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For updated information, please visit www.ibef.orgDecember 2020
KARNATAKA
2
Executive Summary 3
Introduction 5
Economic Snapshot 10
Physical Infrastructure 16
Social Infrastructure 25
Industrial Infrastructure 28
Key Sectors 30
Key Procedures & Policies 40
Appendix 51
Table of Contents
3
Executive summary…(1/2)
1
2
3
4
Strong growth in GSDP• At current prices, the Gross State Domestic Product (GSDP) of Karnataka stood at about Rs. 16.99 trillion (US$
241.04 billion) in 2019-20.• The GSDP (in Rs.) of the state grew at a CAGR of 11.56% between 2015-16 and 2019-20.
• Karnataka has vibrant automobile, agro, aerospace, textile & garment, biotech & heavy engineering industries. Thestate has sector-specific SEZs for key industries such as IT, nanotechnology, biotechnology, engineering, foodprocessing and aerospace.
Vibrant industrial base
One of the preferred investment destinations• The cumulative FDI inflow in the state reached US$ 46.61 billion between April 2000 and March 2020, the third
highest in India after Maharashtra and New Delhi. It accounted for a share of 9% of India’s cumulative FDI inflow.• Karnataka attracted Rs. 1.20 lakh crore (US$ 16.38 billion) investments during COVID-19
• Karnataka is the IT hub of India & home to the fourth largest technology cluster in the world. It has 23 operationalIT/ ITeS SEZs, five software technology parks & dedicated IT investment regions.
• Export of electronics and computer software from the state reached US$ 42.16 billion in FY20 (till November2019). Export of IT and electronic products accounted for around 38.99% share in India's electronics and computersoftware export and 76.36% share in Karnataka’s overall export.
IT hub of India
Source: Visvesvaraya Trade Promotion Centre, Karnataka Economic Survey 2019-20
4
Executive summary…(2/2)
5
6
7
8
Strong growth in export• In 2020-21, total exports of the state stood at US$ 9.01 million (as of November 2020). Sectors such as iron &
steel, petroleum products, electronic instruments and cotton accessories are major contributors in the overallexports from the state.
• Sugarcane is the key crop of the state, with production of ~39.6 million tonnes in 2019-20**. The state’s total foodgrain production was estimated to be 11.9 million tonnes in 2019-20**. Karnataka is also the third largest producerof plantation crops in the country.
Significant agriculture base
Strong growth in tourism sector• Karnataka boasts of a diverse flora & fauna & a 320km natural coast line, which makes it a nature tourist's
paradise. Tourist arrivals in the state increased from 214.85 million in 2018 to 228.54 million in 2019, at a growthrate of 6.37% between 2018 and 2019. The state has world heritage sites at Hampi and Pattadakal. The sectorcontributes 14.8% to GSDP of Karnataka; plans are afoot to expand to 26% by 2020.
• Karnataka has 52 universities, 4,519 pre-university colleges, 535 Technical Institutions, 206 engineering colleges &314 polytechnics, 47 medical colleges & 38 dental colleges.
• The state also houses 401 R&D centres; around 400 of the Fortune Global 500 companies outsource their ITservices to firms in Bengaluru.
Strong knowledge infrastructure
Source: Economic Survey of Karnataka 2019-20, Karnataka State Budget 2020-21, Ministry of Tourism,GoI,**2019 - 20 As per 2ndAdvance Estimates.
5
INTRODUCTION
6
Karnataka fact file
• Karnataka is located in the southern region of India. The state is surrounded by the Arabian Sea in the west, Goa in the northwest, Maharashtra in the north, Andhra Pradesh in the east, Tamil Nadu in the southeast, and Kerala in the southwest.
• Languages spoken are Kannada, Tulu, Kodava, Hindi and English.• Some of the prominent cities in the state are Ankola, Bengaluru, Bagalkot, Belgaum, Bidar, Bijapur, Chikmagalur, Chitradurga, Dandeli, Hubli-
Dharwad, Mangalore, Mysore and Shimoga.• Karnataka has a tropical climate with three major seasons: warm and dry from February to May, monsoon from June to October and winter from
November to January.
Key Insightsadministrative districts: 30
319 persons per sq kmPopulation density
68.1%Female literacy rate
BengaluruCapital
192,000 sq.km.geographical area
75.6%literacy rate
61.1 milliontotal population
82.5%Male literacy rate
973:1000Sex ratio
(females per 1,000 males)
Source: Economic Survey of Karnataka 2019-20, Census 2011 Office of Registrar General, India.
Source: Maps of India
7
Advantage: Karnataka
Rich talent pool• Karnataka is termed as the
Knowledge Capital of India.• The state has successfully
attracted skilled labour, especially,in the knowledge sector. Karnatakais among the states that produce alarge number of doctors, engineersand medical technicians in thecountry.
Policy support• Wide range of fiscal and policy incentives for
businesses under the Karnataka IndustrialPolicy, 2020-25 with simplified procedures forinvestment.
• In January 2017, Karnataka Department ofCommerce and Industries introduced an NRIpolicy to attract investments from non-residentKannadigas.
High economic growth• GSDP expanded at a
CAGR of 11.56 %between 2015-16 and2019-20
• Buoyant services (IT,tourism) and industriesdriving economic growth.
• Sector specific SEZs andSIRs facilitating growth..
Infrastructure• Well-developed social, physical and
industrial infrastructure and substantial portinfrastructure.
• Well-developed telecom infrastructure.• Excellent healthcare facilities.
Source: Ministry of Statistics and Programme Implementation, News articles
8
Karnataka in figures
Karnataka’s Contribution to Indian Economy (2018-19)
Social Indicators
Physical Infrastructure in Karnataka
Industrial Infrastructure Investments
GSDP as a percentage of all states’ GSDPIndia: 100.0 | Karnataka: 7.93
Per capita GSDP* (US$)India: 2,046.76 | Karnataka: 3,258
GSDP growth rate** (%)India: 11.5 | Karnataka: 13.94
Literacy rate (%)India: 73.0 | Karnataka: 75.6
Operational PPP projects (No.)India: 1,824 | Karnataka: 139
Operational SEZs (No) (as of February 2020India: 240 | Karnataka: 32
Installed power capacity (MW) (November 2020)India: 374,199.04 | Karnataka: 29,908.45
Internet subscribers (in June 2020) (million)India: 749.07 | Karnataka: 46.11
Wireless subscribers (million) (September 2020)India: 1,148.58 | Karnataka: 67.06
National highway length (km) (as of September 2019)India: 132,499.5 | Karnataka: 7,334.8
Major and minor ports (No.)India: 13+187 | Karnataka: 1 + 10
Cumulative FDI equity inflow (from October 2019 to September 2020) (US$ million)India: 30,443.59 | Karnataka: 7,948.53
GSDP
Birth rate (per 1,000 population) (2018)India: 20.0 | Karnataka: 17.2
Airports (No.)India: 125 | Karnataka : 5
Note: GSDP, per capita GSDP figures are taken at current prices, For source refer to Annexure
9
Karnataka Vision 2022
1 INFRASTRUCTURE• Build infrastructure to boost productive
potential of the economy.• Various metro rail and mono rail
projects are in progress.
