Bengaluru storms into top 12 global tech powerhouses: Report

New Delhi, May 27 (IANS) Bengaluru has been ranked among the top 12 global tech powerhouses, alongside leading markets in the US, according to a report released on Tuesday.

The report by by real estate consulting firm CBRE stated that Bengaluru is the largest tech talent market in the Asia-Pacific region, along with Beijing and Shanghai, with its tech workforce exceeding 1 million. This makes the city a critical node in the global technology and innovation landscape.

Bengaluru joins cities like Beijing, Boston, London, New York Metro, Paris, San Francisco Bay Area, Seattle, Shanghai, Singapore, Tokyo and Toronto.

The report underscores Bengaluru's leadership in AI development talent, stating that it has the most AI-related professionals in India, placing it on par with established US clusters like San Francisco and New York.

In terms of demographics, the Indian city ranks 4th among the 12 tech powerhouse markets in share of working-age population, with 75.5 per cent of its population falling in the working-age bracket.

Moreover, the city recorded a 2.4 per cent growth in working-age population between 2019 and 2024, making it one of the fastest-growing globally in this segment.

The city’s startup ecosystem, supported by 28 unicorns, benefits from favourable business regulations and strong institutional support. A key driver of its growth is the presence of leading educational institutions and Global Capability Centres (GCCs), which contribute to a steady pipeline of skilled talent and anchor high-value functions in AI, data science, engineering, and product development.

These factors have powered a 12 per cent increase in tech employment between 2018 and 2023, aligning with global growth trends. This robust foundation, backed by the growth of the tech industry, higher tech proliferation, long-term growth prospects and tech talent demand translated into significant VC funding inflows, the report states.

In 2024, Bengaluru attracted 140 VC deals worth $3.3 billion, including 34 deals in AI, solidifying its status as a top global destination for AI innovation and investment. The city’s blend of cost competitiveness, deep talent pool, and long-term growth potential continues to attract both global investors and tech majors, it further stated.

Beyond Bengaluru, the report highlights the rising momentum in other cities including Ahmedabad and Jaipur. According to the report findings, Delhi-NCR closed 183 VC deals totalling $1.9 billion, including 42 in AI, and continues to foster innovation through its 15 unicorns and 16 IPOs. Mumbai followed with 167 deals worth $4.9 billion, including 26 in AI, backed by 7 unicorns and 47 IPOs, making it one of India’s most capital-rich tech corridors.

Meanwhile, Ahmedabad and Jaipur have emerged as high-potential, cost-effective tech markets. Ahmedabad’s growth in software, IT services, and fintech is further bolstered by infrastructure projects like the 22 million square feet. Gujarat International Finance Tec-City (GIFT City) is set to house 550 companies and employ over 20,000 people.

Jaipur, with its strong education base and favourable cost structure, is attracting a mix of startups and domestic IT services firms, especially those seeking an edge over pricier hubs like Delhi-NCR, the report added.

--IANS

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