The Karnataka government said on Thursday it is aiming to mould the state into a $300 billion digital economy in the next five years. GDP at factor cost of Karnataka in India from financial year 2012 to 2021 (in trillion Indian rupees) [Graph]. India still has its share of challenges but not of a size that would threaten it, she said.. Qatar World Cup ambassador says homosexuality is damage in the mind, NEET PG 2022 Counselling: MCC extends mop up round registration deadline, 98 UAPA cases since 2005, 15 transferred to NIA, chargesheet filed in 40: Delhi Police to HC, Why the almond mom style of parenting is harmful for kids, Kim Kardashian honored at CFDA awards, calls for inclusivity, Time is fleeting: Man photographs daughter every week for 20 years. GIM - Invest Karnataka 22,900 crore (US$ 2.95 billion). It is located in the eastern part of India and shares its borders with Bangladesh, Nepal and Bhutan. The ideal entry-level account for individual users. According to the Department for Promotion of Industry and Internal Trade (DPIIT), between October 2019-December 2021, cumulative FDI inflows in Karnataka reached US$ 29.21 billion, the second-highest in India after Maharashtra, and accounted for 23.06% of Indias cumulative FDI inflows. The last time Karnataka recorded a year-on-year GSDP growth in excess of 15 per cent was in 2016-17, when a growth of 15.5 per cent was reported. Years of crippling economic sanctions and pressure from governments in the neighbourhood (mainly China) have forced North Korea to come up with creative ways to bypass these economic punishments. Maharashtra is however regarded as the economic capital of India. Bengaluru: The Karnataka government said on Thursday it is aiming to mould the state into a USD 300 billion digital economy in the next five years. approval from IBEF. Its capital is the city of Hyderabad. You hae dne a otstanding Show publisher information Karnataka Chief Minister Basavaraj Bommai with the state's Budget on Friday. Karnataka eyes USD 300 billion digital economy in five years The skill question in job quota- The New Indian Express Karnataka's capital outlay for 2021-22 is estimated to be Rs 41,358 crore, which is annual increase of 8% over 2019-20. It takes the total tally to 3,60,70,510, including 4,868 cases of the Omicron variant. This page was last edited on 1 November 2022, at 09:56 . GDP stands for Gross Domestic Product. facts. UP juvenile accused of attack on Punjab police HQ: Father says tho How India can contribute to the peace efforts in the Russia-Ukraine war. Tourist arrivals in the state increased from 36.7 million in 2006 to 102.3 million in 2017. There are currently 28 States and 8 Union territories in India. Gujarat is an Indian state located in the western coast of the country. Being the fourth most populous Indian State, It has a population of 101.4 million people as at 2022 and Kolkata is its capital city. The Indian state, Uttar Pradesh is located in Northern India and it was founded in 1950. and over 1Mio. According to Toppr, it was reported that about 56% of Karnatakas workforce was formed by farmers and Agricultural laborers. karnataka gdp News and Updates from The Economic Times - Page 1 Rajasthan is also a mineral-rich state as gold, sandstone, silver, copper, marble, lignite, and rock phosphate are mined and produced in the state. The JSW Group's chairman, industrialist Mr. Sajjan Jindal, announced on November 2, 2022 that his company plans to invest Rs. There you have the list of the top ten richest states in India. Karnataka is the first state which came out with an aerospace policy in the country. Karnataka Bank said the sharp surge in Q2 profit was mainly on account of improved asset quality, healthy growth in . Mumbai, one of largest cities in the world by population, is Maharashtra state capital. Founded on May 1, 1960, the State is located in the western-central peninsular of India. No wonder, Maharashtra, the Indias richest state is called the Gateway of India.. The state will record a GSDP of Rs 20.49 lakh crore in 2021-22 which is a sizable jump from the Rs 17.31 lakh crore recorded in 2020-21, according to estimates presented in the economic survey. It has 34 operational SEZs, as of October 2020. The Economist . For example, FY 2016 started in April 2015 and ended in March 2016. Karnataka - Gross state domestic product