Karnataka – Industrial and Economic Development

Karnataka has always been in the limelight because of the economic and industrial development in India. With many inborn talents and capabilities of business oriented citizens, Karnataka offers a superlative option for many investment opportunities. Also the Karnataka’s industrial development has been pushed with on-going efforts from government.Why so much of industrial and economic development has been witnessed in the state? Few reasons behind these are:Availability of the best human resource and trained technical personnel in Engineering and Management.
Upgraded research facilities that have been originated in Central Government laboratories.
Well developed transport facilities with well connected road, railway and air facilities.
Superb communication facilities.To promote the industrial development further, state government has developed many organizations and institutions. These maintain and support the private sector and its growth. Also it is the stunning efforts by the Directorate of Industries and Commerce that has led to the fantastic and unparallel industrial growth.In order to have further growth, along with fiscal incentives and benefits, many other kinds of assistance in the form of water, power and land is also supplied by the Directorate. To assist small enterprises, the Technical Consultancy Services Organization is very active and do not miss any chance of helping the SMEs. In addition to all these Small Scale Industries Development Corporation, The Karnataka State Finance Corporation, Karnataka Electronics Corporation and Industrial Investment Development Corporation provides add on advantage of finance, raw material, sheds for the factory and equity funding.Constant efforts from varied banking, industrial and trade organizations in Karnataka has further pushed the industrial and economic development in the state. There are 123 such associations that are affiliated to the Federation of Karnataka Chambers of Commerce and Industries (FKCCI), regarded as a parent body checking such developments.Automobile, aeronautics, bio technology, plantation and software industry are few to name in the ocean of industries in the state. In addition to this, Karnataka is a manufacturing center of some big industries like National Aerospace Laboratories, Hindustan Aeronautics Limited, Indian Telephone Industries, Bharat Heavy Electricals Limited, Bharat Earth Movers Limited and Hindustan Machine Tools. These industries are located in Bangalore that is also regarded as a technical hub of the country with many multinational IT corporations. So much of business and its work transactions take place through Karnataka tenders. These tenders contained detailed information on all the requirements, bid procedure, submitting date and all.Going further into the details of businesses, it has been seen that Mangalore no way lagging behind. It is a home to the big Mangalore Refinery and Petrochemicals Limited. To give it a further push battery charger tender are long awaited along with other such technical and business oriented tenders.Apart from these, with so much of matured brains in the state, Karnataka is headquarter of many chief science and technology research centers. These include Indian Space Research Organization, the Central Food Technological Research Institute and Central Power Research Institute. Most of the Karnataka tenders are issued by the Karnataka State Government and its varied departments.Information Technology has no solid roots across India other than Karnataka with Bangalore being the hub. It has a great contribution to the economy of the state. Second to this is the biotechnology sector in the state that is developing at a very fast pace. It is one of the premier contributors to the economy and industrial development in the state. In addition to this, Karnataka also contributes 75% of the India’s floriculture that is an upcoming industry across the world.If we are taking about economic development then how can we neglect the banks and their development. Major seven banks such as Canara Bank, Vysysa Bank, State Bank of Mysore and Syndicate Bank have originated in Karnataka. Also for so much of development cannot proper infrastructure and road construction is required. So Karnataka tenders concerning the roads and their development are also the major ones that are issued by the Karnataka Road Corporation Development.All in all it can be said that Karnataka is the technological as well as manufacturing hub of the country that has developing owing to the combined efforts of government and private organizations. Karnataka tenders have helped both the sectors to develop and given the required infrastructure for such a massive industrial as well as economic development.