95 new companies set shop in Karnataka in last 6 months

Bangalore, Dec 12 (UNI) Notwithstanding continuous criticisms about inadequate physical infrastructure in this IT capital, foreign and domestic companies continue to queue up to set shop here, with a clear majority of the 95 coming to Karnataka during the last six months basing their operations in the city.

Speaking at a press conference to announce the entry of US giant Supervalu here, STPI (South Zone) Director B V Naidu said almost all these companies, mostly IT and ITeS firms, would be based in Bangalore.

He said about 300 existing companies, again most of them in the city, had decided to expand their operations. With the entry of new companies and the expansion programme of the existing ones, over 45,000 jobs would be created during the next one year.

The export front also looked buoyant, with the city-based firms notching up an impressive 55 per cent growth so far this fiscal, he added.

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