at current prices. But there is a list of those who are caught in a funk of low per-head incomes and low growth. subject to copyright or other applicable intellectual property laws and no part of it can be Deputy Chief Minister and the Minister for IT, BT and S&T, C N Ashwath Narayan said, "we will mould Karnataka from the present 52 billion dollar digital economy into a 300 billion dollar digital . Karnataka Economy Growth, GDP, Economy of Karnataka, Tax Revenue Andhra Pradesh is another state among the top 10 richest states in India. The state is situated in southern India and has a population of about 35 million residents. However, only the top 10 of the wealthiest states in India would be examined below. Over the last 10 years, GDP of Karnataka grew substantially from 69.5 million to 204 million INR, lakhs rising at an increasing annual rate that reached a maximum of 18.39% in 2021. In December 2019, the New South Parallel Runway (NSPR) at Kempegowda International Airport became operational. Quick Analysis with our professional Research Service: Toplists & Rankings: Best Employers Portal. Bengaluru, Mysuru, Mangaluru & Hubballi-Dharwad are the major contributors, Belagavi & Kalaburagi are the other important cities contributing to the economy of Karnataka.Coffee and Tea are also grown on the slopes of the Western Ghats in the district of Kodagu, Chikkamagaluru and Hassana.Karnataka produces 70% of India's coffee, of . Nov 02, 2022. The state is also into agriculture as it produces Cash crops like Coconut, Pepper, Cashew, and Natural rubber among others. Karnataka aims at $50 billion bio-economy by 2025 Karnataka aims to contribute $300 billion to country's digital economy We are a team of volunteers and starting a new initiative in a community in the same nihe. Learn more about how Statista can support your business. India: Karnataka GDP 2021 | Statista Tamil Nadu is the highest producer of turmeric, bananas, tapioca, and the second highest producer of natural rubber, groundnut, and mango in India. Karnataka has emerged as the information technology (IT) hub of India. Put another way, Central Capex will have to grow 19 per cent in the second half year-on-year to achieve that. The state has sector specific Special Economic Zone (SEZs) for key industries such as IT, biotechnology, engineering, food processing and aerospace. It is also targeting to garner 50 per cent market share of India's bio-economy (biotechnology-economy) by 2025. The consolidated fiscal deficit of the Centre and states is thus likely to be around 12.7 per cent of GDP, assuming that the Centres fiscal deficit is likely to be undershot from 9.5 per cent to 8.7 per cent of GDP in the current fiscal. population of karnataka 2022 By far the worst state is Bihar, which secured 9 points out of 11. Subscribe Now: Get Express Premium to access the best Election reporting and analysis . karnataka gdp News and Updates from The Economictimes.com. Embassy Group partnered with Ivanhoe Cambridge, a Canadian fund to set up a US$ 500 million investment platform to develop commercial properties, primarily premium office space. Watch stunning transformation, James Cameron calls Avatar films hideously expensive, says he could wrap franchise after third film if its not profitable, Now a $1 billion firm, Zoho announces new R&D investments, Education not business to earn profit, tuition fee should be affordable: SC, T20 World Cup: Englands Mark Wood complains of general stiffness, misses penultimate training session, Ramnath Goenka Excellence in Journalism Awards, Statutory provisions on reporting (sexual offenses), This website follows the DNPAs code of conduct. Top 10 Richest States in India 2022 (By GDP) - ListStripe This statistic is not included in your account. The segment has the potential to increase by 4-fold in its contribution to the bio-economy of the State from around $2 billion to around $7 billion, he explained. Contact The move will allow companies like Dream11, Games24x7 (RummyCircle, My11Circle), MPL, and others to resume operations in the state, which were suspended since October 5, last year, when the state government enacted the Karnataka Police (Amendment) Act, 2021. It is surrounded by the Arabian Sea on the west, Goa on the northwest, Maharashtra on the north, Andhra Pradesh on the east, Tamil Nadu on the southeast, and Kerala