Karnataka’s IT exports crossed ₹3 lakh crore in FY 2023: Priyank Kharge

The industry, start-up ecosystem and government should work in tandem to keep up the pace of growth, says Priyank Kharge

November 29, 2023 10:42 pm | Updated 10:42 pm IST - Bengaluru

Visitors at the Bengaluru Tech Summit at Palace Grounds in Bengaluru on Wednesday.

Visitors at the Bengaluru Tech Summit at Palace Grounds in Bengaluru on Wednesday. | Photo Credit: SUDHAKARA JAIN

The IT and ITeS exports from Karnataka crossed ₹3,28,106 crore in FY 2023, a 27% year-on-year growth, Priyank Kharge, Minister for IT, Biotech, Rural Development and Panchayati Raj said, quoting Software Technology Parks of India (STPI) figures on Wednesday.

During FY23, the country’s total IT and ITeS exports were ₹7,81,236 crore, of which Karnataka solely accounted for 42%, he said.

In terms of people and jobs, the fiscal saw the knowledge economy adding 22,43,245 people, of which Karnataka alone had a 40% share at 9,05,715 jobs, an annual growth of 13%, said the Minister.

Earlier, speaking at the opening session of Karnataka’s tech exposition, the Bengaluru Technology Summit at Palace Grounds, the Minister said the State’s dominance extended across other core innovative sectors.

For instance, it commanded a 40% share in electronics design, a staggering 52% share in machine tools manufacturing, a whopping 65% share in aerospace and defence manufacturing and a commendable 60% share in biotech production and exports.

Breaking Boundaries

By embracing the theme, Breaking Boundaries, the State’s goal was to spark inspiration within the global technology community, encouraging the exploration of new technological frontiers. “We seek to cultivate innovation, collaboration, and transformative breakthroughs, advocating for global tech connectivity that transcends limitations and knows no boundaries,’‘ he said while addressing a packed global tech audience.

In the fiscal year 2023-24, the State successfully executed two programmes to Dusseldorf, Germany, involving 2 start-ups, and the United Arab Emirates, involving 10 start-ups, Minister Kharge said.

”Building upon the success of two editions of the Start-ups Market Access Programme and drawing from valuable feedback received from participating start-ups, we are actively in the process of crafting three additional outbound delegations in 2024 to Singapore, Belgium, and Australia,’‘ Kharge added.

Hope for growth

Kris Gopalakrishnan, chairman, Vision Group of IT, said the technology sector had grown by 9% during the last year due to the slowdown. He, however, hoped that the $200 billion tech sector would touch $350 billion by 2030. He said the ChatGPT app launched in November 2022 was the fastest-growing app during the last one year.

Large and Medium Industries Minister M.B. Patil said Karnataka’s focus was on creating an environment that is conducive to growth, fostering entrepreneurship and attracting investments.

Also, speaking at the tech event, he said the policies enacted by his government were not just about business but they were about creating a legacy of progress, inclusivity and sustainability.

“Karnataka has been ranked ‘top achiever’ in the ease of doing business by the Department for Promotion of Industry and Internal Trade announced in 2022. Our state rose to this rank based on the implementation of varied reforms across areas ranging from the ease of doing business, affidavit-based clearance, land reforms, central inspection system, single-window clearances to sectoral policies,” he claimed.

He further said the state accounted for 40% of the country’s total techy exports, 64% of ESDM (Electronics System Design & Manufacturing) exports and 30% of biotech exports. He said the state was home to some 440 GCCs (global capability centres), from less than 22 in the year 2000, which means the state added around 20 GCCs every year in the last many years.

Showcasing the state to an audience that comprised global investors, the minister further said, that Karnataka had a thriving startup ecosystem with over 14,000 startups contributing to an ecosystem valuation of $164 billion.

Infrastructural chaos

Deputy Chief Minister D.K. Shivakumar said breaking boundaries (indicating this edition’s theme of BTS) came with rewards and fruits.

On a physical level, Bengaluru city has been breaking its boundaries too fast, and it has caused all the infrastructural chaos, he added.

“We need to fix it before it bursts at the seams. I guarantee you that I will spare no effort in fixing Bengaluru. I will need to break a few boundaries to fix these issues, and I won’t hesitate. We have big plans, and you will see them on the ground soon,’‘ the deputy CM assured.

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