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Bangalore – Fostering the culture of innovation

Posted on September 2, 2021 by - Bangalore

Bangalore undoubtedly, is the IT hub of India. The city is also known as the Silicon Valley of India and is the 4th largest technological cluster in the world after Silicon Valley, Boston and London. Ever since India’s first IT park was built here, the city has had a huge influx of skilled migrants from around the globe. Nearly 40% of India’s IT industry is based here. The Karnataka government has always had an IT friendly policy and now, the city can boast on the presence of the Special Economic Zones(SEZs).

The city’s development has been indeed symbiotic with the IT industry. As one can imagine, the IT industry doesn’t draw in IT professionals alone, but also manpower and capital across all realms. The city has undergone many upgradations in the past, in terms of communications, infrastructure and connectivity-very much at par with the needs of the hour. The establishment of SEZs, which serve as good nurturing ground for startups has further boosted the inflow of migrants and investors.

The influx, further triggered the arrival of investors across the commercial spectrum. This led to more and better roads, elevated highways for IT parks, more number of schools, specialized hospitals, more choices of housing and many more, to list just a few, and so effectively this created more choices and options for all. The city caters to all lifestyles and has a Metro Railway system in place, which can be described as an innovation in terms to reducing road traffic to a great extent. The International Aiport has also been moved to a convenient location for better connectivity.

Two main roads in Bangalore-the outer ring road and inner ring road were primarily designed to facilitate quick transport which was much needed for the IT population. The elevated highway to Electronics city is also a good example of symbiotic growth. The law allows Duty free import/domestic procurement of goods for setting up of SEZ units and this creates a lot of business for local companies. Yet another example of symbiotic growth.

It would be very safe to say that Bangalore as a city has changed over the years to accommodate the IT needs and interests that arose. The culture of innovation has been deeply fostered over the years and it wouldn’t be an exaggeration to say that almost every other business has set up venture in Bangalore, directly or indirectly because of the IT industry.

K’taka Government Says Bengaluru is always SEZ-ready

Posted on September 2, 2021 by - K'taka Government Says Bengaluru is always SEZ-ready

For many years, the Governments of Karnataka, though divided by ideologies, have mostly encouraged industrial growth and the setting up of SEZs. Government of Karnataka dreams of making Bengaluru an SEZ friendly place started back in 1976. The State propelled on its plan to expand the electronics industry by buying 335 acres of land, at one end of the city. It was named Electronics City and would go on to become one of the first technology park initiatives in India.

The Government went on to relax the then prevalent license raj, encouraging companies such as Texas Instrument (TI) to set up its first overseas companies in India. The news of TI entering Bangalore, made news in IT world, particularly in US. It had a cascading effect. Most US-based engineers in 70s and 80s were predominantly South Indians and Bengaluru was to the ideal place to return back. Many IT industries have grown since and Bengaluru now houses 13 IT focused SEZs. Thanks to all the positive and sustainable efforts Bangalore is predicted to be India’s fifth largest metro with a GDP of $127 billion (Mc Kinsey Report).

Owing to the importance of industrial growth, the Karnataka Government has been ever ready to create a positive environment for business growth. Recently when the IT major Infosys decided to pull out of a proposed software development centre project citing lack of infrastructure, the Karnataka Government stepped things up by stating they will initiate all processes to meet the company’s demands.

The good news is that these developments are not restricted to the Silicon Valley of India alone. In 2009, SEZs were proposed in adjoining cities of Mysuru and Mangalore. The then Karnataka Chief Minister, B S Yeddyurappa said, “We would like to ensure a healthy growth of SEZs. The Government is serious in attracting industrial investments to tier II & III cities, in order to, achieve balanced regional development and to decongest Bangalore.”

Such proactive engagements by the State gives hope to develop more industries, SEZs and employment opportunities. Stylus Serviced Office is happy to be part of this vibrant SEZ friendly city culture.

The SEZ Allure of Bengaluru

Posted on September 2, 2021 by - Uncategorized

Bengaluru, the capital of Karnataka, is the city of lakes and gardens and has been long spearheading the growth of the IT industry in India. The city, thanks to the pleasant weather, fine blend of culture, cuisine and infrastructure, lures talent and manpower from all over the country. In turn, more IT companies have established their roots here, paving way for the need of Special Economic Zones (SEZ).

Having an office space in Bangalore within an SEZ would make a whole lot of difference to your business. Here is why:

  • The business is exempted from Central Sales Tax and Service Tax
  • The State Government levies all taxes and there is no State Sale Tax
  • There is also 100% deduction on Income Tax for the first 5 years on export income and also the added convenience of having a single window clearance for State and Central Government approvals

And these are just to list a few of them.

Besides the SEZ advantages in terms of taxes levied, duty fee paid and so on, there is a whole host of other advantages of being in Bangalore. The city, often termed as the fifth metro, has great connectivity, and an advanced social infrastructure. The dynamic city inspires many of the educated migrants to settle in the city – furthering the idea of setting up an office in Bangalore seem very alluring.

Stylus is perhaps India’s first ready-to-move SEZ workspaces. Enjoy maximum tax benefits across commercial classes with our tailor-made office options, that eliminates the need to pay for unused space. We hope that this measure will greatly aid start-up companies, as we offer state-of-the-art benefits in terms of connectivity and infrastructure.

Welcome to our Blog

Posted on September 2, 2021 by - Embassy Golf-Links Business Park, Logitech Park, Manyata Embassy Business Park, Meeting & Conferencing, Office Space, Toll Free, Video Conferencing, Virtual Office

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