8 POOR AND BACKWARD CLASSES• Increase rural incomes through
greater viability of agriculture andallied activities.
• Bridge the gap between sociallybackward and vulnerable groups andrest of the people.
7 HEALTHCARE/SOCIAL AMENITIES• Improve access and availability of
quality healthcare for all.
6 TOURISM• Preserve and promote Karnataka’s
rich heritage.• Karnataka Tourism Vision Group
(KTVG) was set up in October 2013 toadvise on promoting tourism in state.
5 WOMEN EMPOWERMENT• Enhance opportunities and empower
women across economic, social andpolitical spheres.
2 EDUCATION/SKILL DEVELOPMENT• Develop the state as a vibrant
knowledge society.• Focus on job oriented growth through
skill development of the workforce.
3 GOVERNANCE• Better governance through wider
participation and deep democraticdecentralisation.
• Encourage transparency andaccountability.
4 INDUSTRY• Build and sustain Bangalore’s
leadership in science, technology andknowledge based industries.
• Achieve a sustainable and orderlyprocess of industrialisation andurbanisation.
7
63
2
8
54
1
10
ECONOMIC SNAPSHOT
11
2,48
7 2,77
7 3,21
1
3,33
2
3,59
5
162,
796
186,
308
206,
929
232,
874
253,
444
0
50000
100000
150000
200000
250000
300000
-
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
2015
-16
2016
-17
2017
-18
2018
-19
2019
-20
US$ Rs.
Economic snapshot – GSDP
GSDP at current prices
At current prices, the Gross State Domestic Product (GSDP) ofKarnataka stood at Rs. 16.99 trillion (US$ 241.04 billion) and isestimated to reach Rs. 18.06 trillion (US$ 256.17 billion) in 2020-21.
The GSDP of the state increased at a CAGR of 12.92% between2015-16 and 2019-20.
CAGR 11.56%
GSDP per capita at current prices
CAGR 11.70%
The state’s per capita GSDP was Rs. 253,444 (US$ 3,595) in 2019-20.
The per capita GSDP (in Rs.) increased at a CAGR of 11.70%between 2015-16 and 2019-20.
Source: Directorate of Economics & Statistics of Karnataka, Central Statistics Office, Economic Survey 2019-20Note: BE- Budget Estimate
159.
67
180.
23 210.
64
220.
98
241.
04
256.
17
10.4
5 12.0
9 13.5
8 15.4
4 16.9
9
18.0
60
2
4
6
8
10
12
14
16
18
20
0
50
100
150
200
250
300
2015
-16
2016
-17
2017
-18
2018
-19
2019
-20
2020
-21B
E
US$ billion Rs. trillion
12
Economic snapshot – NSDP
NSDP at current prices
The Net State Domestic Product (NSDP) of Karnataka was recordedat about Rs. 15.50 trillion (US$ 219.93 billion) in 2019-20.
The NSDP of the state grew at a CAGR of 13.00% between 2015-16and 2019-20.
CAGR 13.00%
NSDP per capita at current prices
CAGR 11.78%
The state’s per capita NSDP in 2019-20 was Rs. 231,246 (US$3,280.55).
The per capita NSDP (in Rs.) increased at a CAGR of 11.78%between 2015-16 and 2019-20.
Source: Directorate of Economics & Statistics of Odisha, Central Statistics Office, Economic Survey 2019-20Note: Exchange rates used are averages of each year, provided on page 53
145.
26 164.
58 192.
15
201.
62 219.
93
9.51 11
.04 12
.38 14
.09 15
.50
0
2
4
6
8
10
12
14
16
18
0
40
80
120
160
200
240
2015
-16
2016
-17
2017
-18
2018
-19
2019
-20
US$ billion Rs. trillion
2,26
2.57
2,53
5.90
2,92
8.86
3,04
0.16
3,28
0.55
148,
108
170,
133
188,
765
212,
477
231,
246
0
30000
60000
90000
120000
150000
180000
210000
240000
270000
0
600
1200
1800
2400
3000
3600
2015
-16
2016
-17
2017
-18
2018
-19
2019
-20
US$ Rs.
13
Economic snapshot – Percentage distribution of GSVA
In 2019-20, the tertiary sectorµ contributed 66.19% to the state’sGSVA at current prices, followed by secondary sector (22.29%) andprimary sector (11.52%)
At a CAGR* of 13.59%, tertiary sector was the fastest growingamong the three sectors between 2015-16 and 2019-20. The growthwas driven by trade, hotels, real estate, finance, insurance, transport,communications and other services.
Secondary sector grew at a CAGR* of 11.31% between 2015-16 and2019-20. This was driven by manufacturing, construction andelectricity, gas and water supply.
Primary sector grew at a CAGR* of 10.22 % between 2015-16 and2019-20.
Visakhapatnam port traffic (million tonnes)GSVA composition by sector
12.57% 11.52%
23.39% 22.29%
64.04% 66.19%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2015-16 2019-20
Primary Sector Secondary Sector Tertiary Sector
10.22%
13.59%
11.31%
CAGR*
Source: Directorate of Economics & Statistics of Karnataka, Central Statistics Office, Sector-wise %, share of GSDP Note: *CAGR in Rs. term
14
Economic snapshot – FDI inflow & investments
Source: Department for Promotion of Industry and Internal Trade, Directorate of Economics and Statistics, Government of Karnataka
Investment intentions in terms of IEMs filed, LOIs/DILs issued in Karnataka
The state has a stable political environment. Karnataka is ranked fifth in terms of attracting private sector investment in India. According to
Department for Promotion of Industry and Internal Trade (DPIIT), cumulative FDI inflow stood at US$ 46.61 billion between April 2000 and March
2020, the third highest in India after Maharashtra and Delhi, and accounted for a share of 18% of India’s cumulative FDI inflow.
