 2016-17, which is about 18.8% of India’s total exports. The state stands fourth among Indian states in terms of FDI inflows, attracting close to $ 29 bn between 2000 and 2017.
Karnataka is well connected to all major markets with 2 international airports, 264,639 km of the total road network and 3,281 km of the rail network. The state has a coastline of 300 km with 12 minor ports and one major port at Mangalore. The total installed power capacity in the state stands at 22,290 MW.