BANGALORE : Information technology (IT) and Karnataka continue their long standing love affair.
The Karnataka government said on Friday that 175 new companies invested in the IT and ITeS sector in the year ended March 2014, a growth of 59% over the previous year.
The investment (excluding real estate costs) that these new companies poured into the southern state was $1.4 billion (Rs 8,615 crore), generating direct employment of 5.5 lakh people.
"The investment figures are just the interim numbers. We expect the final value to be much higher," said Srivatsa Krishna, secretary IT & BT, Karnataka government. He added that the numbers didn't include businesses such as animation, special effects, graphics and bioinformatics, which are all related to the IT industry.
In 2012-13, 110 new companies invested in the IT/ITeS sector, pouring in $1.25 billion and generating employment of 4.7 lakh people. The growth in employment generation for state's IT Industry at the end of March this year
India's IT industry generates exports of Rs 1.5 lakh crore, one-third of which is generated out of Karnataka.
State IT minister S R Patil said that while Karnataka's IT industry has been clocking growth rates of 16% to 18%, the IT industry's average national growth has been about 12%.
The minister said that the ITIR (Information Technology Investment Region) coming up over 10,500 acres near the city's international airport in Devanahalli, would be completed in two phases. "Phase one of the project will be completed in 2020 and phase two will be completed by 2032," said Patil. He added that over 30 IT companies have got in-principle approval to setup operations in the upcoming project, which is getting Rs 7,000 crore in funding from the central government.
The Karnataka government said on Friday that 175 new companies invested in the IT and ITeS sector in the year ended March 2014, a growth of 59% over the previous year.
The investment (excluding real estate costs) that these new companies poured into the southern state was $1.4 billion (Rs 8,615 crore), generating direct employment of 5.5 lakh people.
"The investment figures are just the interim numbers. We expect the final value to be much higher," said Srivatsa Krishna, secretary IT & BT, Karnataka government. He added that the numbers didn't include businesses such as animation, special effects, graphics and bioinformatics, which are all related to the IT industry.
In 2012-13, 110 new companies invested in the IT/ITeS sector, pouring in $1.25 billion and generating employment of 4.7 lakh people. The growth in employment generation for state's IT Industry at the end of March this year
India's IT industry generates exports of Rs 1.5 lakh crore, one-third of which is generated out of Karnataka.
State IT minister S R Patil said that while Karnataka's IT industry has been clocking growth rates of 16% to 18%, the IT industry's average national growth has been about 12%.
The minister said that the ITIR (Information Technology Investment Region) coming up over 10,500 acres near the city's international airport in Devanahalli, would be completed in two phases. "Phase one of the project will be completed in 2020 and phase two will be completed by 2032," said Patil. He added that over 30 IT companies have got in-principle approval to setup operations in the upcoming project, which is getting Rs 7,000 crore in funding from the central government.
Courtesy : Times of India
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