The Hindu Business Line : Karnataka software exports up 52%

Mr B.V. Naidu (right), Director, STPI, with Mr Shankaralinge Gowda, Secretary, IT and Biotechnology, Government of Karnataka, at a press conference in Bangalore on Thursday. - G.R.N. Somashekar

Bangalore , April 28

KARNATAKA has reported a 52 per cent jump in its total software exports at Rs 27,600 crore during 2004-05, exceeding its own projections.

The State has set a software export target of Rs 35,000 crore for the current fiscal, a growth of 26 per cent over last year, and expects to create an additional 50,000 jobs, said Karnataka's Principal Secretary for IT, Mr Shankarlinge Gowda.

The State had initially estimated its exports to grow between 30-35 per cent in fiscal 2005. "The growth in exports is more than what we anticipated. We are rather surprised to see that we have reached 52 per cent. It is a jubilant growth," said Mr B.V. Naidu, Director of Software Technology Parks of India, Bangalore.

Mr Gowda said the State continued to be the preferred destination for IT investments in the country. "About 129 foreign equity companies were approved, one in every two working days, with a total projected IT investment of Rs 2,783 crore," he said. A total of 206 IT companies were given approvals during the year to invest in the State. About 198 new companies were registered during 2004-2005, the highest number in a year in the last five years, Mr Naidu said. Major IT firms which started operations in the State in fiscal 2005 include Google Online, Unisys Global Services, Textron, AMD India, Amazon Software Development, Elcoteq among others.

Sixty three per cent of software exports were to the US and 23 per cent to Europe. Top 10 companies accounted for 50 per cent of total exports and small and medium enterprises for the rest.

Hardware exports grew by four per cent to Rs 1,768 crore during 2004-05. About eight new companies started their operations in the State taking the total number to 44.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page