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Karnataka logs $17 Billion software exports
Tuesday, 01 September 2009, 04:55 Hrs |
12 Comments
Bangalore: Defying the global meltdown, Karnataka earned $17 billion (
74,929 crore) from software exports last fiscal (2008-09) as against 60,800 crore the previous year, registering a 23 percent growth in rupee terms and 21.5 percent in dollar terms.
"The export performance of the IT industry in the state, especially Bangalore, demonstrates the knowledge sector remains unaffected by the global meltdown and decline in IT spending overseas," state Information Minister Katta Subbramanya Naidu told reporters here.
As India's tech hub, Bangalore accounted for72,506 crore or 97 percent of the state's total exports, while the remaining 2,423 crore are from tier-two cities such as Mysore, Mangalore and Hubli-Dharwad, registering 45 percent year-on-year (YoY) growth.
India's combined software exports -- spanning services, products and business process outsourcing (BPO) -- grew 21 percent to $50 billion (2.22 trillion) as against $41 billion (1.84 trillion) in 2007-08.
Karnataka accounted for 34 percent of the country's total software exports last fiscal.
"The growth is substantial especially in the current economic scenario. The state retains its top position in the sector, including exports," Naidu said.
Naidu said the state had set a target of $20 billion (1,000 billion) this fiscal.
Incidentally, the industry's representative body, National Association of Software Services and Companies (Nasscom), has forecast India's software exports this fiscal to be around $48-50 billion.
According to R. Rajalakshmi, director of the Bangalore chapter of the Software Technology Parks of India (STPI), Karnataka's software export revenues are from the 1,200 firms registered with the STPI and software-related special economic zones.
Eighty-four software units will be set up in the state this fiscal, including 35 with foreign equity, two Indian majors and 47 small and medium enterprises, with a combined investment of465 crore.
In spite of voluntary attrition and lay-offs in the BPO sector, employment in the software industry in the state increased by 34,000 to 554,000 in 2008-09.
Source: IANS
74,929 crore) from software exports last fiscal (2008-09) as against 60,800 crore the previous year, registering a 23 percent growth in rupee terms and 21.5 percent in dollar terms."The export performance of the IT industry in the state, especially Bangalore, demonstrates the knowledge sector remains unaffected by the global meltdown and decline in IT spending overseas," state Information Minister Katta Subbramanya Naidu told reporters here.
As India's tech hub, Bangalore accounted for
72,506 crore or 97 percent of the state's total exports, while the remaining 2,423 crore are from tier-two cities such as Mysore, Mangalore and Hubli-Dharwad, registering 45 percent year-on-year (YoY) growth.India's combined software exports -- spanning services, products and business process outsourcing (BPO) -- grew 21 percent to $50 billion (
2.22 trillion) as against $41 billion (1.84 trillion) in 2007-08.Karnataka accounted for 34 percent of the country's total software exports last fiscal.
"The growth is substantial especially in the current economic scenario. The state retains its top position in the sector, including exports," Naidu said.
Naidu said the state had set a target of $20 billion (
1,000 billion) this fiscal.Incidentally, the industry's representative body, National Association of Software Services and Companies (Nasscom), has forecast India's software exports this fiscal to be around $48-50 billion.
According to R. Rajalakshmi, director of the Bangalore chapter of the Software Technology Parks of India (STPI), Karnataka's software export revenues are from the 1,200 firms registered with the STPI and software-related special economic zones.
Eighty-four software units will be set up in the state this fiscal, including 35 with foreign equity, two Indian majors and 47 small and medium enterprises, with a combined investment of
465 crore.In spite of voluntary attrition and lay-offs in the BPO sector, employment in the software industry in the state increased by 34,000 to 554,000 in 2008-09.
Source: IANS
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Reader's comments(12)
1:
Great News. In my company growth rate is 30% last 4 months. Absolutely great. http://www.angstcorner.com/
Posted by:Angstcorner
- 22 Sep, 2009
2:
I think recession is favoured for all IT/ITES company. So, they given lay-offs and increased work loads to the employee's. And now they seeing profit by these ways.
Posted by:Karthikeyan
- 02 Sep, 2009
3:
It is not just by lay offs karthik that the companies had profits. they could have had profits even if there weren't any lay offs. Lay offs was just another to gain MORE profits. These corporates are never satisfied with the money they take home, just for the sake of taking Rs.110 instead of Rs.100 our salaries are made from Rs.10 to Rs.1
Deepthi Replied to: Karthikeyan
- 02 Sep, 2009
5:
Only Karnataka is rich state ,all other states are poor
Posted by:rajesh
- 01 Sep, 2009
6:
Rajesh your wrong how can declare that other states are poor. India's most economic growing state is Maharashtra specifically Mumbai & Pune.
mohideen Replied to: rajesh
- 02 Sep, 2009
7:
UR WRONG RAJESH Karnataka is not rich state infact bangalore is not rich city also SURAT is the Richest city in INDIA....after the AHMEDABAD Bangalore has still long way to go
Kunal Replied to: rajesh
- 01 Sep, 2009
8:
hey kunal, but karnataka is rich in IT Exports. This article is related to IT ok. By rajesh point of view i think he meant in that way.
Karthikeyan Replied to: Kunal
- 02 Sep, 2009
9:
You are right Kunal.Most of Gujarath cities are rich .
But bangalore wonderful place ... kannadigas always broadminded.. their hospitality is very nice. You cant get anywhere in India...even in chennai..or hydrabad.
But bangalore wonderful place ... kannadigas always broadminded.. their hospitality is very nice. You cant get anywhere in India...even in chennai..or hydrabad.
vijay Replied to: Kunal
- 02 Sep, 2009
10:
You could not have posted a better irrelevant reply. was anyone talking about the nature of Kannadigas, when the discussion is going on about economy pls keep it to economy. Absolutely insane to link it up with culture. This is how we very comfortably mess up things
guest Replied to: vijay
- 02 Sep, 2009
11:
Thank you vijay for praising KANNADIGAS. Im from Karnataka and I miss my state, my people very much.
Ameen Replied to: vijay
- 02 Sep, 2009
12:
I worked in Pune (1.5+yrs), Mumbai (2 yrs) and now working in Bangalore from approx 2 yrs.
You are ture that Bangalore is better place. but Mumabi has something that attract people.
http://only-your-views.blogspot.com
You are ture that Bangalore is better place. but Mumabi has something that attract people.
http://only-your-views.blogspot.com
Satya Replied to: Ameen
- 02 Sep, 2009
Beautiful and dress selection, please go to Dresses
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