Last Updated: October 31, 2014
Latest update: November, 2014
Last Updated: November, 2014
KARNATAKA State Report | November, 2014
Karnataka is located in the southern region of India. It is surrounded by the Arabian Sea on the west, Goa on the northwest, Maharashtra on the north, Andhra Pradesh on the east, Tamil Nadu on the southeast, and Kerala on the southwest.
At current prices, the Gross State Domestic Product (GSDP) of Karnataka was about US$ 98.5 billion in 2013-14. The average GSDP growth rate between 2004-05 and 2013-14 was about 15.2 per cent. The per capita GSDP increased at a compound annual growth rate (CAGR) of 13.9 per cent between 2004-05 and 2013-14 to US$ 1,793.
Karnataka is the IT hub of India and home to the fourth largest technology cluster in the world. During 2012-13, total exports from the state aggregated US$ 47.6 billion, which is approximately 12.7 per cent of India's total exports. The state has 22 operational, 40 notified, one valid in-principle approval and 61 formal approval special economic zones (SEZs), as of July 2013.
Karnataka offers a wide range of fiscal and policy incentives for businesses under the Karnataka Industrial Policy, 2009-14. Through the ESDM Policy 2013, the government of Karnataka has planned to facilitate, promote and develop the ESDM sector in Karnataka and make the state a preferred destination for investment in this sector.