251 investment intentions worth Rs. 84,392 crore (US$ 11.95 billion) were filed in Karnataka during 2019.
With a private equity (PE) and venture capital (VC) investment of US$ 2.51 billion from 280 deals, Karnataka stood at the second position among
all the other states.
Between October 2019 and September 2020, FDI inflow in Karnataka stood at US$ 7,948.53 million. The state ranked 3rd in India in terms of FDI
inflow.
106
285
194
142
251
4.84 23
.93
23.5
0
13.2
5
11.9
5
0.0
50.0
100.0
150.0
200.0
250.0
300.0
2015 2016 2017 2018 2019
Number of Investment Intentions Proposed Investments (US$ Billion)
FDI Inflow to Karnataka (US$ billion)
8.23 2.55 1.893.44
4.12 2.136.45
8.57 6.73
8.94 46.61
0
10
20
30
40
50
FY01
-11
FY12
FY13
FY14
FY15
FY16
FY17
FY18
FY19
FY20
FY01
-20
15
Economic snapshot – Export
Iron & steel is the top export item from Karnataka, accounting for ~11% of the total exports in FY21*, followed by petroleum products (7%) and
electronics instruments (7%).
Merchandise export from Karnataka reached US$ 17.36 billion in 2018-19 and US$ 16.64 billion in 2019-20.
Karnataka is home to over 5500+ IT/ITES companies and ~750 MNCs which contribute more than Rs. 58 lakh crore (US$ 58 billion) of exports,
giving direct employment to over 1.2 million professionals and creating over 3.1 million indirect jobs.
Merchandise Export from Karnataka (US$ billion)
23.62
19.26 19.6818.05 17.36 16.64
9.01
0.00
5.00
10.00
15.00
20.00
25.00
2014
-15
2015
-16
2016
-17
2017
-18
2018
-19
2019
-20
2020
-21*
Principal Commodities Exported in April-November 2020
11%
7%
7%
6%
6%5%
5%3%
51%
Iron & Steel
Petroleum products
Electronicsinstruments
RMG cottonincludingaccessoriesDrug formulations,biologicals
Electric machineryand equipment
Source: Directorate General of Commercial Intelligence and Statistics, Ministry of Commerce and IndustryNote: *- till November 2020
16
PHYSICAL INFRASTRUCTURE
17
Physical infrastructure – Roads
Source: Ministry of Road Transport & Highways, Government of Karnataka, State Budget, 2020-21
Karnataka provides efficient public transport to people of different income groups across the state as well as in neighbouring states. The state has
a total of 275,158 km of road area. The national highways run for around 7,335 km and the state highways extend as much as 27,163 km.
Public Works Department (PWD) of the state is using hi-tech vehicles to help in improvement of roads. The vehicles will be used to check the
status of 20,000 km of core roads in the state according to the department.
As per Budget 2020-21, Rs. 519 crore (US$ 70 million) has been allocated towards state highways and Rs. 849 crore (US$ 115 million) towards
district and other roads.
On December 19, 2020, the Union Minister for Road Transport & Highways Mr. Nitin Gadkari inaugurated and laid the foundation for 33 national
highway projects in Karnataka. These projects include 1,197 km long roads worth Rs. 10,904 crore (US$ 1.48 billion).
Source: Maps of India
Road infrastructure in Karnataka (km)
Road type 2019-20
National highways(March 2019) 7,335
State highways* 27,163
Major district roads* 55,515
Municipal roads* 8,366
Rural roads* 177,542
Note: * 2016-17
18
Physical infrastructure – Railways
Karnataka is well connected to other parts of the country through the railways. The state has a railway network of 3,540 kms.
In Union Budget 2018-19, the Government approved for 160 kms rail network sum of Rs. 17,000 crore (US$ 2.53 billion) for the growth of
Bengaluru metropolis and was to be executed by both State and Central Government in 50:50 ratio.
In Budget 2019-20, a feasibility study to develop 105.55 kms new metro lines (Phase-3) has been proposed.
In December 2020, Asian Development Bank (ADB) approved a US$ 500-million loan to construct new metro rail lines in Bengaluru. The
Bengaluru Metro Rail Project will establish two new metro rail corridors to augment an efficient and safe transportation system.
Source: Economic Survey of Karnataka, 2019-20, State Budget 2018-19
Metro Railway project Track Length (kms) Status
Phase - 1 42.3 Completed on17.06.2017
Phase - 2 72.1 Under progress
Phase - 3 105 (Proposed) Under preparation
Status of Rail projects in Karnataka (2019-20) Status of Bangalore Metro Rail projects (2019-20)
Railway project Track Length (kms) Status
Chikkamagalur-Sakaleshpura 46.0
Land acquisition is inprogress
Bagalkot-Kudachi 144.0Land acquisition is inprogress
Tumkur-Rayadurga 102.6Land acquisition is inprogress
Gadag-Wadi 252.5Land acquisition is inprogress
19
Physical infrastructure – Airports
The state has five domestic airports. These are located in Bengaluru, Mangalore, Hubli, Mysore and Belgaum. In March 2017, the
Government gave ‘in principle’ approval for construction of an airport at Shimoga.
International flights operate from the airports at Bengaluru (Kempegowda International Airport), the country’s first greenfield international
airport, has been developed at Devanahalli in Bengaluru as a passenger and cargo department hub and Mangalore (Mangalore International
Airport).
In December 2019, the New South Parallel Runway (NSPR) at Kempegowda International Airport became operational. This will enable the
airport to handle around 35 million passengers per year. The airport became the first in country to operate independent parallel runways,
enabling aircraft to land and take off simultaneously on both runways.
Karnataka airport statistics (FY21*)
Airport Passenger traffic (No.)
Aircraft movement (No.)
Freight (tonnes)
Bangalore 4,847,588 54,830 197,530
Mangalore 206,211 2,523 1,541
Source: Airport Authority of India Note: * Till November 2020
20
Physical infrastructure – Ports
Source: Indian Port Association
There are 13 ports in Karnataka, of which New Mangalore is a major port. New Mangalore Port is the ninth major port in India with the
deepest inner harbour on the west coast.
