The Economy of Bangalore is an important part of the economy of India as a whole.
India became independent from Great Britain in 1947. The establishment and success of high technology firms in Bangalore has led to the growth of Information Technology (IT) in India. IT firms in Bangalore employ about 35% of India's pool of 10 lakh (1 million) IT professionals and account for the highest IT-related exports in the country.
The city's income gross domestic product in 2004-05 was valued at INR 433.8 billion.
One of the important factors spurring Bangalore's growth was heavy central government investment in Bangalore's public sector industries, partially because it is geographically out-of-reach from India's rivals Pakistan and China. This led to the concentration of technical and scientific navigator in Bangalore, and is a factor in leading the "IT revolution" in Bangalore. Karnataka's political leaders such as D. Devaraj Urs, Ramakrishna Hegde, Gundu Rao, Veerappa Moily, J. H. Patel and S.M. Krishna each played a pivotal role in the development of Information Technology and Business Process Outsourcing (BPO) in Bangalore. When R. K. Baliga, Founder of the Electronics City proposed the concept of developing the electronic city in the early 1970s it was met with skepticism but Chief Minister D. Devaraj Urs at that time supported him and approved the project. This initial seed investment by the Karnataka State Government in 1976 laid the foundation for the Electronics City.
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“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
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