Karnataka software export jump 36%
Karnataka has posted a 36% jump in software exports to Rs 37,600 crore in 2005-06, maintaining its leadership in the IT sector.india Updated: May 03, 2006 18:05 IST
Karnataka has posted a 36 per cent jump in software exports to Rs 37,600 crore in 2005-06 as against Rs 27,600 crore in the previous financial year, maintaining its leadership in the IT sector.
The state's share in the country's total software exports in 2005-06 went up to 37.6 per cent from 34.5 per cent in the year-ago period, officials of the Software Technology Parks of India (Bangalore) and Karnataka IT Department said today.
As many as 201 new software units -- 124 foreign equity firms and 77 Indian ones -- were added during 2005-06, Additional Director of STPI (Bangalore) J Parthasarathy said.
STPI (Bangalore) Director BV Naidu said the fact that Bangalore last year attracted four 'Fortune 500' companies and 11 firms with above $ 1 billion turnover, which signifies their confidence in Bangalore.
Total projected IT investment in 2005-06 was Rs 2,761 crore -- Rs 1,882 crore from foreign firms and Rs 879 crore from Indian ones, officials said.
STPI and IT officials said the State's software exports growth was fuelled by organic growth of major companies.
Secretary in the Karnataka Department of IT and BT, MK Shankarlinge Gowda said the state was aiming for software exports of Rs 49,000 crore ($10 billion-plus) in the current fiscal and $20 billion by 2010.
He said the IT sector created an estimated 70,000 jobs in the last financial year.
Hardware exports from the state clocked a 40 per cent growth in 2005-06, from Rs 1,768 crore to Rs 2,481 crore, officials said. Seven new hardware companies were approved during the year.