The state Government has initiated the work on development of Pavinakurve port, under PPP mode, in the district of Uttar Kannada. The
draft concessional agreement and pre-feasibility report preparations related to the port are under process.
The work on development of the second stage of Karwar port has been initiated under the concept of D-BOOST in PPP mode.
Cargo handled by new port in Mangalore (in ‘000 tonnes)
35,5
90
39,9
40
42,0
55
38,4
87
39,1
45
25,7
90
0
10000
20000
30000
40000
50000
FY16 FY17 FY18 FY19 FY20 FY21
Ports
Major ports New Mangalore Port
Minor ports
Karwar Belekeri Tadri Honavar Bhatkal Kundapur Hangarkatta Malpe Padubidri Old Mangalore
21
Physical infrastructure – Power
Karnataka was one of the first Indian States to implement power
sector reforms. The Karnataka Electricity Regulatory Commission
(KERC) was established as a regulatory authority of the State's
Power Sector.
As of November 2020, the state had an installed power generation
capacity of 29,908.45 MW. Of this, central utilities contributed
4,012.45 MW, private utilities (17,095.52 MW) and state utilities
(8,800.49 MW).
Of the total installed power generation capacity, 10,308.15 MW was
contributed by thermal power, followed by nuclear (698.00 MW),
renewable power (15,315.70 MW) and hydropower (3,586.60 MW).
As per State Budget 2020-21, Rs. 9,115 crore (US$ 1,245 million)
has been allocated towards subsidies to Karnataka Electricity Board.
Installed Power Capacity (GW)
21.3
1
26.7
0
28.1
0
29.8
5
29.9
1
0.00
5.00
10.00
15.00
20.00
25.00
30.00
35.00
FY17
FY18
FY19
FY20
FY21
*
Source: Central Electricity Authority, News ArticlesNote: MW- Megawatt, * Till November 2020
22
Physical infrastructure – Renewable Energy
Source: KREDL, Central Electricity Authority, Karnataka Renewable Energy Policy, Ministry of New and Renewable Energy (MNRE),
Progress in Renewable Energy as of November 2020
No. Renewable energy source Capacity allotted (MW) Installed capacity (MW)
1 Wind 18,540.57 4859.54
2 Hydro 3010.25 903.46
3 Synergistic 2,212.65 1,731.16
4 Chemistry Biological 395.13 139.03
5 Solid Waste 51.00 0.00
6 SolarGrid 9,820.95 7,354.03
Grand total 34,030.55 14,987.22
Karnataka Renewable Energy Development Limited (KREDL) was established in 1996 to promote the development of renewable energy sourcesin the state
Karnataka is endowed with high renewable energy potential such as wind, hydro, solar, tidal & geothermal energy resources. It is now India’s topsolar photovoltaic (PV) state as it crossed the 5GW mark in the first quarter of 2018.
By November 2020, installed wind energy capacity was recorded at 4,859.54 MW. Wind energy accounted for 32.42% of the total installedcapacity recorded in this period.
The state has a solar energy potential of 10,000 MW. Karnataka Solar Policy 2014-2021 plans to add solar generation of minimum 2,000 MW by2021. The total capacity installed for solar energy stood at 7315.87 MW as of November 2020.
23
Physical infrastructure – Telecom
Karnataka is the seventh largest wireless telecom market in India. The entire state is networked through optical fibre cables (OFCs) of the
state-owned company, Bharat Sanchar Nigam Limited (BSNL), as well as private companies such as Bharti, Reliance, VSNL and TATA
Tele Services. The state Government is planning to provide technology at the gram panchayat level by providing free Wi-Fi to the youth.
According to the Telecom Regulatory Authority of India (TRAI), there were 67.06 million wireless and 2.18 million wireline subscribers in
Karnataka as of September 2020.
By September 2020, 42.78 million subscribers had submitted requests for mobile number portability in Karnataka.
Telecom Infrastructure (as of September 2020)
Wireless subscribers 67,060,600
Wireline subscribers 2,182,932
Internet subscribers (as of June 2020) (million) 46.11
Teledensity (in %) 103.94
Performance status of Bharat Net Project
No. of GPs (service ready) (as of November 2020) 6,247
Source: Telecom Regulatory Authority of India, Bharat Broadband Network Limited (BBNL)
24
Physical infrastructure – Urban Infrastructure
Karnataka is among the top ten most urbanised states in India. Seven
cities of Karnataka have been selected under the Smart Cities Mission
to be developed as smart cities. IT has ten city corporations, 57 city
municipal councils, 113 town municipal councils, 90 town panchayats &
4 notified area committees.
In 2019-20, under Vajpayee Housing Scheme 5,705 houses have been
completed (as of November 2019), while 233 and 3,005 houses have
been constructed (as of November 2019) as part of Devarajurs Housing
Scheme and Dr. B.R. Ambedkar Nivasa Yojane, respectively.
The state is projected to reach an urban population proportion of 50%
by 2026. Some of the key areas of development are roads and flyovers,
water supply, storm-water drainage, sewerage and urban transport. As
per budget 2020-21, Rs. 13,749 (US$ 1.87 billion) has been proposed
for water supply, sanitation, housing and urban development.
Under the State Budget 2020-21, sectors such as irrigation and flood
control (29%), rural development (23%) and water supply, sanitation,
housing and urban development (13%) saw the highest increase in
budget allocations.
Source: JNNURM, Ministry of Urban Development, Economic Survey of Karnataka 2019-20, PRS Legislative Research, State Budget 2020-21
Water supply Sewerage system
The Karnataka Urban Water Supply and Drainage Board (KUWSDB) has implemented surface-based drinking water supply schemes in 231 urban areas to provide assured safe drinking water.
KUWSDB is implementing five schemes at Malur, Bangarpet, Gajendragad, Naregal and Anekal to shift their water source from ground water to the assured surface water source. All these schemes will be completed by December 2020.
The Bengaluru Water Supply and Sewerage Board (BWSSB) is responsible for providing water supply, sewerage system & sewage disposal in the Bengaluru Metropolitan area.
In 2019-20, there were 49 ongoing underground drainage (UGD) schemes at a budget of Rs. 520.18 crore (US$ 74 million).
Fund classification under each component of AMRUT for Karnataka (as on January 2019) (US$ million)
Total allocation for projects*
Committed Central
Assistance
Sanctioned Central
Assistance
Central Assistance
released since 2015
686.47 321.38 196.80 162.77
Note: * Including state share
25
SOCIAL INFRASTRUCTURE
26
Social infrastructure – Education
In terms of the number of universities, Karnataka ranks fifth amongall Indian states and union territories, with 65 universities. Of these,28 are state public universities and 11 are private deemeduniversities.
