Bengaluru - Home to a Wide Range of Heavy and Light Industries

Industry Outlook Team

Located in the Southern part of India, Bengaluru is the third most populous city in the country after the other Metro cities such as Mumbai and Delhi. Bangalore is not only home to a comprehensive range of heavy and light industries, but it is also home to high-tech and service industries. These comprise a myriad of industries such as information technology (IT) and electronics, telecommunications, aerospace, pharmaceuticals, biotechnology, food processing, automobiles, banking and finance, mining, steel, and cement production.

Textiles and local handicrafts are also ubiquitous in the city’s economy. Being a leader in India’s biotechnology industry, Bangalore is the host to numerous leading biotechnology enterprises and start-ups. This is in addition to the R&D facilities available in the city.

Being the IT capital of the country, Bangalore is known as the Silicon Valley of India. With 40 percent of India’s IT industry located in the city, Bangalore is among the most favored destination for IT and other knowledge-based industries.

The city’s IT-related services account for about 55 percent of Karnataka’s state gross domestic product. A large number of software companies are present in the city and this has provided employment opportunities to millions of IT professionals. This, in turn, has given birth to a unique culture of mentorship and networking in the city, thereby making it the biggest technology start-up hub in the country. Bengaluru has attracted the highest quantum of start-up investments at an annual average of USD 4 billion, over the last 3 years.

One of the global leaders in Industrial technology offering innovative solutions and services in the field of energy production, power transmission, power automation, and pollution control is located in Bangalore. Another well-renowned company founded in the year 1964, manufacturing rail coaches, spare parts, and mining equipment is also headquartered in Bangalore. Lastly, one of the world’s largest and Indian state-owned aerospace and defense company is also located in the city.

Promoting rapid human development

In one of the events that took place recently, the Bangalore Chamber of Industry and Commerce (BCIC) has requested the Union Finance Minister to relaunch the Startup India Policy. Also, it wants clear tax incentives and eligibility criteria defined.

During a presentation to the union finance minister, the industry body looked for an extension of the production-linked incentive (PLI) scheme to all manufacturing companies as well as the tourism industry.

According to BCIC’s president TR Parasuraman, “BCIC also has plans to set up an academy of excellence to promote rapid human development to accelerate the “Make in India” program.” The industry body has tied up with some of the leading institutes in India for the same, he said during Bangalore Chamber of Industry and Commerce’s interaction with the finance minister on December 21, 2020.