Mysore - Economy

Economy

Tourism is the major industry in Mysore. The city attracted about 3.15 million tourists in 2010. Mysore has traditionally been home to industries such as weaving, sandalwood carving, bronzework and the production of lime and salt. The planned industrial growth of the city and the state was first envisaged at the Mysore economic conference in 1911. This led to the establishment of industries such as the Mysore Sandalwood Oil Factory in 1917 and the Sri Krishnarajendra Mills in 1920.

In a survey conducted in 2001 by Business Today, Mysore was ranked the fifth-best city in India in which to conduct business. For the industrial development of the city, the Karnataka Industrial Areas Development Board (KIADB) has established four industrial areas in and around Mysore, in the Belagola, Belawadi, Hebbal (Electronic City) and Hootagalli areas. Major industrial companies in Mysore include Bharat Earth Movers, J. K. Tyres, Wipro, Falcon Tyres, Larsen & Toubro, Theorem India and Infosys. There were setbacks when motorcycle manufacturer Ideal Jawa and the Sri Krishnarajendra Mills closed. Efforts have been made to revive them, such as the takeover of the Krishnarajendra Mills by the Atlantic Spinning and Weaving Mills, but they have run into other problems.

The growth of the information technology industry in the first decade of the 21st century has resulted in the city emerging as the second largest software exporter in Karnataka, next to Bangalore. The city contributed Rs. 1363 crore (US$275 million) to Karnataka's IT exports in the financial year 2009–2010. Infosys has established one of its major technical training centres in Mysore, and Wipro has established its Global Service Management Center (GSMC) there. Non-IT related services have been outsourced from other countries to companies in Mysore.

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