page_title: Bangalore
section_title: Economy
hierarchical_section_title: Bangalore / Economy
caption_attribution_description: English: By Nikhil Kulkarni
context_page_description: Bangalore, officially known as Bengaluru, is the capital of the Indian state of Karnataka. It has a population of more than 8 million and a metropolitan population of around 11 million, making it the third most populous city and fifth most populous urban agglomeration in India. Located in southern India on the Deccan Plateau, at a height of over 900 m above sea level, Bangalore is known for its pleasant climate throughout the year. Its elevation is the highest among the major cities of India.
  The city's history dates back to around 890 AD, in a stone inscription found at the Nageshwara Temple in Begur, Bangalore. The Begur inscription is written in Halegannada, mentions 'Bengaluru Kalaga'. It was a significant turning point in the history of Bangalore as it bears the earliest reference to the name 'Bengaluru'. In 1537 CE, Kempé Gowdā – a feudal ruler under the Vijayanagara Empire – established a mud fort considered to be the foundation of modern Bengaluru and its oldest areas, or petes, which exist to the present day.
context_section_description: Recent estimates of the economy of Bangalore's metropolitan area have ranged from $45 to $83 billion (PPP GDP), and have ranked it either fourth- or fifth-most productive metro area of India. In 2014, Bangalore contributed US$45 billion, or 38 per cent of India's total IT exports. As of 2017, IT firms in Bengaluru employ about 1.5 million employees in the IT and IT-enabled services sectors, out of nearly 4.36 million employees across India.
  With an economic growth of 10.3%, Bangalore is the second fastest-growing major metropolis in India, and is also the country's fourth largest fast-moving consumer goods (FMCG) market. Forbes considers Bangalore one of "The Next Decade's Fastest-Growing Cities". The city is the third largest hub for high-net-worth individuals and is home to over 10,000-dollar millionaires and about 60,000 super-rich people who have an investment surplus of ₹45 million (US$630,900) and ₹5 million (US$70,100) respectively.
  The headquarters of several public sector undertakings such as Bharat Electronics Limited (BEL), Hindustan Aeronautics Limited (HAL), National Aerospace Laboratories (NAL), Bharat Earth Movers Limited (BEML), Central Manufacturing Technology Institute (CMTI) and HMT (formerly Hindustan Machine Tools) are located in Bangalore. In June 1972 the Indian Space Research Organisation (ISRO) was established under the Department of Space and headquartered in the city. Bangalore also houses several research and development centres for many firms such as ABB, Airbus, Bosch, Boeing, General Electric, General Motors, Google, Liebherr-Aerospace, Microsoft, Mercedes-Benz, Nokia, Oracle, Philips, Shell, Toyota and Tyco.
  Bangalore is called as the Silicon Valley of India because of the large number of information technology companies located in the city which contributed 33% of India's ₹1,442 billion (US$20 billion) IT exports in 2006–07. Bangalore's IT industry is divided into three main clusters – Software Technology Parks of India (STPI); International Tech Park, Bangalore (ITPB); and Electronics City. UB City, the headquarters of the United Breweries Group, is a high-end commercial zone. Infosys and Wipro, India's third and fourth largest software companies are headquartered in Bangalore, as are many of the global SEI-CMM Level 5 Companies.
  The growth of IT has presented the city with unique challenges. Ideological clashes sometimes occur between the city's IT moguls, who demand an improvement in the city's infrastructure, and the state government, whose electoral base is primarily the people in rural Karnataka. The encouragement of high-tech industry in Bangalore, for example, has not favoured local employment development, but has instead increased land values and forced out small enterprise. The state has also resisted the massive investments required to reverse the rapid decline in city transport which has already begun to drive new and expanding businesses to other centres across India. Bangalore is a hub for biotechnology related industry in India and in the year 2005, around 47% of the 265 biotechnology companies in India were located here; including Biocon, India's largest biotechnology company.
caption: The headquarters of Infosys, India's second largest IT company, is located in Bangalore
exif: {"Image Make": "Panasonic", "Image Model": "DMC-LZ7", "Image Orientation": "Horizontal (normal)", "Image XResolution": "72", "Image YResolution": "72", "Image ResolutionUnit": "Pixels/Inch", "Image Software": "Ver.1.0", "Image DateTime": "2008:07:04 14:13:27", "Image YCbCrPositioning": "Co-sited", "Image ExifOffset": "418", "Image PrintIM": "[80, 114, 105, 110, 116, 73, 77, 0, 48, 50, 53, 48, 0, 0, 14, 0, 1, 0, 22, 0, ... ]", "Thumbnail Compression": "JPEG (old-style)", "Thumbnail Orientation": "Horizontal (normal)", "Thumbnail XResolution": "72", "Thumbnail YResolution": "72", "Thumbnail ResolutionUnit": "Pixels/Inch", "Thumbnail JPEGInterchangeFormat": "8084", "Thumbnail JPEGInterchangeFormatLength": "8007", "Thumbnail YCbCrPositioning": "Co-sited", "EXIF ExposureTime": "1/30", "EXIF FNumber": "14/5", "EXIF ExposureProgram": "Program Normal", "EXIF ISOSpeedRatings": "250", "EXIF ExifVersion": "0221", "EXIF DateTimeOriginal": "2008:07:04 14:13:27", "EXIF DateTimeDigitized": "2008:07:04 14:13:27", "EXIF ComponentsConfiguration": "YCbCr", "EXIF CompressedBitsPerPixel": "4", "EXIF ExposureBiasValue": "0", "EXIF MaxApertureValue": "3", "EXIF MeteringMode": "Pattern", "EXIF LightSource": "Flash", "EXIF Flash": "Flash fired, compulsory flash mode", "EXIF FocalLength": "61/10", "EXIF FlashPixVersion": "0100", "EXIF ColorSpace": "sRGB", "EXIF ExifImageWidth": "2560", "EXIF ExifImageLength": "1920", "Interoperability InteroperabilityIndex": "R98", "Interoperability InteroperabilityVersion": "[48, 49, 48, 48]", "EXIF InteroperabilityOffset": "7702", "EXIF SensingMethod": "One-chip color area", "EXIF FileSource": "Digital Camera", "EXIF SceneType": "Directly Photographed", "EXIF CustomRendered": "Normal", "EXIF ExposureMode": "Auto Exposure", "EXIF WhiteBalance": "Auto", "EXIF DigitalZoomRatio": "0", "EXIF FocalLengthIn35mmFilm": "37", "EXIF SceneCaptureType": "Standard", "EXIF GainControl": "High gain up", "EXIF Contrast": "Normal", "EXIF Saturation": "Normal", "EXIF Sharpness": "Normal"}