Karnataka’s GSDP Growth for 2023–24 Surpasses National Average at 10.2%, Says Dy CM DK Shivakumar

 

Karnataka’s Gross State Domestic Product (GSDP) growth rate for the fiscal year 2023-24 has been pegged at an impressive 10.2%, significantly outpacing India’s national growth average of 8.2%, according to Deputy Chief Minister DK Shivakumar. This notable economic achievement highlights Karnataka’s robust economic performance, fueled by key sectors such as technology, manufacturing, and services.

The state’s diversified economy, particularly its thriving IT sector in Bengaluru, has played a pivotal role in pushing Karnataka’s economic growth. Investments in infrastructure, technology, and policy reforms have further bolstered industrial development, enabling Karnataka to attract national and international investors alike. Additionally, the government’s strategic focus on renewable energy and agriculture has contributed to sustainable growth.

DK Shivakumar emphasized that these growth figures reflect the state’s commitment to inclusive development and economic stability, positioning Karnataka as a vital economic engine within India. The government aims to continue fostering growth through forward-looking policies and initiatives designed to attract further investments and create job opportunities.

This upward trend not only reinforces Karnataka’s status as an economic powerhouse but also showcases the state’s potential as a model for balanced and dynamic economic development across various sectors.