Information Technology in Karnataka
Introduction
Majority of IT activity in Karnataka is concentrated in Bangalore. Bangalore is also referred to as the Silicon Valley of India. For now we have clubbed IT, networking and telecom companies together. Later on we will separate them.
NASDAQ opened its office in Bangalore on Feb 12, 2001. This was seen as a major victory for Bangalore.
The Software Technology Park plays a big role in encouraging this industry in Karnataka. Other STP centers in Karnataka are,
Hubli.
Mangalore.
As far as Bangalore is concerned, 94-96 per cent of exports were routed through the SPTI centre in Bangalore. Karnataka software exports are as follows:
Rs 27,600 crore in 2004-05 contributing to 34% of the overall Indian IT exports.
Rs 37,600 crore in 2005-06 contributing to 37.6% of the overall Indian IT exports.
Around 125 foreign equity companies pumped in investment of Rs 1882 crore while Indian companies invested Rs 879 crore. About four new companies are coming to Karnataka every week. Some of the companies that are setting up a base in Bangalore include JP Morgan Services, Target, Caterpillar, Apple Computers, ABB, WS Atkins and Bearing Point. Mysore's exports to increase from Rs 400 crore to Rs 600 crore and Mangalore to grow from Rs 570 crore to Rs 1000 crore by 2007. On the hardware front, Karnataka's exports grew from Rs 1768 crore last year to Rs 2481 crore.
The above list clearly shows Karnataka is the leader when it comes to software exports. SEI CMM Level 5 statistics are also very encouraging: World [40 companies], India [29 companies] and Bangalore a whopping 18 companies!.
Organizations like TiE are playing an active role in encouraging entrepreneurship..
Every November, STPI holds BangaloreIT.in in Bangalore.
Hot News in Nutshell
September 2006 .
IT majors spot a slot in the limelight
As the outsourcing pie is getting bigger, Indian IT giants like Infosys and Wipro are now pushing their branding initiatives aggressively, though not on the scale of the global giants, but effective in their own way. These typically involve creating user groups, sending out white papers and participating in conferences and meets, where the decision makers congregate..
Infy ups LIC cover to shield talent
The largest group life insurance policy in India just got much larger. In a bid to retain talent, Infosys Technologies has widened the scope of its group cover with Life Insurance Corporation and has hiked the sum insured from Rs 6,000 crore to Rs 10,026 crore.
MindTree eyes $70 mln Indian IPO in early 2007
Venture capital-funded MindTree Consulting, a mid-sized software services exporter, expects to raise about $70 million through a local initial public offering early next year, its top official said.
Infy employees hit the Jubilee jackpot
It is bonanza time for the 55,000 odd employees of Infosys Technologies. On Wednesday, they collected cheques ranging from Rs 25,000 to Rs 3/3.5 lakh as the company disbursed Rs 126 crore as a one-time payout to ring in Infy’s silver jubilee year.
Steps assured to promote Mysore as IT destination
Karnataka IT, BT and Science and Technology Principal Secretary Anup K Pujari today assured necessary help to project Mysore as the best destination for IT development. Inaugurating a seminar on 'Technology Adoption for Increased Productivity', organised jointly by the Mysore Chamber of Commerce and Industdries and Processware System Pvt Ltd here, he recalled the Chief Minister's 'Brand Bangalore is the best' slogan, under which plans were afoot to develop not only Bangalore but also Mysore as IT destinations. The IT industry must also be taken to the rural sector and its benefits must reach the people, he opined.
Infosys ranked fastest growing TSP in US
Infosys Technologies Limited, a world leader in consulting and information technology services, today announced that it was ranked as the fastest growing technology and service provider (TSP) to the US financial service market by Gartner, a leading research and analyst firm.
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