Bangalore is one of the premier economic centre in India with an economic growth of 10.3%. Bangalore’s Net District Income is approximately 11 Billion US dollars (52 thousand crores rupees). This City is India's fourth largest FMCG(fast moving consumer goods) market. It is the third largest hub for high net worth individuals with a per capita income of 1.6K US dollars(74 Thousand rupees).It is the home to over 10,000 dollar millionaires(4.5 crores rupees).
Bangalore is the headquarters of many public sector undertakings such as
- Hindustan Aeronautics Limited (HAL)
- Bharat Electronics Limited (BEL)
- National Aerospace Laboratories (NAL)
- Bharat Heavy Electricals Limited (BHEL)
- Bharat Earth Movers Limited (BEML)
- Hindustan Machine Tools(HMT)
- Indian Space Research Organisation (ISRO)
There are many small and medium scale manufacturing industries in the Peenya industrial area.
Bangalore is nick named as the Silicon Valley of India because of the large number of IT industries located in the city which contributes one third of India's IT exports every year. Bangalore's IT Industry is divided into two main parts - Software Technology Parks of India (STPI) in Electronics City and International Technology Park Ltd. (ITPL) in Whitefield. Bangalore is the headquarters of many IT Industries.
- Infosys-India's second largest IT Company
- Wipro-India's Third largest IT Company
Bangalore continuously maintaining its position as India’s Biotech Capital with more than 190 biotechnology companies. Biocon, India's largest biotechnology company, headquarters is also here.