The Hindu Business Line : Karnataka to add 15 m sq ft of office space by next year

THE Karnataka Government and private entrepreneurs are set to add about 15 million sq ft of office space, in addition to the existing 40 million sq ft by the end of 2005.

The Secretary of Information and Technology, Karnataka, Mr M.K. Shankaralinga Gowda, and the Director of Software Technology Parks of India, Mr B.V. Naidu, told newspersons that a demand supply gap for quality space as predicted by a report of the consultants McKinsey & Co had already emerged.

This demand would be met by scores of private developers, who are augmenting additional space of about 15 million by next year.

"However, given the fast developments in the technology sector, especially ITES in the country and the State in particular, it is estimated that about 1,00,000 additional jobs would be created over the next two years in Bangalore and other cities in the State.

As a part of the promotional strategy, the Karnataka Government is training about 3,00,000 people to gear up to the job opportunity in the ITES sector".

Announcing Bangalore IT.com, the flagship technology event held in Bangalore they said, "The event, that has been projected to support new and emerging areas of animation and gaming, would be host to several multi-million dollar deals.

The rate at which the IT sector has grown over the last few years is indicative of the pattern of growth and the exports crossed $4.2 billion last year and this is projected to grow by about 30 per cent this year. The pressure on office space has opened up new avenues and companies are seeking to locate centres in Mysore, Mangalore, Belgaum and Hubli," they said.

"Given the current business trends, Bangalore is adding about two companies a week with foreign equity and the last four months has shown that the city has added about 41 companies. The trend for growth is continuing," they said.

Speaking about the IT event, they said the Karnataka Government and STPI have projected this as an opportunity to the ICT industry to showcase their skills and products before a broad range of corporate and corporate decision-makers. The career stall would serve as a springboard to the industry and job-seekers.

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