The state has 4,519 pre-university colleges to impart generaleducation. There are more than 1 million students in thepre-university colleges.
The state has a literacy rate of 75.6%, the male literacy rate is 82.8%and the female literacy rate is 68.1%.
Under the State Budget 2020-21, Rs. 371 crore (US$ 50 million) hasbeen allocated to child welfare and Rs. 179 crore (US$ 25 million)towards women’s welfare.
In October 2020, the Karnataka government cleared Rs. 4,636.5crore (US$ 633.20 million) project for modernising 150 governmentIndustrial Training Institutes (ITIs) in collaboration with TataTechnologies for developing institutes as vocational technologycentres.
Educational infrastructure (2019-20)
Institute type Number Enrolments
Medical colleges 52 6,753
Ayurvedic colleges 58 4,085
Homoeopathic colleges 15 1,190
Unani colleges 04 240
Naturopathy & Yogic Sciences (BNYS) 08 600
Dental colleges 38 2,487
Pharmacy colleges 61 4,784
Nursing colleges 323 19,415
Source: Economic Survey of Karnataka 2019-20, Census 2011, State Budget 20-21
Karnataka education statistics (2019-20)
Number of schoolsLower primary: 24,316Higher primary: 38,003Secondary schools: 16,808
School dropout rate (in %) Lower primary: 1.93Higher primary: 2.94
Pupil-teacher ratioAverage: 23.18:1Private Aided schools: 55.48:1Unaided schools: 31.61:1
Karnataka is home to several premier institutions:
Indian Statistical Institute.
Indian Institute of Science.
Indian Institute of Management.
National Law School of India University.
Institute for Social and Economic Change
27
Social infrastructure – Health
Karnataka has made tremendous effort in improving the health status of
its people in the last few decades. The State has made substantial
progress in building credible health infrastructure with a wide
institutional network providing health services both in urban and rural
areas.
The State has 63 district Hospitals, 555 sub district Hospitals and 31
Autonomous and Teaching Hospitals and 146 Taluk / General
Hospitals in the state.
According to the State Budget 2020-21, Rs. 1,433 core (US$ 195
million) has been allocated towards urban health services and Rs.
1,413 crore (US$ 193 million) towards rural health services.
Health Indicators, 2018 (As per SRS Bulletin May 2020)
Birth rate1 17.2
Death rate1 6.3
Infant mortality rate2 23
Natural Growth Rate 10.9
Source: Economic Survey of Karnataka 2019-20,Ministry of Health & Family Welfare, Sample Registration System (SRS) Bulletin May, 2020, 1Per thousand persons,2Per thousand live births.
Life expectancy at birth (years)
Male (2015) 63.6
Female (2015) 67.1
No of institutions Total Facilities (May 2020)
Sub Centers 9,613
Community Health Centres 321
Primary Health Centres 2,649
Sub District Hospitals 555
District Hospital 63
Total Institutions 13,201
Programmes under AYUSH health care services:
AYUSH Health camp.
District and Taluk Seminars / Workshop.
Home remedy and Ayush awareness.
Diabetic control programme.
School health programme.
AYUSH health expo.
28
INDUSTRIAL INFRASTRUCTURE
29
75%
4%3%
3%
3%
3%
3%
3%
3%
IT/ITeS
Biotechnology
Hi-tech Engineering Productsand related services
Electronics Hardware andSoftware/ITES
Aerospace and Industry
Pharmaceuticals
Textile
Multi Product
Precision Engineering Product
Industrial infrastructure: SEZs and industrial estates
As of February 2020, the state has 32 operational, 52 notified SEZs
and 63 formally approved SEZs. The Karnataka Industrial Areas
Development Board has developed 141 industrial areas spread
across the state. The state plans to develop and upgrade eight
clusters around Bengaluru with an investment of US$ 348.4 million in
coming years.
The Karnataka State Industrial & Infrastructure Development
Corporation has promoted more than 135 start-up ventures in the
state through equity participation and has provided debt to core
industries such as steel, cement, mining and textiles, as well as new
sectors such as IT, aerospace and telecom.
Karnataka is the first in the country to provide bespoke policy
ecosystem for automobile sector .The state has introduced a
comprehensive and well-designed Electric Vehicle and Energy
Storage Policy.
Source: Department of Commerce, Ministry of Commerce & Industry
Sector-wise Operational SEZs In Karnataka (as of February 2020)
30
KEY SECTORS
31
Key sector – IT and IT- enabled services…(1/2)
Karnataka has emerged as an information technology (IT) hub ofIndia. Bengaluru is the fourth largest technological cluster in theworld after Silicon Valley, Boston and London.
About 50% of the world's SEI CMM Level 5 certified companies arelocated in Bengaluru.
The state is India’s largest software exporter, with electronics andcomputer software exports totalling to US$ 77.9 billion in 2018-19and reached US$ 42.5 billion during 2019-20 (till November 2019).
Karnataka has 47 IT/ ITeS SEZs and dedicated IT investmentregions. There are 3,500 IT companies in the state. The state houses550,000 IT professionals or 1/3rd of the total IT professionals in thecountry.
In November 2020, the Government of Karnataka launched the‘Beyond Bengaluru’ initiative to build innovation and technologyecosystem beyond the capital city.
In November 2020, the government announced eight MoUs withvarious organisations from the Global Innovation Alliance (GIA)partner countries across the AI, IoT, cybersecurity, biotech andsemiconductor sectors.
60.5 62.7 61.4
77.9
42.5
0.00
10.00
20.00
30.00
40.00
50.00
60.00
70.00
80.00
90.00
2015
-16
2016
-17
2017
-18
2018
-19
2019
-20
Source: : Economic Survey of Karnataka 2019-20
Electronics and software exports from Karnataka (US$ billion) (Up to November 2019)
CAGR: 8.8%
32
Key sector – IT and IT- enabled services…(2/2)
Wipro has presence in areas such as IT services, product engineering, technology infrastructure services, BPOand other consulting solutions. Based in Bengaluru, the company has 72 plus global delivery centres and 50 plusindustry-specific centres of excellence in more than 54 countries. In September 2009, the company launched itscentre of excellence at its Electronic City campus to work with other leading IT firms for developing innovative ITsolutions.
