February 27 , 2014
Latest update: August, 2013
Last Updated: August, 2013
KARNATAKA State Report | August, 2013
Karnataka is located in the southern region of India. It is surrounded by the Arabian Sea in the west, Goa in the northwest, Maharashtra in the north, Andhra Pradesh in the east, Tamil Nadu in the southeast, and Kerala in the southwest.
The state contributed 5.6 per cent to the gross state domestic product (GSDP) of India in 2012-13. Average GSDP growth rate between 2004-05 and 2012-13 was about 15.5 per cent. The per capita GSDP increased to US$ 1,608.4 in 2012-13, growing at a CAGR of 14.2 per cent between 2004-05 and 2012-13.
Karnataka is the IT hub of India and home to the fourth largest technology cluster in the world. It accounted for 41.6 per cent (US$ 28.3 billion) of India’s electronics and software exports in 2011-12. It has 47 IT/ITeS special economic zones (SEZ), 3 software technology parks and dedicated IT investment regions.
The state has well developed social, physical and industrial infrastructure, good road, rail, water and air connectivity and substantial port infrastructure. The state also has a well-developed telecom infrastructure and excellent healthcare facilities.
Karnataka offers wide range of fiscal and policy incentives for businesses under the Karnataka Industrial Policy, 2009-14. Investor friendly sector specific-policies to promote industries like IT, biotechnology, textiles and tourism have also been instituted and simplified procedures for investment have been introduced. The state ranked fifth in terms of attracting private sector investments in India, and had outstanding investments of US$ 813.8 billion as of December 2012.