Latest update: October, 2016
Last Updated: October, 2016
KARNATAKA State Report | October, 2016
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$ 156.23 billion in 2015-16. The average GSDP growth rate between 2004-05 and 2015-16 was about 13.93 per cent. The per capita GSDP increased at a compound annual growth rate (CAGR) of 12.91 per cent between 2004-05 and 2015-16 to US$ 2,557.
The state has attracted Foreign Direct Investment (FDI) equity inflows worth US$ 20.24 billion during the period April 2000 to March 2016, according to data released by Department of Industrial Policy and Promotion (DIPP).
Karnataka has vibrant automobile, agro, aerospace, textile & garment, biotech and heavy engineering industries. The state has sector-specific SEZs for key industries such as IT, biotechnology, engineering, food processing and aerospace.
Karnataka is the IT hub of India and home to the fourth largest technology cluster in the world. As of September 2015, total exports from the state aggregated to US$ 19.63 billion. Karnataka has 47 IT/ITeS SEZs, three software technology parks and dedicated IT investment regions. As of January 2016, Karnataka had a total installed power generation capacity of 17,333.92 megawatt (MW).
Karnataka boasts of a diverse flora and fauna and a 320 km natural coast line, which makes it a nature tourist's paradise. Tourist arrivals in the state increased from 25.2 million in 2005-06 to 120.5 million in 2015-16.
Karnataka offers a wide range of fiscal and policy incentives for businesses under the Karnataka Industrial Policy, 2014-19. 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. Karnataka has released its Startup Policy 2016 with the objective of stimulating growth of 20,000 technology startups, creating 6,000 product startups and mobilizing Rs 2,000 crore (US$ 293 million) worth of funds.
Last Updated: November 22, 2016