Thu Nov 21 16:28:58 UTC 2024: ## Karnataka’s IT Sector Soars, Driven by Bengaluru Tech Summit

**Bengaluru, November 21, 2024** – Karnataka’s software and IT services exports surged by 27% in fiscal year 2023-24, reaching ₹4.11 lakh crore (approximately $49 billion USD), according to IT Minister Priyank Kharge. This represents a significant increase from ₹3.2 lakh crore the previous year and further solidifies Karnataka’s position as a leading IT hub, accounting for an increased share of India’s total software exports.

The growth extends beyond Bengaluru, with Tier 2 and Tier 3 cities contributing at least ₹10,000 crore to the state’s IT exports. Nationally, STPI-registered units saw exports exceeding ₹9 lakh crore in FY24.

At the closing ceremony of the Bengaluru Tech Summit (BTS) 2024, Kharge announced the launch of Nipuna, a skills initiative in collaboration with tech giants like IBM, Intel, Microsoft, and NVIDIA. Nipuna aims to train 100,000 young people annually, transforming Karnataka into a global talent hub.

The three-day BTS 2024, attracting participants from 51 countries and 521 global speakers, also featured an investor connect event where over 300 startups pitched to 100 investors. The state government plans to introduce Start-up Awards at next year’s summit.

Kharge highlighted the state’s groundbreaking Global Capability Centre (GCC) policy, projecting the creation of 500 additional GCCs, over 3.5 lakh new jobs, and a $50 billion contribution to Karnataka’s economy by 2029.

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