Infosys Technologies Ltd was set up in 1981. The company operates in areas such as IT consulting, modularglobal sourcing, process re-engineering and BPO services. The company has 11 operation centers at multiplelocations in Bengaluru, Mangalore and Mysore.
Genpact was set up in 1997 in India. Formerly known as GE Capital International Services. The company providesa wide range of business process, technology and knowledge services including finance and accounting,collections and customer relations, insurance, procurement and supply chain, analytics, software and ITinfrastructure. The company has one office in Bengaluru in Karnataka.
Accenture is a global management consulting, technology services and outsourcing company with approximately275,000 people serving clients in more than 120 countries.
Wipro Ltd
InfosysTechnologies Ltd
Accenture
Genpact
33
Key sector – Metals and mining
Source: Indian Bureau of Mines
Iron & Steel Exports from Karnataka (US$ million)
1,169
341
745
1,536
600
1,2031,000
0
500
1000
1500
2000
FY15 FY16 FY17 FY18 FY19 FY20 FY21*
Mineral Production in Karnataka
Mineral 2018-19 2019-20**
Iron Ore (total) (‘000 tonnes) 29,796 29,961
Gold (total) (kgs) 1,661 1,572
Silver (kgs) 204 172
Limestone (‘000 tonnes) 34,303 31,716
Karnataka is rich in mineral resources, which are spread over 1.92 lakh sq. kms and has >40,000 sq. kms. of green stone belt, which is a
treasure trove of several mineral deposits and indicates occurrence of polymetallic deposits, diamonds and gold.
In 2019-20**, Karnataka was the third-largest producer of iron ore in India, followed by Maharashtra and Chhattisgarh
Total value of all minerals produced (excluding fuel & atomic minerals) was Rs. 8,741 crore (US$ 1.24 billion) in 2018-19.
In 2019-20, the total export value of iron & steel in Karnataka is US$ 1,202.77 million and reached US$ 999.53 between April and November
2020.
Note: * till November 2020; ** till February 2020
34
Key sector – Engineering…(1/2)
The engineering industry in Karnataka has positive prospects, given
its performance.
The state exported engineering products worth US$ 4.78 billion in
2018-19 and reached US$ 2.75 during April-November 2019.
The state is exporting engineering products to Germany, China,
South Korea, Brazil, USA, Malaysia, Thailand, South Africa and
Singapore. Most of the exporters in state are based in Bengaluru,
Hubli, Mysore, Belgaum, Mangalore, and Shimoga
Exports include machine tools, industrial machinery, cutting tools,
castings, automotive components, electrodes, welding equipment,
construction and earthmoving equipment, and helicopter spares.
3.08
4.09
5.40
4.78
2.75
0.00
1.00
2.00
3.00
4.00
5.00
6.00
2015-16 2016-17 2017-18 2018-19 2019-20
Source: : Visvesvaraya Trade Promotion Centre, Government of Karnataka
Engineering products exports (US$ billion) (Up to November 2019)
35
Key sector – Engineering…(2/2)
BEML Limited (formerly Bharat Earth Movers Limited) was established in 1964. BEML manufactures a wide rangeof earth moving and other heavy industrial equipment for the mining and civil engineering industries.
BEML has a registered office in Bengaluru and units in Kolar Gold Fields, Mysore and Bengaluru.
HMT was established in 1953. The company manufactures various types of machine tools including watches,tractors, printing machinery, metal forming presses, die casting & plastic processing machinery, CNC systems &bearings.
Saint-Gobain India was established in India in 1996. The group has eight manufacturing plants in India (includingBangalore) for various products ranging from glass to engineering products.
In 2019, the company registered sales worth US$ 1.1 billion.
BEML Limited
HMT Ltd
Saint-Gobain India
36
Key sector – Automotive and aerospace…(1/2)
Automotive
Karnataka has a huge local market with over 14 million registered vehicles. Over 400 R&D centres and 200 engineering colleges are
driving innovation in the state.
The state is the fourth-largest automobile producer in India, contributing 8.5% to the total national automobile output. The state has
presence of auto clusters at Dharwad, Belagavi, Shivamogga, Ramanagara and Bengaluru Rural.
The state is also home to Reva Mahindra, the first indigenously built electric car in the country, and key OEMs such as Toyota, Volvo,
Honda, Scania and TVS.
Aerospace
Karnataka is known as the pioneer in the Indian aerospace industry after the establishment of Hindustan Aeronautics Limited (HAL) in
Bangalore in 1940. Karnataka produces more than a quarter of India’s aircrafts and space crafts. The state is exporting aerospace
products to US, UK, Germany, Russia Mauritius, Malaysia, Nepal, Oman and Ecuador.
The state contributes 65% to aerospace-related exports from India. Last year, Karnataka Government has given approval for investment
of Rs. 480 crore (US$ 68.67 million) to Goodrich Aerospace Service Pvt Ltd to establish a unit in Bengaluru.
India’s first aerospace SEZ of 300 acres is operational at Belgaum. Aerospace Technology Centre (ATC) in Bengaluru would be
established under the PPP model.
It is the first state in the country to introduce a dedicated Aerospace policy (2017-23).Furthermore, it contributes to 67% of country’s
helicopter and aircraft for Defence Services.
Source: : Invest India, Invest Karnataka, Economic Survey of Karnataka 2019-20
37
Key sector – Automotive and aerospace…(2/2)
Volvo India has a state-of-the-art bus manufacturing unit near Bengaluru. The Volvo Group has ~104,000employees worldwide, production facilities in 18 countries and sales activities in more than 190 countries.
The Hoskote plant at Bengaluru has an installed production capacity of 1,500 buses per annum .It has strongassociation with Karnataka.
Delphi India was incorporated in 1995 as a wholly owned subsidiary of Delphi. The company is a leading globalsupplier of electronics & technologies for automotive, commercial vehicles and other market segments.
Delphi India has a technical centre in Bengaluru, which is the largest technical centre outside the US.
Volvo India
Delphi Automotive Systems Pvt Ltd
In India, Boeing is represented through its wholly owned subsidiary, Boeing International Corporation India PrivateLimited (BICIPL).
Boeing established its first R&D centre in India - the Boeing Research & Technology Centre - in Bengaluru in2009. The centre develops high-end technology solutions, particularly in the areas of aero structures and avionics.Boeing
Hindustan Aeronautics Limited (HAL) is ranked 40th in Flight International's list of the World’s Top 100 aerospacecompanies in 2008.
