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Hans India
27-05-2025
- Business
- Hans India
Bengaluru storms into top 12 global tech powerhouses: Report
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.
Time of India
24-05-2025
- Business
- Time of India
UT administrator highlights UT's green growth in NITI Aayog meet
Chandigarh: Punjab governor and UT administrator Gulab Chand Kataria participated in the 10th Governing Council Meeting of NITI Aayog held at Bharat Mandapam, New Delhi, on Saturday. Chaired by Prime Minister Narendra Modi, the meeting was attended by chief ministers, lieutenant governors and administrators from 24 states and seven union territories, under the theme "Viksit Rajya for Viksit Bharat @ 2047." In his address, Gulab Chand Kataria highlighted Chandigarh's remarkable transformation from a city originally designed for a population of 5 lakh to now housing over 12.43 lakh residents. With the recent inclusion of 13 villages into the Municipal Corporation and development in line with the Master Plan 2031, Chandigarh is experiencing rapid social, physical, and economic development. Kataria stressed that Chandigarh's growth is deeply rooted in principles of green, inclusive, and sustainable development. He pointed out that the city is transitioning from 'grey to green' across every sector—be it green mobility, energy-efficient buildings, or adoption of clean energy solutions—reinforcing its identity as the 'City Beautiful.' Focusing on human capital, the administrator articulated Chandigarh's ambition to become a national skill hub specialising in green technologies. He emphasised the need to establish reputed institutions that prepare the youth for emerging job markets, particularly in green tech sectors. However, he also candidly highlighted the limitations faced by Chandigarh due to its union territory status, which restricts its ability to offer financial incentives essential to attracting investments and fostering economic growth. To overcome these challenges, Kataria appealed for the creation of a special incentive framework for Chandigarh, akin to the Gujarat International Finance Tec-City (GIFT City) model. He proposed that this framework should encompass tax exemptions, subsidies, incentives for IT and ITES sectors, and exemptions under the Companies Act to make Chandigarh more competitive and attractive for green technology investments and skill development initiatives. Kataria further showcased Chandigarh's significant achievements, including the privatisation of electricity distribution—the first of its kind among UTs—the development of the Zirakpur Bypass, which will decongest key city areas, and the city's outstanding performance in education with the highest Gross Enrolment Ratio. He underscored the expansion of Skill Hubs aligned with the National Education Policy 2020, which aims to prepare the youth for future-ready careers. Further, he highlighted Chandigarh's ongoing efforts to promote innovation, especially among women entrepreneurs, to stimulate inclusive economic growth. Aligning with the Prime Minister's call to develop world-class tourist destinations, Kataria reaffirmed Chandigarh's commitment to enhancing its tourism infrastructure with a focus on sustainability, citizen-centric services, and renewable energy integration. He also emphasised the need for reforms to enhance women's participation in the workforce and reiterated Chandigarh's dedication to creating an environment that supports women's empowerment and economic inclusion. The administrator concluded by reiterating Chandigarh's readiness to contribute robustly to the national vision of Viksit Rajya for Viksit Bharat @ 2047 and stressed that cooperative federalism is the cornerstone of India's continued progress. MSID:: 121383248 413 |
