State software exports boom

IT and ITES exports from Karnataka touched a record level of Rs. 18100 crores or US $ 4.1 billion for 2003-2004 growing at 46% over last year, the highest growth since the boom of 2000. 170 new companies commenced operations from Bangalore including Google, Yahoo, Kyocera, AMD, Juniper, Reuters, Applied Materials and Infinera. Hardware exports touched Rs 1700 crores while BPO exports touched Rs 2270 crores. Significantly, about Rs. 700 crores of this came from Mangalore, Mysore and Hubli. Exports from Karnataka comprise a whopping 36% of all IT-ITES exports from India for 2003-2004.