Karnataka

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Certainly, Karnataka is blessed with a very understanding bureaucracy when it comes to IT, which is the biggest advantage of this state. But the problem that stays with the state, especially on the business grounds, is that Karnataka still seems to be restricted to Bangalore in ones’ mind. And why not, the development in the ‘Silicon Valley of India’ is much ahead than that of many other parts of the state. IT players consider Bangalore as the byte-basket of the country as it has been the breeding ground of biggies like Infosys and Wipro. You name an IT company and they have their operations in Bangalore (if they dare to dream big). In fact, IBIBO, an IT company, has set up a research development centre at the capital even without being provided with any kind of subsidies by the government (as IBIBO works for the domestic market only). So what makes them fall for this state and not others? “The biggest reason of IBIBO operating in Karnataka is the talent the state has,” reasons Ashish Kashyap, CEO, IBIBO. And every other IT investor seems to hold the same perspective about the state. “If you look at the growth of the Indian economy and simultaneously at the fastest growing companies, most of them are from the IT sector and the sector is very prominently present in Karnataka,” avers Romi Malhotra, Founder and Chairman Dominion, an IT company based in Bangalore.

However, the state dominates not only in IT, but in biotechnology too. The biotech activities in the state account for about 60% of the country’s export pie. Growing at over 35% per annum, Karnataka surely seems to have become a preferred location for biotech among investors. Further, in the past one year, the government has taken many initiatives to promote investments in every sector and not just IT. Result, real estate players too have started shifting their focus on the state. In fact realty major DLF is planning to invest a whopping Rs.60 billion in the state. “DLF will be looking at further investments as and when an opportunity comes, as a matter of fact it is a very investor-friendly state,” a spokesperson from DLF tells 4Ps B&M. Moreover, supporting the investments made by various companies, Rajesh Verma, Executive Vice President, Kingfisher Airlines opines, “The Greenfield projects in places like Bangalore have made them one of the most favourite investment destinations. There is world class infrastructure, room for expansion and all the basic amenities that are required to carry forward any world class project. That is probably the reason why most of the big companies are more than willing to invest there.” Other than that the industry experts believe that Karnataka is going to be a Food & Beverage (F&B) hub in near future. All thanks to its Food Processing Policy 2003 the turnover is expected to be more than around Rs.15 billion in the coming year and is growing at a constant rate of 20%. The state has almost all the biggies in the F&B industry operating in the state.

Though there are hurdles in the path of the growth of the state but it is definitely on the right track and has a lot of potential to grow in terms of tourism and as well as the money coming into the state from the corporate world. Well, the state surely has many faces but then one definitely need an eye to look beyond just IT!

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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