Karnataka has emerged as a key state with knowledge-based industry such as IT, biotechnology and engineering. The state also leads in IT and ITeSexports, which was US$ 16.3 billion for 2008-09. It is the science capital of India with more than 100 research and development (R&D) centres, and a preferred destination for multinational.
At current prices, the Gross State Domestic Product (GSDP) of Karnataka was about US$ 58.3 billion in 2008-09. The average GSDP growth rate between 2001-02 and 2008-09 was about 13.9 per cent.
The Net State Domestic Product (NSDP) of Karnataka was about US$ 50.76 billion in 2008-09. The average NSDP growth rate between 2001-02 and 2008-09 was 13.64 per cent. In 2008-09, the tertiary sector contributed the most to the GSDP amounting to US$ 31.6 billion (55 per cent), followed by the secondary sector, contributing US$ 17 billion (29 per cent), and the primary sector’s contribution amounting to US$ 9.5 billion (16 per cent).
The tertiary sector witnessed the highest growth of all three sectors in the period 2008-09 over 2007-08 at 17.3 per cent, followed by the secondary sector, which grew by 17 per cent and the primary sector, which grew by 3.3 per cent during the same period. The state’s per capita GSDP in 2008-09 was US$ 1,006.3. The per capita GSDP increased at a CAGR of 12.5 per cent between 2001-02 and 2008-09. District-wise distribution of per capita income indicates fairly equitable distribution across all districts. The technology and energy sectors have been the key drivers of increase in per capita income.State Presentation (April 2010)
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