Latest news with #KarnatakaDigitalEconomyMission
Time of India
21 hours ago
- Business
- Time of India
K'taka services exports nearly doubles in 6yrs, breach $150bn mark
Bengaluru: Karnataka's services-sector exports — spanning information technology, business process management, fintech, biotech, engineering design and other knowledge-based services — reached $159 billion in 2024-25, a 13.7% increase over the previous year. In 2018-19, Karnataka exported $77.8 billion worth of software and services. After a slight dip to $79.2 billion in 2020-21 due to the pandemic, the sector rebounded to $101.8 billion the following year. Exports grew to $130.3 billion in 2022-23, $139.9 billion in 2023-24, and crossed the $150-billion mark this year — nearly doubling in six years. The state continues to hold the top spot in the country for total services exports (see table), according to data from the Visvesvaraya Trade Promotion Centre (VTPC). While VTPC didn't have a break-up for IT/ITeS immediately, officials said that a majority of the services exports are from the sector. You Can Also Check: Bengaluru AQI | Weather in Bengaluru | Bank Holidays in Bengaluru | Public Holidays in Bengaluru Karnataka IT/BT secretary Ekroop Caur told TOI: "From FY2015 to FY2024, Karnataka's services sector grew at a CAGR of 8.3%, outperforming the national average of 6.3%. The 13.7% rise last year isn't a one-off — Bengaluru alone accounts for nearly 40% of India's IT/ITeS exports." Pointing out that over 40% of India's 1,750+ GCCs are in Bengaluru, employing more than 8 lakh professionals, she said these centres are evolving into global R&D and innovation engines. "Beyond IT/ITeS, we're also seeing contributions from fintech, biotech, product development and chip design. Skilling initiatives like Nipuna Karnataka are helping align our workforce with modern industry needs, particularly in AI, machine learning, cybersecurity and blockchain," she added. TV Mohandas Pai, chairman of Aarin Capital, reiterating that Bengaluru remains the heart of Karnataka's services story, said 28 lakh people work here, across 65,000 companies and 20,000 startups. "Each year, 100-200 new tech startups are born. Bengaluru has one of the world's largest concentrations of tech. But our biggest failure is infrastructure. There is no significant investment happening in the city or in smaller towns. Governments make big announcements — Rs 1 lakh crore, for instance — but the actual allocations are meagre," he added. FKCCI president Balakrishna MG said the growth is driven by government efforts like the Karnataka Digital Economy Mission and the Beyond Bengaluru strategy. "Our reputation, global links, and steady FDI inflows have positioned us well. But to sustain this, we need more IT parks in Tier-II cities, fewer regulatory hurdles for smaller firms, and large-scale upskilling to meet demand in AI, Web3, and cloud-based technologies. Karnataka must reposition itself globally not just as an IT hub, but as a centre for broader knowledge and innovation services," Balakrishna said. PV Rai, managing director, Pixel Softek, cautioned against attributing the growth solely to government action. "It's the industry and the manpower, and the spurt in global capability centres (GCCs), that have propelled this. But the city's infrastructure is a serious concern. We lack proper roads, a clear masterplan, and IT-ready layouts. Without long-term, planned solutions, we risk losing momentum," he said. ------ For Graphic: Year Wise Service Exports From K'taka: Year Exports in Billion USD 2018-2019 77.8 2019-2020 83.8 2020-2021 79.2 2021-2022 101.8 2022-2023 130.3 2023-2024 139.9 2024-2025 159.1 Service Exports: Top 6 States & All India for 2024-2025: State Exports in in Billion USD Karnataka 159.1 Maharashtra 62.1 Tamil Nadu 48.4 Uttar Pradesh 18.9 Andhra Pradesh 4.2 Gujarat 3.8 All India 387.8 Source: Visvesvaraya Trade Promotion Centre
The Hindu
3 days ago
- Business
- The Hindu
Karnataka Digital Economy Mission unveils vision document for Mysuru
The Karnataka Digital Economy Mission (KDEM) envisages a digital economy revenue of ₹10,000 crore for the Mysuru cluster by 2030. The Vision Document was unveiled here on Friday at the Mysuru Big Tech Show conducted on the Infosys campus. As per the document, the road map for Mysuru cluster envisages investment by large companies and augmenting the work force by 10-fold. The Mysuru cluster targets a digital economy revenue of ₹10,000 crore, support for over 2,800 start-ups, 1.5 lakh jobs by 2030 with enhanced rigour and focus on IT/ITES, Startups, ESDM etc. The newly established Vayu Assets announced an investment of ₹1,250 crore in the region to establish a PCB plant catering to domestic and intersional markets while an Indo-Taiwanese