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Bangalore or Bengaluru, the capital city of the South Indian state of Karnataka, India. The economy of Bengaluru contributes over 43.65% to the economy of the State[1] of Karnataka, accounting for 98% of the Software Exports of the State.
The establishment and success of high technology firms in Bangalore have led to the growth of Information Technology (IT) in India. As of 2020, IT firms in Bengaluru employed about 3.5 million employees in the IT and IT-enabled services (ITES)/BPM sectors, out of nearly 4.4 million employees across India,[2][3] and accounted for the highest IT-related exports in the country.[citation needed] In 2014, Bangalore contributed US$45 billion, or 38% of India's total IT exports.[4]
The estimated Metro GDP (PPP) of the city is around US$300 billion, with a Metro GDP (PPP) Per Capita of roughly US$25,461 in 2022. It has been ranked as the third most productive metro area in India.[5][6] According to the estimates, Metro GDP (PPP) of the city has grown to US$320.1 billion in 2023.[7]
One of the important factors spurring Bangalore's growth was heavy state government investment (and its environment) in Bangalore's public sector industries which is what makes it so developed and rich.
According to the Bangalore Innovation Report, with projected GDP growth of 8.5%, Bangalore will be the world's fastest growing city until 2035.[8]
- ^ ROTTI, JOLAD (10 September 2013). "Bangalore the main revenue generator for Karnataka". karnataka.com. The Times of India Sept 9 2013. Retrieved 21 May 2018.
- ^ "IT employee strength to rise to 4.8mn this year". The Times of India.
- ^ "IT employees get nod to set up trade union in Karnataka".
- ^ "'Bangalore will become the world's largest IT cluster by 2020'".
- ^ "Deep Dive City Bangalore, India" (PDF). Transformative Urban Mobility Initiative. Retrieved 9 January 2024.
- ^ "Fastest Growing Cities". The Times of India. Retrieved 30 August 2018.
- ^ "Bengaluru, India - C40 Cities". C40 Cities. Retrieved 9 January 2024.
- ^ "Bengaluru to be world's fastest growing city". Deccan Herald. 23 January 2020. Retrieved 9 January 2023.
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