Prominent Contributor: Bengaluru

Bengaluru, popularly known as the Silicon Valley of India, is the capital city of Karnataka. It boasts a flourishing IT sector. With its state-of-the-art facility, Bengaluru provides the companies with a one-stop solution for their operations. The city hosts more than 300,000 software professionals and has emerged as a talent bank for both the software sector and outsourcing industry. The United Nations Development Program (UNDP) has placed Bengaluru among the topmost technological clusters of the world. The UN has ranked Bengaluru fourth in the world as a “Global hub of technological innovation”. Also, per the research paper by Jonas Lang Lasalle, an esteemed Chicago-based investment management firm, Bengaluru is among the top 24 cities worldwide, which are projected to power the “Asian Century”. Bengaluru also has the highest number of engineering colleges of all the cities across the world. Due to these reasons, it has emerged as a hot destination for investors and professionals alike.

 

Overview of Foreign Investments in Karnataka:

 

Foreign investment cleared in Karnataka during 1993–1994 and attracted approximately 169 foreign investors from countries, such as UK, USA, Japan, Switzerland, Germany, and Sweden. From 1991–1997, the Karnataka government approved more than 469 foreign proposals with a total worth of US $1,863.43 million.