Overview
Karnataka, one of India’s leading states in terms of economic output, recorded a GSDP of ₹21.72 lakh crore in 2023–24, with a growth rate of 9.3%. The state’s per capita income stands at ₹2,65,690, highlighting its economic prosperity. Bengaluru, the capital, is the IT capital of India and a major hub for technology, aerospace, and biotechnology. Karnataka also boasts strong sectors in agriculture, manufacturing, and services.
Why Invest in Karnataka
- IT & Innovation Hub: Bengaluru is India’s Silicon Valley, a center for IT, fintech, and R&D.
- Manufacturing Growth: Significant developments in aerospace, electronics, and heavy industries.
- Favorable Business Environment: Pro-business policies and ease of doing business initiatives.
- Skilled Workforce: Access to a highly skilled workforce, especially in technology and engineering.
Incentives & Schemes
- Industrial Development Policy: Incentives for sectors like aerospace, biotechnology, IT, and manufacturing.
- Start-up Ecosystem: Focus on fostering innovation and entrepreneurship in the tech and biotech sectors.
- Infrastructure Growth: Government emphasis on transportation, logistics and urban development.
Key Economic Data: Karnataka
| Category |
Details |
| Capital |
Bengaluru |
| GSDP (2023–24) |
₹21.72 lakh crore |
| Growth Rate |
9.3% |
| Per Capita Income |
₹2,65,690 |
| Top Sectors |
IT, Biotechnology, Manufacturing |
| FDI Share in India |
7% |
| Top FDI Sources |
USA, Singapore |
| Cumulative FDI (FY2024) |
₹14,000 crore (Q1) |
| Policy Impact |
Focus on innovation, industrial growth, and infrastructure |
| Recent FDI |
₹3,000 crore (2020–21) |
Latest Insights
- Karnataka attracted ₹14,000 crore in cumulative FDI by Q1 FY2024.
- Bengaluru continues to lead the state’s economic growth, especially in IT and technology.
- Government-backed initiatives are driving infrastructure development and innovation in key sectors.
