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Karnataka sees dip in IT investment

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CIOL Bureau
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BANGALORE: IT investment in Karnataka saw a slight decline in the first five months of 2006.

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For the same period last year, around 72 companies invested Rs 1200 crore in the State while this year, 68 companies set up shop with an investment of Rs 1100 crore.

Of the 68 new companies, 42 are foreign equity outfits.

Some of the new companies include Marvell India Pvt. Ltd, Thomas White, Business Objects Software, RSA Security India, Isense India Software Laboratories and MCML Systems.

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STPI director BV Naidu said that 40 per cent of these were US-based start-ups. An NRI-funded legal BPO with 40 employees has been set up in Mysore. This company proposes to increase the headcount to 300. The total IT and ITES employee figure in the state is expected to be in the vicinity of 400,000 this year. He said that the interest in Bangalore continued to be high.

STPI’s incubation center Orchids Tech space has recorded 60 per cent occupancy so far.

© CyberMedia News

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