Joint Venture Project – MiPhil Semiconductors, also announced its entry into the Mysuru cluster. The KDEM said in a release that over the last 12 months, Mysuru had elicited strong interest from the industry to establish operations in the cluster and the continued efforts of KDEM had resulted in more than 15 companies setting up offices, leading to fresh employment. Mysuru was positioned as an advanced national innovation hub, intended to serve as a sustained contributor to India's goal of achieving 1 trillion dollar digital economy by 2030, it added. Mysuru Big Tech Show 2025 showcased the next generation of innovators, offering access to investors, market exposure with government backing from the Government of Karnataka, and mentorship from top ecosystem enablers. The event witnessed participation by over 500 delegates, 45 plus global speakers, oer 80 start-ups among others. Officials and State government representatives who participated in the panel discussions deliberated on several aspects to make Mysuru a growth catalyst in the mission backed by the regions strong education focus. The release cited Ekroop Caur, Secretary, Department of Electronics, IT, BT and Science & Technology, who pointed out that Mysuru was presently the second largest IT exporter in the State contributing ₹5,000 crore annually. Mysuru's existing plug and play infrastructure spans almost 500,000 sq ft and more than 10,000 co-working seats with an approximate 200,000 sq ft of upcoming facilities together with a Global Technology Centre. ''As we look ahead, we aim to make Mysuru India's most 'infrastructure ready' hub, with a highly trained skilled workforce making it a magnet for global investments. We believe Mysuru can truly become the poster-boy to deliver on the State's digital ambitions,' she added. Some of the other areas of discussion included future ready skills for future industries; bridging the youth-industry gap; aspirational vocational education; global mobility and quality assurance, among others.
Time of India
27-05-2025
- Business
- Time of India
Tumakuru woos Bengaluru's tech companies with ready office space
Bengaluru: Bengaluru over-saturated? Relocate to Tumakuru. Neighbouring Tumakuru City — 60km from tech capital by road — has made a strong pitch offering ready-to-occupy space for Bengaluru-based Information Technology (IT) and Information Technology-Enabled Services (ITeS) companies to shift en bloc or set up branches. To start with, Tumakuru district administration has started collecting data on the number of IT professionals who daily commute from Tumakuru to Bengaluru. On Monday, Tumakuru administration posted a datasheet on social-media platforms with an appeal to techies to mention the names of companies they work for and the frequency of travel between two cities. The district administration has received overwhelming support from techies. "In less than two days of posting on 'X', we received details about 150 various IT companies operating in different parts of Bengaluru. We will discuss this with the IT department director Rahul SS and reach out to these companies via emails. If any company is interested in shifting or starting operations in Tumakuru, they can reach out to us directly," Tumakuru deputy commissioner Subha Kalyan said. On the rationale behind collecting details, the DC said the plan was to urge these companies to set up branches or completely shift operations to Tumakuru. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trade Bitcoin & Ethereum – No Wallet Needed! IC Markets Start Now Undo "As per estimates, over 5,000 techies from Tumakuru travel to Bengaluru daily. This could be more. Hence, we decided to have an open house for collecting data and formally reach out to those companies," Subha said. Meticulous planning has gone into this shift-to-Tumakuru plan. "We discussed this plan in detail with IT secretary Ekroop Caur and Sanjeev Gupta, CEO of Karnataka Digital Economy Mission, also visited the city and inspected the availability of infrastructure. Tumakuru has prospects of hosting software companies and IT industries. Accessing the Kempegowda International Airport from Tumakuru is easier with dedicated roads cutting through the hinterland. Suiting the needs of IT companies that look out for plug-and-play or coworking space, kind of office space, we have ready infrastructure at the heart of the city," Subha said. The DC said work on phases 4, 5, and 6 of the industrial township at Vasanthanarasapura on the outskirts of Tumakuru city is nearing completion and has ample provision to accommodate software and IT industries. Subha highlighted the perks that await the companies on shifting to Tumakuru: Companies can save on monthly rentals, transportation, and other expenditures.
