Karnataka logs $17 Billion software exports
Tuesday, 01 September 2009, 04:55 Hrs
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 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
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
post - 02 Sep, 2009
post - 02 Sep, 2009
4: yah you are right Deepthi.
Karthikeyan replied to: Deepthi
post - 02 Sep, 2009
post - 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
post - 02 Sep, 2009
post - 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
post - 01 Sep, 2009
post - 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
post - 02 Sep, 2009
post - 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
post - 02 Sep, 2009
post - 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
post - 02 Sep, 2009
post - 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
post - 02 Sep, 2009
post - 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
post - 02 Sep, 2009
post - 02 Sep, 2009
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