on the southwest. SBI economists cut the FY22 GDP growth rate projections by 60 basis points as more states are enforcing restrictions. India is suffering the world's worst outbreak of COVID-19 cases, with deaths crossing 2.22 lakh and new cases above 3.5 lakh daily. The revenue receipts of state governments are expected to improve, backed by an economic recovery, resulting from a large section of the population receiving vaccinations, the agency said, adding that this would lead to states further easing restrictions on business and commercial activity. Its per capita GSDP of INR 3.05 lakh (estimated for FY22) is the highest among the top five states. grown in the range of 1.3-1.7 times in FY22 from the FY18 levels on average while grain exports soared to over USD 50 billion, says an SBI Research report. As at 2022, the newest state in India is Telangana which was founded on June 2, 2014. 16 Oct, 2022, 12.00 PM IST. Corporate solution including all features. We are encouraging new-age technologies, driving digital growth and transformation. In the Ballari-Hospete iron ore belt, JSW runs a steel plant in Vijayanagar, Karnataka. Having a population of over 60 million, Gujarat is the 9th most populous state in India. West Bengal was founded in 1950, on January 26 and since the 1980s, it has been among the wealthiest states in India because of its profitable trading system. In June 2021, the Karnataka government amended the policy to offer more impetus to the electric mobility sector. Directly accessible data for 170 industries from 50 countries Careful planning, targeted facilitation, fiscal prudence and understanding of the strengths of the Indian economy have helped the Narendra Modi government make India an island of calm amid challenging global developments, said Finance Minister Nirmala Sitharaman at an event on Wednesday. Karnataka's merchandise exports to touch $35.3 bn by FY25: India EXIM Gujarat was founded on May 1, 1960 and Gandhinagar currently serves as the states capital city. The biggest contributor to the surge in GSDP has been the services sector the bulwark of the state economy with a 15 per cent growth in GSDP from Rs 10.40 lakh crore to Rs 12.06 lakh crore. In 2021-22, expenditure (excluding debt repayment) is estimated to be 3% higher than the budget estimate. Karnataka aims at $50 billion bio-economy by 2025: Report The revised estimate for capital outlay in 2020-21 is Rs 37,146 crore which is 14% lower than the budget estimate. This makes it the city with the highest year on year GDP growth. According to industry experts, Indias top cities like Gurugram, Bengaluru, Hyderabad and Pune are expected to see favourable housing demand. Telangana despite being the newest Indian State, is one of the wealthiest states in India. Closely following Bihar is Jharkhand and Odisha with 8 of the 11 variables being worse than India's. Export of electronics and computer software from the state reached US$ 81.4 billion in FY20 and US$ 38.8 billion in FY21 (until November 2020), respectively. It has a GDP of 9.78 lakh crore, which is equivalent to 130 billion US dollars. While the report estimates the bio-economy of the state at USD 22.6 billion (Rs 1,67,240 crores) and growing at present, it is projected to USD 42 billion by 2025. Uttar Pradesh is the most populous state in India, having a population of 243.4 million residents. Related: The Top 10 Richest States in Nigeria. In plain English, in 2019-21, for nine out of the 11 variables chosen, Bihar fared worse than the corresponding all-India average. Are you interested in testing our corporate solutions? This Indian State is popular for its high-tech industries as Bangalore, its capital city has numerous high-tech hubs and is widely known for its shopping complexes and night life. By Express News Service. In FY22, Karnataka is estimated to grow at a robust rate of 18.4 per cent compared to 17.5 per cent for India, says the economic survey of Karnataka. Yediyurappa on Thursday. As a result, in FY21, the industrial share has decreased to 19.4 per cent (gross state value added or GSVA from 21.3 per cent in FY20) while services remain at 66.3 per cent and agriculture jumped to 14.3 per cent (from 12.3 per cent in FY20). The economy of Gujarat is the fourth largest in India with GDP of 16.8 lakh crore, enabling it to be listed among the richest states in