Economic Overview & Business Opportunities
BangaloreThe Economy of Bangalore is an important part of the economy of India as a whole. The establishment and success of high technology firms in Bangalore has led to the growth of Information Technology (IT) in India. IT firms in Bangalore employ about 35% of India’s pool of 1 million IT professionals and account for the highest IT-related exports in the country.
The city’s income gross domestic product in 2004-05 was valued at INR 433.8 billion.
Bangalore is nicknamed the Silicon Valley of India. The name signifies status of Bangalore as a hub for information technology (IT) companies in India and is a comparative reference to the original Silicon Valley, based around Santa Clara Valley, California, a major hub for IT companies in the United States.
Not only has the IT Sector grown abundantly in Bangalore, it has also given rise to a number of other additional support services such as Company Formations, Branding, HR, Marketing, Accounting, Legal, Taxation, Real Estate etc. which also contribute towards the economic growth and business development opportunities in Bangalore.