HAL, headquartered in Bangalore, has 20 production units and 11 R&D centres in eight locations across thecountry.HAL
38
Key sector – Agro and food processing
Karnataka, with a good agricultural base including various food crops, offers immense scope for the development of food processing industries.
Karnataka is the largest producer of coffee & cocoa in the country.
In 2019-20**, the total oilseed production in the state was ~1 million tonnes. Production of cereals and pulses in the state was estimated to be
10.2 million tonnes and 1.7 million tonnes, respectively, during the same period
In 2019-20, the total production of sugarcane in the state was 39.6 million tonnes.
Karnataka is the first state to go online mandis, which would integrate 150 mandis on a single online platform.
Production of major crops in Karnataka (‘000 tonnes)
Crop 2018-19 2019-20**
Rice 3458 3,463
Wheat 163 143
Nutri/Coarse Cereals 9200 10,203
Pulses 1,846 1,737
Total Food Grains 11,046 11,940
Total Oilseed 792 1,073
Sugarcane# 42,411 39,600
507
320360
443
287
0
100
200
300
400
500
600
2016
-17
2017
-18
2018
-19
2019
-20
2020
-21*
Coffee exports from Karnataka (US$ million)
Note: #sugarcane production for the harvested area during the year, ,*- till November 2020 ,**2019 - 20 As per 2ndAdvance Estimates.Source: : Economic Survey of Karnataka 2019-20, Directorate General of Commercial Intelligence and Statistics
39
Key sector – Agro and food processing…(2/2)
Hindustan Unilever Limited (HUL) is India's largest fast-moving consumer goods (FMCG) company, withleadership in home & personal care products and foods & beverages. The company recorded revenue worth US$5.4 billion in 2019-20, with >18,000 employees nationwide.
The company has a manufacturing plant and an R&D centre at Bengaluru.
Nestle has been in India for almost a century, with seven production facilities across the country, including one atNanjangud, Karnataka. The company produces chocolates and confectionaries, prepared dishes and cookingaids, beverages and milk products and nutritional supplements.
Britannia is a leading food processing company in India. The company manufactures food products such asbiscuits, cheese and bread. Based in Bengaluru.
United Breweries Limited (UBL) is a flagship company of the UB Group. The company is also referred to as thebeer division of the UB Group and is based in Bengaluru.
The company has around 2,489 employees and manufactures products primarily under the Kingfisher, LondonPilsner and UB Premium Ice brands.
Hindustan Unilever Ltd
Nestle India
United Breweries Ltd
BritanniaIndustries Ltd
40
KEY PROCEDURES AND POLICIES
41
Contact list
Agency Contact information
Department of Industries and Commerce (DIC)
No 49, South Block, Khanija BhavanRace Course RoadBengaluru - 560 001Phone: 91-80 2238 9901-08Fax: 91-80-2238 9909E-mail: commissioner@karnatakaindustry.gov.inWebsite: www.karnatakaindustry.gov.in
Karnataka Udyog Mitra (KUM)
No 49, South Block, Khanija BhavanEast Entrance, Race Course RoadBengaluru - 560 001Phone: 91-80-2228 2392/5659, Fax: 91-80-2226 6063E-mail: md@kumbangalore.comWebsite: www.kum.karnataka.gov.in
42
Key investment promotion offices
Agency Description
District Level Single Window Clearance Committee (DLSWCC)
Functions under the chairmanship of respective Deputy Commissioners for industrial projects for investments less than US$ 0.65 million.
State Level Single Window Clearance Committee (SLSWCC)
Functions under the chairmanship of Minister for Large and Medium Industries for investments that range between US$ 0.65-10.9 million.
State High Level Clearance Committee (SHLCC)
Functions under the chairmanship of the Chief Minister for projects involving investment of more than US$ 10.9 million.
District Industries Centres Nodal agencies for approval of projects at the district level.
Primary focus is to promote small scale, village and cottage industries.
Other departments Various sector specific departments such as Department of Tourism, Department of Information
Technology and Biotechnology, Department of Food Processing, Department of Textiles and Department of Mines and Geology.
43
Key approvals required…(1/2)
List of approvals and clearances required Departments to be consulted
Prior to setting up the unit
Registration Department of Industries and Commerce Department, Karnataka Udyog Mitra (Single WindowAgency)
Allotment of land/shed Karnataka Industrial Areas Development Board
Permission for land use State Department of Industries, Department of Town and Country Planning
Site environmental approval State Pollution Control Board and Ministry of Environment and Forests
No objection certificate under Water and Air Act Karnataka State Pollution Control Board
Approval for construction activity and building plan Development Authority/Urban Local Body
Sanction of power State Electricity Board
No objection certificate Fire Department and Directorate of Factories and Boilers
Provisional trade tax registrations Central and State Excise Departments
Registration under Central Sales Tax Act Central and State Excise Departments
44
Key approvals required…(2/2)
List of approvals and clearances required Departments to be consulted
Before commencement of production
No objection certificate under Water and Air Act State Pollution Control Board
No objection certificate Fire Department and Directorate of Factories and Boiler
Permanent Trade Tax registration Central and State Excise Departments
Registration under Central Sales Tax Act, 1956 Central and State Excise Departments
After commencement of production/activity
Registration Department of Industries and Commerce and respective sector departments such asIT/BT/Tourism etc.
45
Cost of doing business in Karnataka
Cost parameter Cost estimate
Industrial land (US$ per hectare) 129,191.51
Power cost (US cents per kWh) Metropolitan area: 12.13Non metro area: 8.7
Labour (US$/man year) 1,522
Occupation costs (US$/sq ft/year) 16.44
Employee cost (US$/ man year)
Software developers 6,383
Team leads 14,893
Architects 21,276.5
Project managers 31,915
46
Electronics systems design and manufacturing policy 2013
Electronic Systems Design and Manufacturing (ESDM) is the fastest growing segment of the Information and Communications Technology (ICT)sector.
According to Ministry of Electronics and Information Technology (MeitY), ESDM to be a part of national IT policy to encourage state to come upwith more productive policy which could attract more private investment in ESDM sector.
As per the National Electronics Policy - 2012 (NEP-2012), ESDM is expected to grow to US$ 400 billion by the year 2020 and will generate a totalemployment of over 28 million.
