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Karnataka’s IT Exports Surpasses Rs 3 Lakh Crore In FY 2023: IT Minister Priyank Kharge

Updated: Nov 30, 2023 05:05:51pm

Karnataka’s IT Exports Surpasses Rs 3 Lakh Crore In FY 2023: IT Minister Priyank Kharge

Bengaluru, Nov 30 (KNN) Karnataka's IT minister Priyank Kharge on Wednesday informed that the state’s IT exports grew 27 per cent to Rs 3.2 lakh crore in 2022-23 financial year.

Speaking at the 26th edition Bengaluru Tech Summit (BTS) 2023, the minister said that the state’s share in India’s IT exports has reached 42 per cent.

The three-day summit based on Breaking Boundaries, has set the stage for a convergence of tech leaders, startups, investors, and research labs from over 30 countries, to deliberate upon emerging technologies, ideas powering newer digital imperatives and how companies are navigating the future embracing AI as the game changer.

During his address, the minister said, “Karnataka is home to 14,000 startups contributing to an ecosystem valuation of USD 164 billion. We are home to around 40 unicorns, and the promise of upcoming unicorns on the horizon solidifies our position as a global innovation hub.”

Karnataka chief minister Siddaramaiah said the state has become the most sought-after destination for global capability centres (GCCs), hosting around 40 per cent of GCCs in India.  “The availability of a skilled digital talent pool, a thriving innovation and startup ecosystem, and a conducive policy environment have fuelled the growth story of GCCs in Karnataka,” said Siddaramaiah.

India’s GCC market is expected to more than double to USD 110 billion by 2030 from the current USD 45 billion housing 2,500 tech centres, showed an EY report titled Future of GCCs in India—vision 2030.

Industries minister MB Patil said an interesting fact to note is that in the year 2000, there were less than 22 GCCs in Karnataka. “Currently, Karnataka is home to 440 GCCs. This means that the state has added approximately around 20 new GCCs every year from 2000 to 2022,” he said.

Siddaramaiah said Karnataka is home to over 5,500 IT/ITeS companies and approximately 750 MNCs.

“This vibrant industry has not only provided direct employment to over 12 lakh professionals, but has also generated over 31 lakh indirect jobs,” he added.

Besides IT/ITeS, Karnataka has over 40 per cent share in electronics design, 52 per cent share in machine tools manufacturing, a 65 per cent share in aerospace & defence manufacturing and a 60 per cent share in biotechnology exports, the government said.

(KNN Bureau)


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