Latest update: April, 2019
Last Updated: April, 2019
KARNATAKA State Report | April, 2019
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 stood at about Rs 12.69 trillion (US$ 196.88 billion) in 2017-18. The GSDP (in Rs) of the state grew at a CAGR of 13.11 per cent between 2011-12 and 2017-18. The state’s per capita GSDP was Rs 193,409 (US$ 3,001) in 2017-18. The per capita GSDP (in Rs) increased at a CAGR of 11.89 per cent between 2011-12 and 2017-18.
The state has attracted Foreign Direct Investment (FDI) equity inflows worth US$ 35.69 billion during the period April 2000 to December 2018, according to data released by Department for Promotion of Industry and Internal Trade (DPIIT).
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, and engineering, food processing and aerospace.
Karnataka is the IT hub of India and home to the fourth largest technology cluster in the world. In 2017-18, merchandise exports from the state aggregated to US$ 18.05 billion. Karnataka has 47 IT/ITeS SEZs, three software technology parks and dedicated IT investment regions. As of February 2019, Karnataka had a total installed power generation capacity of 27,272.36 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 36.7 million in 2006 to 102.3 million in 2017^.
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. In September 2017, the government of Karnataka passed the ‘Karnataka Electric Vehicle and Energy Storage Policy 2017’. Electric Vehicles manufacturing in Karnataka is expected to attract investments worth US$ 4.82 billion and create 55,000 jobs.
Note: ^up to November 2017
Last Updated: April 10, 2019