India. Please create an employee account to be able to mark statistics as favorites. India's financial year starts in April and ends in March. The 2021-22 saw the addition of net new payrolls surpass the pre-pandemic levels of 2019-20, according to the latest Economic Survey. Karnataka received more than $16 USD billion in FDI in the pandemic struck FY21 signifying the potential of its technology based growth engines, the economic survey reads. Its various industries comprises of manufacturing, technology, tourism, fashion, media, aerospace, oil, international trade and many other industries. This has led to demand for imposition of nationwide strict lockdowns to stem the spread of the virus - a move that the Modi government has so far avoided after the economic devastation last year from a similar strategy. The state of Kerala is an Indian state located in the southwestern coast of India and is one of the smallest Indian states by area. At current prices, Karnataka's gross state domestic product (GSDP) is projected to be ~Rs. Telangana also has numerous minerals and it is one of the top producers of barites, limestone, feldspar, quartz, kainite, and dolomite in India. The Centre had, in May last year, allowed states to raise 2% of their state GDP to tide over the challenges posed by Covid-19 pandemic, but tied half of these funds to states implementing critical citizen-focussed reforms, pegging the size at Rs 91,667 crore. In May 2022, the Karnataka Government announced the new Karnataka Renewable Energy Policy for the 2022-27 period. 70% of the global food supply comes from smallholder farmers and more than 50% of the Indian workforce is into agriculture and allied sectors that contribute to just 20% of Indias GDP. Keralas main economy is diversified on Tourism, Hospitality Industries, Information technology and Medical services. 4.9. 17 Jul, 2022, 06.37 PM IST. Watch, Samantha Ruth Prabhu breaks down as she speaks about battling myositis: 'I'm in a difficult position, I hope to survive this', Watch: This teachers lyrical lesson on the Hindi alphabet has everyone singing along, Food blogger tries jalebi with aloo ki sabzi at famous Mathura shop. The state has had to face a lot of challenges over the past two years due to the onset of the Covid pandemic which has resulted in a slowdown of the economy. The report calls for a re-evaluation of the state's growth drivers in the light of the pandemic and the upcoming golden targets of reaching USD 500 billion GDP by 2026 and USD 1 trillion GDP by . The major food crop produced by Telangana is Rice. Bommai releases book on 'Karnataka: A $1 trillion GDP Vision' (November 23, 2021). Karnataka eyes USD 300 billion digital economy in five years Maharashtra has a population of 126 million and it is widely known for being the second most populous Indian state after Uttar Pradesh. Top 10 Richest States in India 2022 (By GDP), Top 10 Most Expensive Dogs in the World 2022. "Gdp at Factor Cost of Karnataka in India from Financial Year 2012 to 2021 (in Trillion Indian Rupees). "One of the key goals of the State is to achieve 50 per cent market share of the national bio-economy target of 100 billion US dollars . The Karnataka Digital Economy Mission (KDEM) aims for the State's contribution to India's digital economy to attain $300 billion by 2026 by enabling holistic development of the tech sector IT, IT Bengaluru | Updated: March 6, 2022 7:46:33 am. Infringements are subject to prosecution under the applicable laws. For consent Although allied services sectors, like the hospitality and tourism services, suffered during the pandemic, the IT services sector, which is a key component of the economy in Karnataka, has thrived in the last two years on account of a surge in demand for IT-related services in the Covid hit world. Agriculture, Livestock, Manufacturing and Services Industries are some of the main contributors to Telanganas economy. More than 21 lakh people are employed in the software industry with high-paying jobs centred mostly in Bengaluru city. The state is popular for its beaches, historic capitals and temple towns. Nationally, the bio-economy valued at USD 62.5 billion contributed 2.3 per cent of the country's USD 2.8 trillion GDP in 2019, it said, adding that Karnataka contributes more than one-third to . You need a Statista Account for unlimited access. The