Bengaluru’s flourishing industries
Karnataka, with well-established infrastructure and IT-ecosystems, offers investment opportunities in aerospace and defence equipment, agri and food processing, automotive, biotech, pharmaceuticals, medical devices, and textiles, according to a research report.
Karnataka accounted for 25% of the value of investment proposals, approximately Rs.84,000 crore, in India as of November 2018, said the study citing data from the Commerce and Industry Ministry.
Karnataka was ranked number one in terms of investment proposals in the first 3 quarters of 2018, leaving behind Gujarat and Maharashtra, the leading investment winners, according to the ResearchAndMarkets report “Investment Opportunities in Karnataka 2019”.
Karnataka is the largest software exporter, second-largest chip design hub, fourth-largest automobile producer, and the fourth-largest contributor to electronic industrial output.
The southern state is also a leader in the exports of readymade garments, jewellery, petrochemicals and engineering goods, the report pointed out.
Capital city Bengaluru, the IT Capital known as Silicon Valley of India, has an established and strong ecosystem to facilitate IT and biopharmaceutical companies.
The city is also the second-fastest growing start-up ecosystem in the world and is home to billion-dollar Indian start-ups, according to the report.
It is expected to become the largest IT cluster globally by 2025, employing around 2.5 million professionals, said the report released 11 June 2019.
With the Karnataka government adopting the cluster development approach as a key strategy with a new scheme called Karnataka Cluster Development Programme (KCDP), the state will continue to prosper as the IT Hub of India, and the Knowledge, Research, and Innovation Hub of Asia, with high-end R&D centers of more than 400 multinational corporations.
With a well-established and connected network to all major markets, two international airports, approximately 275,000 km of the total road network, approximately 3,500 km of the rail network, a coastline of 300 km with 12 minor ports and one major port at Mangalore, Karnataka is a land of massive investment opportunities, said the report. fiinews.com