Karnataka has a vibrant automobile, agro, aerospace, textile and garment, biotechnology and heavy engineering industry. It has sector specific SEZs with 34 operational ones, 61 with formal approvals and 50 notified ones as of July 2022. Karnataka has a rich talent pool and is known as the Knowledge Capital of India. It is a global start-up and an innovation hub with more than 400 R&D centers. Ranked 1st in NITI Aayog’s India Innovation Index, there are more than 4000 start-ups in Bangalore itself. Even globally, Bangalore ranks 3rd highest in the number of start-ups booming here.

Silicon valley of India

Karnataka has emerged as an IT hub and export of electronics and computer software from the state reached US $ 81.4 billion in FY 2020 and this figure is likely to reach US $150 billion by 2025 as per Government reports. The Beyond Bengaluru Programme has been launched to create technical jobs outside the city as well.

Agriculture Base

As per the Economic Survey 2020-21, the production of sugarcane was 36 million tonnes in 2019-20 in Karnataka. Karnataka is also the third largest producer of plantation crops in India. The main crops grown are rice, ragi, sorghum, maize, pulses other than cashews arecanut, cardamom, chillies and cotton. Karnataka is one of the leading states in horticulture and floriculture in the country..

Tourism

World Heritage Sites like Hampi and Pattadakal are located in the state of Karnataka. Other tourist attractions include Coorg, Gokarna, Chikmagalur and Mysuru. It also boasts of diverse flora and fauna and a long natural coastline of 320 km. In 2020, tourism contributed approximately 15% of the state’s GSDP.

Exports

Merchandise exports from Karnataka were at US $ 25.87 billion in 2021-22 and US $ 12.51 billion in 2022-23 (till August 2022). Other sectors that majorly contribute to the growing exports in the state are biotechnology, computer software and electronics.

Buoyant economy in Karnataka

  • A growth of 7.9% was recorded in Karnataka’s GSDP, as per the advance estimates of Directorate of Economics and Statistics. The growth in GSDP is mainly attributed to the services sector that has grown at a pace of 9.2% and manufacturing sectors growing at 5.1% 
  • Despite erratic weather conditions in the state, the agriculture sector has witnessed a growth of 5.5%
  • The state’s own tax collections were up by 21% up until January 2023, compared to 2021-22
  • An increase of 9% in the budget outlay for the FY 2022-23 has helped the state government to curb its fiscal deficit by ₹8,703 crores

Future business growth prospects in Karnataka

  • Under the Karnataka Industrial Policy 2020-25, Karnataka offers a varied range of fiscal and policy incentives for businesses. They have simplified investment procedures and through the ESDM Policy 2017-22, the Government of Karnataka is facilitating, promoting and developing the ESDM sector in the state.
  • The Karnataka Electric Vehicle and Energy Storage Policy was passed in 2017, and was also amended in 2021, wherein a 15% subsidy was announced on capital expenditure on land value.
  • As per the Department of Promotion of Industry and Internal Trade (DPIIT), in FY 2022, Karnataka was the top FDI equity inflow recipient in India, with a 38% share of the total US $83.57 billion.
  • As of March 2022, Karnataka had an installed power generation capacity of 30,577.59 MW, of which, 9544.90 MW was contributed by thermal power, followed by nuclear, renewable power and hydropower at 698.00 MW, 16,212.02 MW and 3631.60 MW respectively.
  • In April 2022, the Karnataka Government accepted Azure Power’s EOI to develop wind, solar and hybrid renewable energy projects of 1,700 MW capacity at a cost of US $1.62 billion.
  • The new Karnataka Renewable Energy Policy for the period 2022-27 was announced in May 2022. As per the policy, the state intends to position itself as a preferred location to build a sustainable and green energy-friendly economy.
  • Karnataka Aerospace Policy has identified an investment potential of US $12.5 billion during 2013-23 and plans to develop different regions as aerospace clusters in the state. The state government has cleared the Karnataka Aerospace and Defence Policy 2022-27, which is expected to attract investments worth US $5.48 billion.
  • The Karnataka government has signed an MoU with Israel-based ISMC Analog Fab Private Limited, to set up a semiconductor fabrication plant with an investment of US $2.95 billion.

How can a SME/MSME find business opportunities in Karnataka?

Interested individuals/firms/SMEs/MSMEs can bid through the Eprocurement Karnataka login.The eProc Karnataka system enables Tenderers to download the Tender Schedule free of cost and then submit the bids online on eProcurement Karnataka portal. The eProcurement System requires bidders to enroll on the Central Procurement Portal, using a valid Digital Signature Certificate (DSC) and valid email address. 

As a better and faster alternative, you may login on to BidAssist.com – one stop solution for finding relevant government tenders for your business. It’s hassle-free, saves your time and guides you through the entire bidding process. Generally, Eprocurement Karnataka tenders list has over 20,000 active tenders at a given time. Just to take an example, in 2023 NHAI has released tenders worth 3,000 Crores on eProcurement Karnataka.  Similarly, Eprocurement Karnataka tenders list of Labour department is of value worth 200 Crores. Eprocurement Karnataka login portal releases tenders worth 150,000 Crores just in 2022. Keep a tab on all their latest tenders with the help of BidAssist.

BidAssist.com brief

BidAssist makes sure that you don’t miss any tendering opportunity. It saves your time by helping you find relevant business faster. BidAssist has the largest database of tenders & tender results in India & globally, with more than 1.50.000 active tenders from India and 2,80,000 active tenders globally. Tenders are neatly classified into more than 50 categories. Furthermore, BidAssist is the only platform that maps results and tenders so that you can build bidding intelligence to win more tenders. BidAssist also helps to create bidder profiles, product catalogue and helps you prepare your documents. 

How to get relevant tender results on BidAssist?

We all have used google search in this digital era that we live in. So just like google search, it’s very easy to find relevant tenders on BidAssist.com

1. Type in a relevant term or keyword, based on your search in the tenders or tender results section. In fact, users can search for relevant terms/keywords related to any tender even within BOQs (Bill of quantities)

2. On the results page, you will see a list of tenders based on your search query

3. You can filter the tenders further, based on your business preferences with advanced filters like location, the presenting authority, amount, last date and so on

4. You can save these filters to receive periodic notifications and set your frequency in notification settings under the Profile section. If you are interested to get all the latest updates on the development for a specific tender, all you need to do is to “follow” i.e ❤️ that tender

5. You can choose to receive the latest tender notifications on SMS, WhatsApp and Email. Additionally, you can set your notification receiving frequency as daily, weekly, monthly. You’ve got all the controls.

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