Daijiworld Media Network – Bengaluru

Bengaluru, Jul 8: Even as India as a whole remains a lower-middle-income economy, five Indian states have successfully crossed the World Bank’s upper-middle-income threshold based on per capita income, with Karnataka emerging as a frontrunner.

According to the latest World Bank report, New Delhi leads the list, followed by Karnataka in the second position with a historic per capita income of $5,579. The other states making the cut are Telangana ($5,407), Tamil Nadu ($5,329), and Gujarat ($4,734). Under the World Bank's current classification, economies with a per capita income between $1,175 and $4,635 are categorized as lower-middle income, while those crossing $4,635 enter the upper-middle-income bracket.

Expressing immense pride over this milestone on social media, chief minister D K Shivakumar described it as a moment of pride for every Kannadiga. "This proud achievement of the state is a victory for the hard work, innovative spirit, and dynamism of our entrepreneurs, farmers, laborers, women, and youth," he stated.

Defending the state government’s ambitious flagship welfare schemes, he added, "Our five guarantee schemes are not mere welfare programs; they are investments in our people. By strengthening family incomes, securing livelihoods, and expanding equal opportunities for all, we have proven that inclusive growth is the strongest foundation for sustainable economic progress."

Elaborating on the state's robust economic landscape, L K Atheeq, financial advisor to the chief minister and retired IAS officer, noted that IT services, defence, and aerospace sectors contribute significantly to the state's economic growth. He highlighted that Karnataka houses 30% of India's Global Capability Centres (GCCs). Bengaluru alone acts as the engine of the state's economic growth, contributing more than 40% to Karnataka's Gross State Domestic Product (GSDP).