Karnataka's IT exports touch $12.6 bn

Tuesday, 22 May 2007, 07:00 Hrs
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Bangalore: Retaining its pre-eminent position as an infotech hub, Karnataka recorded IT exports worth $12.6 billion (517 billion) during the fiscal 2006-07, an official said here Monday.

"Of the total IT exports, software accounted for the lion's share - $11.9 billion (487 billion) and the remaining 29.5 billion ($720 million) by electronic hardware exports, registering a 29.5 percent growth over the previous fiscal at 400 billion," Software Technology Parks of India - Bangalore (STPI-B) director J. Parthasarathy told IANS on the sidelines of an IT event.

"These are provisional figures as we are yet to compile the export revenue figures of the IT-enabled services (ITES) sector, including business process outsourcing (BPO) services," he added.

As India's silicon capital, Bangalore continued to be the major contributor, accounting for around 98 percent of the state's total IT exports. Of the 1,600 active IT firms in the state, the state capital alone has about 1,400 firms, including about 700 multinationals.

Interestingly, with 7.6 billion (3.9 billion in FY 2006) exports, Mysore has overtaken Mangalore, which has posted 6.8 billion as against 5.7 billion in the previous fiscal, registering a year-on-year (YoY) growth of 94 percent and 20 percent respectively.

The state has attracted investments worth 30 billion from domestic and overseas IT firms, including multinationals.

"Though the number of new IT firms registered during the fiscal 2007 declined to 173 from 201 in FY 2006, we have been able to attract 5 billion investments in tier-two cities like Mysore. Of the new firms, 162 are in IT and ITES sector and 11 in the electronic hardware technology park (EHTP)," Parthasarathy said.

As the third tier-two city in the state, IT firms registered with the Hubli STPI posted 80.5 million in exports as against 40.9 million in FY 2006, a growth of 74 percent.

Among the multinationals, about 10 are $1-billion software firms, with majority of them from the US. Some of the firms are Business Objects Software, Cyber Site, Northern Operations, Brady Computers, Good Rich Acrosh, Macmillan Studio and SuperValue.

According to Nasscom and STPI estimates, the total IT exports from India for FY 2007 are estimated to be about $32 billion (1,300 billion) as against $24 billion (1,090 billion) in FY 2006.

"The export revenue in dollar terms would have been much higher had the rupee not appreciated by over six percent during the last two quarters of the last fiscal," Parthsarathy said.
Source: IANS
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