The objective of the Karnataka ESDM Policy is to facilitate, promote and develop the “ESDM” sector in the State of Karnataka and makeKarnataka a preferred destination for investment in Telecommunications, Defense, Medical, Industrial, Automotive, Consumer Products,applications and components, parts, and accessories required for the aforesaid products and applications. The following targets are set forKarnataka ESDM Policy:
• Emerge as the leading contributor to India's ESDM sector by accounting for at least 10% of the US$ 400 billion by 2020
• Generate over 20% of the country's total ESDM exports target of US$ $80 billion by 2020.
• Develop core competencies in specific ESDM verticals such as telecom, defence electronics, avionics and energy.
• Make Karnataka the country's preferred destination for investments in ESDM.
• Generate at least 240,000 new jobs, 25% of India's PhDs and 5000 patent filings in ESDM sector in Karnataka by 2020.
47
Karnataka startup policy 2015-20
A Karnataka Startup Cell has been set up to address the needs and demands of the rapidly expanding Startup Community and promoteKarnataka's Startup Ecosystem.
Following are the highlights of the startup policy:
• Capacity Building through New Age Incubation Network
• Technology Based Incubators: Fostering links between R&D and Commercialization of Technologies.
• IDEA2PoC Fund: Taking ideas to Proof of Concept.
• Startup Fund of Funds.
• Incentives and Concessions: VAT/CST and ST, Patent and Marketing Reimbursements
• ‘Elevate 100’ scheme to identify 100 innovative start-ups and support them till the next level of success.
• Capacity Building Through Exposure Visits and Workshops
• Creating incubation infrastructure through PPP
48
State acts & policies…(1/3)
NRI Policy 2017The policy was introduced in January 2017, to attract investments from non-resident Kannadigas. The policy aims at helping improve the privileges and speedy services to NRKs, through a card.
1
Karnataka State Electric Vehicle and Energy Storage Policy 2017To make Karnataka a preferred investment destination for manufacturing of electric vehicles, promote a conducive manufacturing ecosystem in the industry and develop human capital required by the industry.
2
IT Policy 2020-2025The policy is focused on continued development of infrastructure, markets, ecosystem, talent and ease of doing business to support growth of the IT industry in the state.3
Karnataka Tourism Policy 2020-25To position Karnataka as the most preferred tourism destination that provides a safe and memorable experience for tourists through diverse high-quality tourism offerings developed in collaboration with tourism stakeholders and local communities to create sustainable and inclusive socioeconomic development for all.
4
49
State acts & policies…(2/3)
AVGC Policy 2017-22Encourage and support appropriate manpower development, infrastructure development and business development in the AVGC sector.5
Solar Policy 2014-21To add solar generation of at least 2,000 MW by 2021 in a phased manner.To encourage PPP model and R&D and innovation in the sector.To promote Roof Top Generation and Technologies.To transform Karnataka into an investor friendly state.
6
Karnataka Industrial Policy 2020-25To retain Karnataka’s position as a global manufacturing hub and achieve higher and sustainable industrial growth through capital infusion, technology transfer, world-class industrial infrastructure, skill upgrade and benchmarking of policies and practices to the best global standards.
7
ESDM Policy 2013To facilitate, promote and develop the ESDM sector in Karnataka and make Karnataka a preferred destination for investment in this sector.8
50
State acts & policies…(3/3)
Aerospace Policy 2013-23To position Karnataka as a vibrant aerospace hub of Asia and a globally recognized aerospace destination by enabling the environment for holistic and sustained growth of the aerospace sector. Increase the contribution of the aerospace sector towards enhancing the share of industry in the state’s GSDP from 28.0% to 32.0% by 2022.
9
Integrated Agribusiness Development Policy 2011To position Karnataka on a sustained growth path in the field of agricultural and allied sectors through global technologies and innovative tools by creating enabling frameworks and state-of-the-art infrastructure facilities, thereby generating higher returns for farming communities.
10
Information and Communication Technology Policy 2011To maintain Karnataka’s leadership in outsourced IT services.To retain Karnataka’s position as the state with the largest skilled workforce in India for IT services, products and R&D. To enable Karnataka to be the most preferred destination for MSMEs (micro, small and medium enterprises).
11
Energy Conservation and Energy Efficiency Policy 2020-25To outline an overarching framework for identification, development, implementation, monitoring and verification of energy efficiency programmes to be undertaken in the state to tap huge energy savings potential.
12
51
APPENDIX
52
Sources
Data Sources
GSDP (state) Economic Survey 2019-20 (Karnataka), Directorate of Economics & Statistics of Karnataka
Per capita GSDP figures Economic Survey 2019-20 (Karnataka), Directorate of Economics & Statistics of Karnataka
GSDP (India) Economic Survey 2019-20 (India)
Installed power capacity (MW) Central Electricity Authority
Wireless subscribers (No) Telecom Regulatory Authority of India
Internet subscribers (million) Telecom Regulatory Authority of India
National highway length (km) NHAI, Roads and Building Department-Government of India
Major and minor ports (No) India Ports Association
Airports (No) Airports Authority of India
Literacy rate (%) Economic Survey 2019-20 (Karnataka)
Birth rate (per 1,000 population) Economic Survey 2019-20 (Karnataka)
Cumulative FDI equity inflows (US$ billion) Department for Promotion of Industry and Internal Trade
Operational PPP projects (No) DEA , Ministry of Finance, Government of India
Operational SEZs (No) Ministry of Commerce & Industry, Department of Commerce
53
Exchange rates
Exchange Rates (Fiscal Year) Exchange Rates (Calendar Year)
Year Rs. Rs. Equivalent of one US$
2004-05 44.95
2005-06 44.28
2006-07 45.29
2007-08 40.24
2008-09 45.91
2009-10 47.42
2010-11 45.58
2011-12 47.95
2012-13 54.45
2013-14 60.50
2014-15 61.15
2015-16 65.46
2016-17 67.09
2017-18 64.45
2018-19 69.89
2019-20 70.49
Year Rs. Equivalent of one US$
2005 44.11
2006 45.33
2007 41.29
2008 43.42
2009 48.35
2010 45.74
2011 46.67
2012 53.49
2013 58.63
2014 61.03
2015 64.15
2016 67.21
2017 65.12
2018 68.36
2019 69.89
2020* 74.18
Source: Reserve Bank of India, Average for the yearNote: * - As of December 2020
54
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