Software_industry_in_Karnataka
Software industry in Karnataka
Overview of the software industry in Karnataka
The software industry in Karnataka state in India has become one of the main pillars of the state's economy. Karnataka stands first among all the states of India in terms of revenue generated from software exports, accounting for 42% share of all software exports from the country during the financial year of 2022-2023.[1][2][3] The total exports of Karnataka was Rs 3.28 lakh crore ($65 billion). Karnataka's capital city Bangalore has the sobriquet of Silicon Valley of India,[4] with total IT exports worth US$ 53 billion during the financial year 2021–22,[5][6] employing 1 000 000 people directly and 3 000 000 lakh indirectly.[7] Though most software companies are located in Bangalore, some have settled in other cities like Mysore, Mangalore, Belgaum and Hubli in Karnataka.[8] The infrastructure required for setting up software industries in Karnataka is provided by STPI. The software industry in Karnataka includes companies dealing with various fields like telecommunication, banking software, avionics, database, automotive, networking, semiconductors, mobile handsets, internet applications and business process outsourcing. Currently, out of total IT exports, 95% is from Bengaluru alone and the other Karnataka cities contribute just 5%.[9]
The Nandi Hills area on the outskirts of Devanahalli is the site of the upcoming $22 billion, 12,000-acre (49 km2) BIAL IT Investment Region, one of the largest infrastructure projects in the history of Karnataka.[10] This project is expected to create over four million jobs by the year 2030.