News Buzz

Karnataka’s STPI units export services worth Rs 36,459 cr

At a time when the country was amid a nation-wide lockdown, the software technology parks of India (STPI) units in Karnataka exported services worth Rs 36,459 crore during the past three months. Impressively, exports of technology services from the state have grown from worth Rs 5.6 crore in 1991-92 to Rs 174894 crore in 2018-19. This is roughly 41% of the total current national exports.

Established in 1991, STPI Bengaluru centre has expanded to four sub-centres in Mysuru, Hubballi, Mangaluru and Manipal. These units have collectively played an important role in Indian IT services industry’s growth over the years. According to Omkar Rai, director general of STPI, exports clocked by STPI registered units stood at Rs 4,21,103 crore during 2018-19.

STPI stated that its Bengaluru region is in the process of setting up Atal Incubation Centre focusing on healthcare domain, supported by  NITI Aayog, which will be by renowned cardiologist Dr. Devi Prasad Shetty.