primary economy sources of West Bengal are Agriculture, horticulture and fisheries. Karnataka Aerospace Policy has identified an investment potential of US$ 12.5 billion in this sector during 2013-23 and plans to develop aerospace clusters in different regions of the state. This new composition with dampened industrial contribution has continued in FY22, the economic survey for Karnataka for the year 2021-22 has reported. West Bengal is one of the richest states in India, having a GDP of 13.54 lakh crore. According to an intimation notice issued by the finance ministry, the GoM created to examine the Sikkim government's proposal to levy the cess will meet on Thursday. Karnataka GDP, 2011-2021 - knoema.com . Bengaluru: Chief Minister Basavaraj Bommai on Tuesday October 18 indicated to prepare an action plan for creating $1 trillion GDP for Karnataka. Karnataka currently contributes $100-110 billion to India's digital economy. Karnataka eyes 50% of $100 billion bio-economy by 2025 As per the study, merchandise exports from Karnataka in 2019-20 were valued at $16.6 billion, and registered an average annual growth rate of 4.8 per cent, during 2010-11 to 2019-20. Tamil Nadu is a state located in the Southern region of India. Access to this and all other statistics on 80,000 topics from, Show sources information Bangalore economic growth | Bengaluru GDP - Karnataka.com "Karnataka has demonstrated economic resilience during the Covid - 19 pandemic and has taken several policy decisions to accelerate growth. BENGALURU: Chief Minister Basavaraj Bommai on Tuesday said Karnataka's economy will pick up pace by 2025, and contribute $1.5 trillion to transform the country into a . As a Premium user you get access to the detailed source references and background information about this statistic. Maharashtra is richest state in India, having a GDP of 32.24 lakh crore which is equivalent to US$430 billion. Soil degradation and water scarcity caused by overuse of resources and excessive use of chemical inputs are the two most significant challenges to farmers. Also about 70% of Shrimps in India are produced by Andhra Pradesh. As a Premium user you get access to background information and details about the release of this statistic. The total expected GSDP of Karnataka in 2022-2023 is about $240 billion. 'Karnataka: A $1 Trillion GDP Vision' book launched November 23, 2021. You need to know that the ranking of this list of the 10 richest states in India is based on Indian states with the highest GDP. Uttar Pradesh has an estimated GDP of 17.05 lakh crore ($240 billion), making it one of the richest states in India by GDP. Karnataka's bio-economy to reach $50 billion by 2025 The growth was in the range of 10 per cent for two subsequent years before slipping below 10 per cent in the Covid years. Stick to this article as you are about to find out the top 10 richest states in India by GDP 2022. Land area in India 2021, by state and union territory, Production volume of pepper India 2021, by state, Livestock inventory in India 2019, by state, Literacy rate in rural and urban Karnataka 2011 by gender. The Fastest Growing World's Top List Hub, Celebrity Net Worth, and Other Knowledge Acquisitions. Copyright 2022 Bennett, Coleman & Co. Ltd. All rights reserved. Tamil Nadu is the second wealthiest state in India with a GDP of 32.24 lakh crore which is estimated to worth $430 billion. Economy of South India - Wikipedia Bengaluru, Nov 19 () The Karnataka government said on Thursday it is aiming to mould the state into a USD 300 billion digital economy in the next five years. By the year 2035, the city of Bengaluru in Karnataka will have a year on year GDP growth of 8.5%. Telangana state is bordered by Maharashtra to the north, Chhattisgarh to the northeast, the state of Karnataka to the west, and Andhra Pradesh to the East and also to the south. Karnataka - GDP of 16.29 lakh crore ($228 billion) The fifth wealthiest state in India is Karnataka, having a GDP of 16.29 lakh crore which when converted equals $228 billion. While India is also lagging behind on SDG targets, it is still an outlier as far as performance on the 2030 targets is concerned. 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The state grew by 7.2 per cent in nominal terms during the pandemic-struck FY21 compared to the -3 per cent recession of the national economy.