BENGALURU: By implementing the developmental roadmap, the Bengaluru Metropolitan Region (BMR) could boost its economy by $390 billion to $420 billion by 2037 and create an additional 2.5 to 3 million jobs. BMR’s economy is now valued at $149 billion, contributing over 43% to Karnataka’s Gross State Domestic Product (GSDP). This was discussed at a high-level committee meeting on Tuesday, chaired by Chief Secretary Shalini Rajneesh.
The region’s economic indicators outperform both state and national averages, with BMR’s per capita GDP at approximately $9,700 (Rs 9.15 lakh), nearly 1.9 times Karnataka’s average of $5,000 (Rs 4.7 lakh) and about four times India’s national average of $2,500 (Rs 2.35 lakh). The meeting decided to elevate BMR into a premier global hub for innovation, technology, Artificial Intelligence, advanced manufacturing and sustainable urban development.
The chief secretary reviewed the comprehensive roadmap presented by the Institute for Sustainability, Employment and Growth Foundation (ISEG Foundation). The state government signed a statement of intent with ISEG on May 5.
It was mentioned that during 2015–25, BMR recorded a Real Gross Value Added Compound Annual Growth Rate of 9.7%, outpacing Karnataka’s growth rate of 8.5% and Hyderabad’s growth rate of 7.5%.
The region currently supports nearly 38 lakh jobs, accounting for about 16% of the total employment in the state. It houses over 20 lakh tech professionals, more than 1,000 Global Capability Centres, and over 13,000 startups. “The formulation of the Economic Master Plan is progressing on schedule. To ensure balanced urbanisation and relieve pressure on Bengaluru’s core areas, the government is planning new ‘Growth Centres’ both within and outside the city. These hubs will integrate industries, IT/BT, research, manufacturing, logistics, residential and commercial activities, spreading economic wealth to surrounding regions,” a press release said.
‘Master plan for BMR in progress’
To tackle traffic congestion and bolster regional connectivity, the plan outlines several mega-infrastructure proposals: a 287-km Circular Rail Network to provide an efficient alternative for passenger and freight transit, 400-500 km of additional Metro network, alongside 100-200 km of greenfield Metro corridors and extensions, four new Regional Rapid Transit System corridors and expansion of the Suburban Rail Network.
The plan intends comprehensive upgrades to road networks, multimodal transit systems, and airport infrastructure. The government is encouraging participation from domestic and international investors to realise these growth centres. By the first week of September, the final presentation of the master plan would be handed over to Chief Minister DK Shivakumar, the release added.