Business Standard.com
State is targetting Rs 37,000 crore exports this fiscal
Our Bureau / Chennai/ Bangalore February 20, 2006
Karnataka continues to surge ahead in software exports. Software Technology Parks of India (STPI) units based in Karnataka registered 29.89 per cent rise in their exports to touch Rs 25,200 crore in the first three quarters of 2005-06 ending December 31, 2005. This accounts for 37 per cent of the total national software exports.
The state is targetting Rs 37,000 crore ($8.20 billion) by March 31, 2006 which will be a growth of 34.30 per cent over the previous year’s exports of Rs 27,600 crore.
Tier II cities (Mysore, Mangalore & Manipal and Hubli) in the state have done well, with Mangalore and Manipal recording Rs 430 crore software exports as against Rs 390 crore in the corresponding period last year, followed by Mysore at Rs 286 crore (Rs 223 crore) and Hubli at Rs 3.60 crore (Rs 2.50 crore).
“Mysore has become the next desired destination after Bangalore. Many of the anchor companies are keen to expand to each of these tier II locations,” STPI director B V Naidu said.
During the first three quarters of 2005-06, 135 new software companies set up operations in Bangalore (an average of four companies per week) as against 125 companies in the same period of the previous year (2004-05).
The period saw Bangalore attracting major global companies like Apple Computer, Deutsche Bank, Bearing Point, Target, Caterpillar, SanDisk, ABB and JP Morgan. Of these 135 companies, foreign equity companies numbered 82 and the rest were Indian companies.
Investment committed by these STP units amounts to Rs 2,127 crore, which includes Rs 1,400 crore from foreign companies, Rs 407 crore from major Indian companies and Rs 563 crore from small and medium enterprises (SMEs).
Of the 1,658 companies registered with Karnataka STPI, 1,120 are active. “Of these, 400 companies have show interest in expanding within the city. This indicates industry’s continued confidence in Karnataka, said Shankaralinge Gowda, Karnataka IT&BT secretary.
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