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India - Bangalore Karnataka
Foreign Direct Investment in Bangalore Karnataka India
The state has been proactive in encouraging private participation in various
sectors. Karnataka is the fourth largest recipient of FDI in the country. In
2004, it attracted FDI to the tune of US$ 5.4 billion for 160 projects. Investor
friendly policies have spurred the growth of MNCs in various sectors in the
state.
Majority of IT activity in Karnataka is concentrated in Bangalore. NASDAQ
opened its office in Bangalore on Feb 12, 2001. Karnataka has a strong base
in VLSI, Telecom and other high technology services, out of which more than 150
companies are foriegn equity companies. There are more than 100
multinational companies that have set-up operation in Bangalore.
In the year 2001 Bangalore saw a cumulative investment of around US $1.3 billion
in the software industry. About 146 new software industries during 2001 and
about 110 during 2002 have been established and the total number of software
professionals is over 80,000. During 2002-03 about 116 new Software Technology
Park Units were established.
Information Technology industries will be exempt from payment of Entry
Tax on computer hardware, computer peripherals and other capital goods including
captive power generation sets, during implementation stage which can be extended upto 5 years from the date of commencement of implementations.
Infosys has a global footprint with offices in 22 countries and
development centers in India, China, Australia, UK, Canada and
Japan. Infosys
has over 80,000 employees of 66 nationalities. Fortune magazine ranked Infosys #
10 in its ‘Top Companies for Leaders 2007’ list. The magazine conducted a survey
of companies who “inspire, nurture and empower a new generation of global
leaders.” Fortune partnered with Hewitt Associates and the RBL Group, and
evaluated 550 companies that groom future leaders.
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