Karnataka

Karnataka is the manufacturing hub for some of the largest public sector industries in India, including Hindustan Aeronautics Limited, National Aerospace Laboratories, Bharat Heavy Electricals Limited, Indian Telephone Industries, Bharat Earth Movers Limited and Hindustan Machine Tools, which are based in Bangalore. Many of India's premier science and technology research centers, such as Indian Space Research Organization, Central Power Research Institute ,Bharat Electronics Limited and the Central Food Technological Research Institute, are also headquartered in Karnataka. Mangalore Refinery and Petrochemicals Limited is an oil refinery located in Mangalore.

Since the 1980s, Karnataka has emerged as the pan-Indian leader in the field of IT (information technology). As of 2007, there were nearly 2,000 firms operating out of Karnataka. Many of them, including two of India's biggest software firms, Infosys and Wipro are also headquartered in the state.^[65] Exports from these firms exceeded Rs. 50,000 crores ($12.5 billion) in 2006-07, accounting for nearly 38% of all IT exports from India.^[65] All this has earned the state capital, Bangalore, the sobriquet Silicon Valley of India.^[66]

Seven of India's leading banks, Canara Bank, Syndicate Bank, Corporation Bank, Vijaya Bank, Karnataka Bank, Vysya Bank and the State Bank of Mysore originated in this state.^[69] The coastal districts of Udupi and Dakshina Kannada have a branch for every 500 persons -- the best distribution of banks in India.^[70] As of March 2002, Karnataka had 4767 branches of different banks with each branch serving 11,000 persons, which is lower than the national average of 16,000.



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